Form 1-Z Files Dataset

The Form 1-Z Files Dataset is a structured collection of every Form 1-Z and Form 1-Z/A submission ingested by EDGAR — the SEC's exit reports under Regulation A of the Securities Act of 1933. Each record represents a single accession-numbered filing in which a Regulation A issuer (or a successor entity) reports the final economics of a qualified offering under Part I, certifies the suspension of ongoing Tier 2 reporting under Rule 257(d) in Part II, or both. The filer is always the issuer; underwriters, broker-dealers, and investors do not file Form 1-Z. Coverage begins in November 2015 — shortly after the modernized "Regulation A Plus" framework adopted in March 2015 became effective on June 19, 2015 — and runs continuously to the present, with no pre-2015 history because the form in its current bipartite shape did not previously exist. Records are delivered as monthly ZIP containers keyed YYYY/YYYY-MM.zip, and the dataset's file-type vocabulary is XML (the structured form payload and its XSL-rendered XHTML view) and JSON (a per-accession normalized metadata layer).

Dataset APIs

Dataset Files

What This Dataset Contains

The dataset packages every EDGAR submission of Form 1-Z (Exit Report under Regulation A) and Form 1-Z/A (its amendment variant), prescribed by Rule 257 of the Securities Act and adopted as part of the SEC's 2015 modernization of Regulation A. Form 1-Z has two operative parts that correspond to two distinct disclosure purposes; a single submission may exercise either part or both:

• Part I — Summary Information Regarding the Offering and Proceeds. Filed after a Regulation A offering has terminated or completed, to disclose on a final basis how much of the qualified offering was actually sold, at what price, what fees were paid to underwriters and other service providers, and what net proceeds the issuer retained. Tier 1 issuers, who have no ongoing reporting obligations, satisfy their post-offering disclosure obligation primarily through Part I.
• Part II — Certification of Suspension of Duty to File Reports. Filed by Tier 2 issuers under Rule 257(d) to certify that they meet the conditions to suspend their ongoing Regulation A reporting obligations on Forms 1-K, 1-SA, and 1-U. The certification is anchored on the title of the class, the relevant commission file number(s), and the approximate number of holders of record as of the certification date.

The form closes with a signature block that re-states the issuer name and CIK and identifies the natural-person signatory and their title. Form 1-Z/A is the amendment variant: a corrective or supplemental refiling of a previously submitted exit report, structurally using the same XML schema as the original.

The dataset's coverage begins in November 2015 once the first exit reports started arriving on EDGAR after the rule's June 2015 effectiveness. Because Form 1-Z was created after EDGAR had already moved to XML-based form ingestion, the form has been filed using the same http://www.sec.gov/edgar/rega/onezfiler XML schema and the same XSL rendering pipeline throughout the dataset's coverage window — there is no ASCII or plain-HTML era for this form.

Content Structure of a Single Form 1-Z Record

What one record represents

A single record in the Form 1-Z Files Dataset is one complete EDGAR submission of Form 1-Z or Form 1-Z/A, identified by its 18-digit accession number and packaged as a folder of source files. The record unit is the entire filing: the structured XML payload that EDGAR ingested, the XSL-rendered XHTML view of that payload, an enriched filing-level metadata document, and any additional non-image attachments that accompanied the original submission. Records are grouped into monthly ZIP containers keyed YYYY/YYYY-MM.zip; within each container every accession occupies its own subfolder named after the dash-stripped accession identifier (e.g. 000141070825000006).

The record therefore captures both the regulatory content of an exit report under Regulation A and the surrounding submission metadata required to interpret it: filer identity, EDGAR file numbers, filing timestamp, routing flags, and links back to the canonical filing on sec.gov.

