# What Are SEC Forms 10‑K and 10‑Q? Definition and Example

> What the 10-K annual report and 10-Q quarterly report contain, when they are due, and which sections are most useful to an individual investor.

Source: https://www.exent.ai/learn/sec-10-k-10-q · Reviewed by David, Senior Analyst, Exent · Published Nov 8, 2026 · Updated Nov 8, 2026

## Key takeaways

- The 10-K is the annual report a US public company files with the SEC, with audited financial statements; the 10-Q is the shorter quarterly report, with unaudited statements.
- The 10-K is due 60, 75 or 90 days after the fiscal year ends, depending on company size; the 10-Q 40 or 45 days after each quarter.
- There is no 10-Q for the fourth quarter; the 10-K covers it.

## What are the 10-K and 10-Q?

They are the official, standardized reports every US-listed company must file. Both are free on the SEC’s [EDGAR](https://www.sec.gov/edgar/search/) database. The 10-K is the full picture: business description, risk factors, management’s discussion and audited statements. The 10-Q updates the numbers each quarter; its statements are reviewed by the auditor rather than audited.

## When are they due?

| Filer category | 10-K due | 10-Q due |
| --- | --- | --- |
| Large accelerated filer | 60 days after year end | 40 days after quarter end |
| Accelerated filer | 75 days | 40 days |
| All other companies | 90 days | 45 days |

## Worked example (Illustrative)

A large company with a Dec 31 fiscal year end has 60 days to file its 10-K, so it is due around Mar 1. Its first-quarter 10-Q, for the quarter ending Mar 31, is due 40 days later, around May 10. Deadlines on a weekend move to the next business day. Sources: [SEC Form 10-K](https://www.sec.gov/divisions/corpfin/forms/10k.htm) and [Form 10-Q](https://www.sec.gov/divisions/corpfin/forms/10q.htm) instructions.

## Why it matters for a self‑directed investor

It is the primary source; news and summaries are second-hand. Three parts repay a read: risk factors, management’s discussion of results, and the segment note showing [revenue segments](https://www.exent.ai/learn/revenue-segments). Insider trades appear separately on [Form 4](https://www.exent.ai/learn/form-4). See the earnings season guide for timing.

## Common mistakes

- Reading only the earnings release, which is not the filing and can stress different numbers.
- Skipping risk factors because they look like boilerplate. Changes from last year are the signal.
- Treating 10-Q numbers as audited.

## Frequently asked questions

### What is the difference between a 10-K and an annual report?

The 10-K is the formal SEC filing. The glossy annual report to shareholders is a separate document, often with the 10-K attached.

### Where can I read a company’s 10-K for free?

On the SEC’s EDGAR database, and usually on the investor relations page of the company’s website.

### Why is there no fourth-quarter 10-Q?

The 10-K covers the full fiscal year, including the fourth quarter, so a separate quarterly report is not filed for it.

### Are 10-Q financial statements audited?

No. They are reviewed by the company’s independent auditor, which is less thorough than the full audit behind the 10-K.

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Educational content, not investment advice. Past performance does not guarantee future results.