Emergency Rule 3-13 waiver requests during a government shutdown
Hot Topic | October 2025
KPMG highlights the SEC’s Q&A on requests for emergency relief under Rule 3-13 during a government shutdown.
The SEC’s Division of Corporation Finance (Corp Fin) issued a Q&A on emergency Rule 3-13 waiver requests made during a US federal government shutdown.
Update on November 13, 2025. With the re-opening of the US federal government, Corp Fin has resumed normal operations. Beginning on November 13, 2025 , companies should follow the process to submit requests for Rule 3-13 waivers as detailed in the SEC’s Financial Reporting Manual. To assist companies that filed registration statements and other forms during the government shutdown, Corp Fin published another set of Q&As that are intended to help companies address common questions associated with pending filings made during the shutdown. You can learn more about these Q&As here.
Applicability
SEC.gov | Division of Corporation Finance
- Public companies, including domestic and foreign private issues
- Companies that have filed or will be filing registration statements in public offerings during a government shutdown
Relevant dates
- Effective during US federal government shutdowns
Key impacts
During a US federal government shutdown, the SEC is usually closed, except for limited essential personnel. As a result of a shutdown and limited resources available, waiver requests under Rule 3-13 of Regulation S-X will only be considered by the staff of Corp Fin in emergency situations.
This publication discusses:
- the Corp Fin Q&A on emergency relief under Rule 3-13 during a shutdown;
- considerations for determining whether an emergency exists; and
- requirements for submitting an emergency relief request.
Report contents
- Source and applicability
- Fast facts, impacts and actions
- Emergency waiver requests
- Additional Corp Fin Q&As
Download the document:
Rule 3-13 waiver
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Resource
Corp Fin Q&As on filing during a government shutdown
KPMG highlights the SEC’s Q&As to help companies navigate filing matters during a government shutdown.
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