On-disk layout of one record

A record's accession folder contains three core artefacts, plus any additional non-image attachments submitted alongside the primary form:

1. metadata.json — a filing-level metadata document, present in every record, that pre-parses EDGAR header information into normalized JSON.
2. primary_doc.xml — the authoritative machine-readable Form 1-Z payload, rooted at <edgarSubmission xmlns="http://www.sec.gov/edgar/rega/onezfiler">.
3. xsl1-Z_X01/primary_doc.xml — the XSL-rendered XHTML view of the same submission, produced by EDGAR's stylesheet pipeline (the xsl1-Z_X01 stylesheet identifier names the subfolder). Despite the .xml extension, the file is XHTML 1.0 Strict.

The file-types found in the dataset are XML (the structured form payload and the XHTML-as-XML rendering) and JSON (the per-accession metadata layer). Image files (.jpg, .gif, .png) that were part of the original submission package — chiefly the EDGAR rendering's checkbox and radio-button graphics — are excluded by the dataset producer. Consequently, references in the rendered view to assets such as radio-checked.jpg or box-unchecked.jpg will not resolve, but the same checked/unchecked state is fully recoverable from the structured XML.

metadata.json — filing-level normalized metadata

The metadata document carries the submission-level identifiers and routing fields that EDGAR exposes in its header, reorganized into a flat, programmatic shape:

• formType — either "1-Z" or "1-Z/A".
• accessionNo — canonical hyphenated accession number, e.g. 0001410708-25-000006.
• filedAt — ISO-8601 filing timestamp with timezone offset.
• description — short EDGAR description string for the submission.
• linkToFilingDetails, linkToTxt, linkToHtml, linkToXbrl — URLs back to, respectively, the canonical filing index, the complete submission text file, the filing-detail HTML page, and any XBRL data on sec.gov (the XBRL link is typically empty for Form 1-Z).
• id — internal 32-character hex document identifier.
• documentFormatFiles[] — one object per document carried by the submission, each with sequence, size, documentUrl, type, and description. The complete submission text file (.txt) is enumerated alongside the form documents.
• dataFiles[] and seriesAndClassesContractsInformation[] — schema-stable arrays that are typically empty for Form 1-Z.
• entities[] — one object per filer/registrant parsed from the EDGAR header. Each entity carries companyName (with role suffix such as "(Filer)"), cik, EDGAR type, the act under which the filing was made (33 for the Securities Act of 1933), fileNo (the Regulation A file number, e.g. 24R-00915), filmNo, irsNo, sic with its label, stateOfIncorporation (US state code or two-letter country code), fiscalYearEnd as MMDD, and a tickers[] array when ticker symbols are known.

primary_doc.xml — the authoritative Form 1-Z body

The XML is anchored at <edgarSubmission xmlns="http://www.sec.gov/edgar/rega/onezfiler"> and decomposes into two sibling subtrees, headerData and formData.

headerData — submission routing and filer credentials:

• submissionType — 1-Z or 1-Z/A.
• filerInfo.liveTestFlag — LIVE for production filings, TEST for EDGAR test submissions.
• filerInfo.filer.issuerCredentials.cik — zero-padded 10-digit CIK.
• filerInfo.filer.issuerCredentials.ccc — the (masked) filing credential used by EDGAR.
• routing flags: confirmingCopyFlag, successorFilingFlag (Y/N indicator that the report is being filed by a successor under Rule 257(b)(5)), returnCopyFlag, overrideInternetFlag.

formData — the substantive body of the exit report, organized to follow the printed layout of Form 1-Z section-by-section:

