You're gonna need to file a 13H after you finally sell for millions
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/whats-left-is-right](https://www.reddit.com/user/whats-left-is-right/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nk5cvm/youre_gonna_need_to_file_a_13h_after_you_finally/) | 

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[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)

10 days after selling $20 million of stock in a day or $200 million in a month you are required to file with the SEC as a large trader by submitting a 13H

> "As provided in Rule 13h-1(a)(7), the identifying activity level means aggregate transactions in NMS securities that are equal to or greater than:
>
> During a calendar day, either two million shares or shares with a fair market value of $20 million; or During a calendar month, either twenty million shares or shares with a fair market value of $200 million.
>
> The Rule defines "transaction" to mean "all transactions in NMS securities, excluding the purchase or sale of such securities pursuant to exercises or assignments of option contracts," except for certain specifically enumerated transactions."

This includes all the different brokers you use if your diversifying multiple brokers and sell $20 mil between all of them in a day or $200 mil in a month you still have to file even if each account dosent reach these levels It's every trade you personally execute that counts.

The 13 H is required for all large traders, you have to file withing 10 days then once every year you're still a large trader 45 days after the calendar year ends.

> "Rule 13h-1(b)(1)(ii) specifies that an annual filing must be made "within 45 days after the end of each full calendar year"

Once you qualify you'll need to submit a Form ID for the EDGAR system to be given credentials and a password. After getting credentials you then can file you're 13H through the EDGAR system.

> "If a filer does not yet have EDGAR access, then in order to gain the necessary permission and access to file documents through the EDGAR system, a filer must first submit Form ID to obtain a Central Index Key (''CIK'') and other EDGAR access codes (including a password). Form ID must be submitted through EDGAR's Filer Management website"

After you file you will be assigned a Large Trader ID (LTID) you will have to give this to your broker and they will then have to have records of your trades for the SEC.

> "Filers receive their unique LTID number in the automatically generated email that EDGAR sends to a filer confirming that the Form 13H filing has been accepted."

If you're not in the US but use a broker that's in the SECs system your still required to file a 13H but you may file a different form asking for exemption.

In the end you should hire a professional and make sure it's done right but don't let yourself get caught out beacuse you didn't know you're a baller and the SEC wants to know about you.

Edit: for all traders outside of the US my brief research says this rule still applies if your broker is registered with the SEC but you may have a way to be exempt so just hire a professional to make sure.

Edit 2: just wanted to clear this up since I've see a few comments about it you only file once for when you qualify to get your LTID then you file annually while you still qualify as a large trader not per trade made.

Edit 3: [u/blehnder](https://www.reddit.com/u/blehnder/) who has some experience with 13H suggested to me looking for a lawyer with experience in SEC compliance to help make sure the form is filled out correctly, they also said it's fairly easy and the SEC will probably be nice if your just a noob who dose it wrong as their human and understand mistakes happen.

Source: <https://www.sec.gov/divisions/marketreg/large-trader-faqs.htm>

This is the second post I've made about this last one I made at 1am and it got buried in new so I thought I'd try posting during the day.