• item1 — Issuer identification. Legal issuerName, mailing address (street1, street2, city, stateOrCountry, zipCode), phone, and commissionFileNumber. The stateOrCountry field uses standard US state codes for domestic issuers and EDGAR-style two-letter country codes for foreign issuers (for example, F4 for China).
• summaryInfoOffering — Part I (Summary Information Regarding the Offering and Proceeds). The quantitative core of the exit report:
  • offeringQualificationDate and offeringCommenceDate, both formatted MM-DD-YYYY.
  • offeringSecuritiesQualifiedSold — amount qualified to be sold under the original offering circular.
  • offeringSecuritiesSold — amount actually sold during the offering.
  • pricePerSecurity — decimal price at which securities were sold.
  • portionSecuritiesSoldIssuer and portionSecuritiesSoldSecurityholders — split of aggregate proceeds between the issuer's primary sales and any sales by selling securityholders.
  • A fee subtree (populated when fees were paid) enumerates each service-provider name with the corresponding fee, broken out by category: underwriters, sales commissions, finders, accounting and auditing, legal, promoters, and blue-sky compliance. A CRD number is recorded for the broker-dealer where applicable.
  • netProceedsIssuer — net dollar amount of proceeds retained by the issuer after fees and expenses.
• certificationSuspension — Part II (Certification of Suspension of Duty to File Reports). Present when the filer is invoking Rule 257(d) to terminate ongoing Tier 2 reporting:
  • securitiesClassTitle — title of each class of securities covered by the certification.
  • certificationFileNumber — EDGAR/Regulation A file number(s) covered.
  • approxRecordHolders — approximate number of holders of record as of the certification date, the eligibility metric that anchors Rule 257(d) suspension.
• signatureTab — Signature block. Identifies the registrant and the natural-person signatory: cik, regulationIssuerName1 and regulationIssuerName2 (the latter accommodates two-line legal names), signatureBy (name of the signing officer), title, and date formatted MM-DD-YYYY.

xsl1-Z_X01/primary_doc.xml — XSL-rendered view

This sibling document is the EDGAR XHTML rendering of the same submission, produced by applying EDGAR's xsl1-Z_X01 stylesheet (whose name is reused as the enclosing folder). The rendering is XHTML 1.0 Strict and declares additional XML namespaces (e.g. m1 for onezfiler, ns1 for the EDGAR common types). It mirrors the XML data field-for-field in a paginated, labelled, printable form with the canonical sectional headings used by EDGAR:

• 1-Z: Filer Information
• 1-Z: PRELIMINARY INFORMATION
• 1-Z: PART I Summary Information Regarding the Offering and Proceeds
• 1-Z: PART II Certification of Suspension of Duty to File Reports
• 1-Z: Signature

Field values are placed inside <div class="fakeBox*"> cells, and checked/unchecked state for radio buttons and checkboxes is conveyed through references to image assets. Because the dataset excludes image files, the rendered file is best understood as a human-readable mirror of the structured XML rather than a self-contained printable artefact; all values needed for analysis are already present in primary_doc.xml.

Included content

For every record the package includes:

• the per-accession metadata.json;
• the structured primary_doc.xml containing all headerData and formData fields populated by the issuer;
• the XSL-rendered XHTML view of the same submission;
• any additional non-image documents that accompanied the original EDGAR submission (such as supplemental exhibits where attached).

Excluded or separate content

Image files (.jpg, .gif, .png) that were part of the original submission package are excluded by the dataset producer; where the rendered view references image-based form controls, those images will not resolve, but the underlying state is recoverable from the XML. EDGAR-side artefacts that are not part of the issuer's own submission — full-text-search indexes, daily indexes, feed-level metadata — are not included; the record is scoped to the submission itself plus the dataset producer's normalized metadata layer. Where exhibits in a related Regulation A filing chain (the original Form 1-A offering circular or interim Forms 1-K, 1-SA, 1-U) provide context, those are separate filings outside the Form 1-Z record.

Changes in required content or structure over time

Form 1-Z was created by the SEC in March 2015 as part of the Regulation A modernization mandated by Title IV of the JOBS Act of 2012, with effectiveness on June 19, 2015; the dataset's coverage begins in November 2015 once the first exit reports started arriving on EDGAR. Because the form was promulgated in its current bipartite (Part I / Part II) shape, there has been no major restructuring of required Items comparable to the historical churn seen on long-lived forms such as 10-K or 8-K. Specific structural points worth noting:

• The two-part architecture — Part I for offering-and-proceeds summary, Part II for Tier 2 reporting suspension — has been stable since adoption. The Tier 1 / Tier 2 distinction itself was introduced by the 2015 amendments and is the conceptual hinge that gives Part II its meaning: only Tier 2 issuers have ongoing Regulation A reporting to suspend.
• The successor-filing flag (successorFilingFlag) reflects Rule 257(b)(5), which permits a successor entity to step into the predecessor's reporting status; this has been a feature of the rule since adoption.
• The fee categorization in summaryInfoOffering — underwriters, sales commissions, finders, accounting/audit, legal, promoters, blue-sky compliance — tracks the line items required by the printed Form 1-Z and has been stable across the coverage window.
• Form 1-Z/A has always been available as the amendment variant and shares the schema of the original filing.

Interpretation notes

• A Form 1-Z that exercises only Part I will have an empty or absent certificationSuspension subtree; conversely, a filing that is purely a Tier 2 reporting-suspension certification may carry minimal data in summaryInfoOffering. Consumers should treat both subtrees as optional and inspect their presence rather than assuming every field is populated.
• Numeric fields in summaryInfoOffering (amounts qualified, amounts sold, price per security, fee amounts, net proceeds) are issuer-supplied and may be reported as zero or left blank when not applicable — for example, when no securities were sold during the qualified offering. The blank/zero distinction can carry meaning and should not be silently coalesced.
• Dates inside formData (qualification date, commencement date, signature date) are formatted MM-DD-YYYY, while the filing-level filedAt in metadata.json is ISO-8601 with timezone — these formats should not be confused during normalization.
• Form 1-Z/A amendments do not stack within a single record; each amendment is its own accession-numbered submission with its own folder. To reconstruct an issuer's full exit-report history, group records by CIK and Regulation A file number and order them by filedAt.
• The XSL-rendered XHTML mirrors but does not extend the structured XML; for any field-level analytical work, the XML payload is the authoritative source. The rendered view is most useful for visual verification or for producing an EDGAR-style printable artefact.
• The liveTestFlag field distinguishes production filings (LIVE) from EDGAR test submissions (TEST); only LIVE filings carry regulatory significance, and pipelines should filter accordingly when computing aggregates.
• The entities[] array can contain more than one filer object when joint or co-filers participate in the submission; downstream joins on issuer identity should not assume a single entity per record.

Who Files or Publishes This Dataset, and When

Who files

Each record in the Form 1-Z Files Dataset is an exit report filed on EDGAR by an issuer that has conducted, or is currently subject to ongoing reporting in connection with, a securities offering qualified under Regulation A of the Securities Act of 1933. The filer is always the issuer itself, or a successor or surviving entity that has assumed the predecessor's Regulation A reporting status. Underwriters, placement agents, broker-dealers, transfer agents, and investors do not file Form 1-Z.

The Regulation A issuer population

Regulation A is an exemption from Section 5 registration, authorized by Section 3(b)(2) of the Securities Act and implemented through Rules 251 through 263 (17 CFR 230.251–230.263). Eligible issuers under Rule 251(b) are generally limited to U.S. or Canadian companies that are not Exchange Act reporting companies, blank-check companies, registered investment companies, issuers of fractional undivided oil, gas, or mineral interests, or persons subject to bad-actor disqualification under Rule 262.

Two tiers exist:

• Tier 1 issuers conduct offerings up to the Tier 1 ceiling within a 12-month period and have no ongoing Regulation A reporting after the offering concludes.
• Tier 2 issuers conduct offerings up to the higher Tier 2 ceiling, must provide audited financials at qualification, and assume ongoing reporting obligations on Form 1-K (annual), Form 1-SA (semiannual), and Form 1-U (current) under Rule 257(b).

Both tiers may file Form 1-Z, but their use of the form differs by trigger. A successor issuer that has assumed a predecessor's Regulation A status (for example following a merger, reorganization, or domestication) may file Form 1-Z to discharge the predecessor's exit-reporting obligation, identifying both entities on the cover.

Triggering events: Part I and Part II

Form 1-Z is event-driven, not periodic. A filing may include Part I, Part II, or both, depending on which triggers have occurred.

Part I — Exit report on completion or termination of a Regulation A offering. Triggered when a qualified offering ends, whether by completion of sales, abandonment, or other cessation. Available to both Tier 1 and Tier 2 issuers. Part I requires disclosure of the qualification date, securities qualified, securities sold, offering price, underwriting fees and other compensation, and net proceeds to the issuer. For Tier 1 issuers, Part I is the principal use of Form 1-Z, since they have no ongoing reporting to suspend.

Part II — Suspension of ongoing Tier 2 reporting under Rule 257(d). Available only to Tier 2 issuers. Part II is the mechanism by which a Tier 2 issuer formally suspends its continuing duty to file Forms 1-K, 1-SA, and 1-U. The issuer must certify eligibility under Rule 257(d), which generally requires that the issuer be current in its Regulation A reporting through the most recent fiscal year for which a Form 1-K was required, have fewer than 300 record holders of the class offered under Regulation A (or fewer than 1,200 for a bank or bank holding company), have no ongoing Regulation A offering at the time of filing, and not be subject to Exchange Act reporting under Section 13 or Section 15(d). Part II suspends only the Regulation A regime; it does not terminate independent Exchange Act obligations.

Regulatory framework

The Form 1-Z disclosure obligation arises under the Securities Act of 1933, specifically Regulation A (17 CFR 230.251–230.263). Rule 257 governs continuing disclosure for Regulation A issuers: Rule 257(a) imposes the exit-report requirement on offering termination, and Rule 257(d) governs Tier 2 suspension of ongoing reporting. The current Form 1-Z and the two-tier Regulation A architecture (Regulation A Plus) were adopted in March 2015 to implement Title IV of the JOBS Act of 2012 and became effective June 19, 2015. The dataset's earliest sample dates from November 2015, consistent with this rule's effectiveness; Form 1-Z in its current Part I / Part II configuration has no meaningful pre-2015 history.

Timing and deadlines

Part I. Rule 257(a) requires the exit report to be filed not later than 30 calendar days after the termination or completion of the qualified Regulation A offering. The clock runs from the offering's end, not from any fiscal-period boundary.

Part II. No fixed external deadline applies. A Tier 2 issuer may file Part II at any time after determining it meets the Rule 257(d) conditions. In practice, filings often follow the close of a fiscal year for which the Form 1-K obligation has been satisfied, since the issuer must be current in its Tier 2 filings to suspend prospectively. Part I and Part II may be combined in a single Form 1-Z when both triggers have occurred and the suspension conditions are met.

Form 1-Z/A amendments

Form 1-Z/A filings are amendments to a previously filed Form 1-Z, submitted by the same issuer to correct or update Part I disclosures (for example revised amounts sold, underwriting compensation, or net proceeds), to revise or add Part II certifications, or to correct identifying information. Amendments are event-driven, triggered by the issuer's identification of a need to amend, and are filed as separate EDGAR submissions with their own accession numbers.

Important distinctions

• Not a qualification or offering filing. The offering is qualified through Form 1-A (with amendments on Form 1-A/A or post-qualification amendments). Form 1-Z addresses only the back end of the offering lifecycle.
• Not a Tier 2 ongoing report. Tier 2 ongoing reports use Forms 1-K, 1-SA, and 1-U. Form 1-Z ends those obligations rather than fulfilling them.
• Tier 1 issuers cannot use Part II. With no ongoing Regulation A reporting to suspend, only Part I is meaningful for Tier 1 issuers.
• Does not terminate Exchange Act reporting. Issuers with independent Section 13 or 15(d) obligations (for example through listing or Section 12(g) thresholds) must use Form 15 to suspend or terminate Exchange Act reporting.
• Other exempt and registered offerings are out of scope. Rule 506(b)/Rule 506(c) private placements use Form D; Regulation Crowdfunding issuers file Form C, Form C-AR, and Form C-TR; registered Section 5 offerings produce no Form 1-Z. Form 1-Z is unique to Regulation A.
• Successor issuers. Where a Regulation A issuer reorganizes or merges, the successor entity may file Form 1-Z, identifying the predecessor whose offering or reporting obligation is being terminated or suspended.
• Filer versus signatory. The issuer is the filer; the form is signed by an authorized officer. The dataset's filer identity is the issuer CIK, not the signing officer.

How This Dataset Differs From Similar Datasets or Filings

Form 1-Z sits at the end of the Regulation A reporting lifecycle, so the most useful comparisons are with the other forms in that lifecycle and with analogous termination filings from neighboring exempt-offering and Exchange Act regimes. Because Form 1-Z is short, event-driven, and filed at most twice per issuer (once at offering close, once to exit Tier 2 reporting), it is easy to confuse with offering statements, periodic reports, and the Exchange Act deregistration form.

Form 1-A (Offering Statement)

Form 1-A opens the Reg A lifecycle; Form 1-Z closes it. Issuers file 1-A (and 1-A/A, 1-A POS) to qualify a Tier 1 or Tier 2 offering, with the offering circular, financial statements, and exhibits. Form 1-Z Part I reports what the 1-A could only project: qualification date, securities actually sold, underwriting fees paid, and net proceeds received. Use 1-A to launch, 1-Z Part I to close. Full lifecycle analysis requires both.

Form 1-K (Annual Report)

Form 1-K is the Tier 2 annual report under Rule 257(b)(1), recurring every fiscal year with audited financials and MD&A-style narrative. Form 1-Z Part II terminates that obligation. The two are complementary, not overlapping: 1-K captures continuing performance; 1-Z Part II marks the moment that stream stops. Use 1-K while reporting; 1-Z Part II to end the stream.

Form 1-SA (Semiannual Report)

Form 1-SA is the Tier 2 semiannual report under Rule 257(b)(3), filed within 90 days after the first fiscal half-year, with unaudited interim financials. Like 1-K, its obligation is suspended by Form 1-Z Part II. Form 1-Z contains no interim financials, MD&A, or risk updates and is not a substitute for current-condition reporting.

Form 1-U (Current Report)

Form 1-U is the Reg A analog to Form 8-K, filed within four business days of specified material events (fundamental changes, bankruptcy, control changes, officer departures, unregistered sales). Both 1-U and 1-Z are episodic, but 1-U reports discrete events during the reporting obligation, while 1-Z is the single event that ends it. Use 1-U for material events mid-life; 1-Z to terminate the regime.

Form 15 (Exchange Act Termination/Suspension)

Form 15 is the closest functional analog to Form 1-Z Part II outside Reg A. Filed under Rules 12g-4, 12h-3, or 15d-6, it terminates Section 12(g) registration or suspends Section 13 / 15(d) reporting (Form 10-K, Form 10-Q, 8-K). Both forms certify holder-of-record and threshold conditions to end an ongoing reporting cycle, but exit different regimes: Form 15 exits the Exchange Act; Form 1-Z Part II exits Reg A Tier 2 under Rule 257(d). A pure Reg A issuer files 1-Z, not 15. An issuer with both a Reg A obligation and a Section 15(d) obligation may need both.

Form D (Reg D Notice)

Form D is the Rule 504/506(b)/506(c) notice. It superficially resembles Form 1-Z in being short and tabular, but it is filed at offering start (within 15 days of first sale), not termination. Reg D has no qualification process and no continuing periodic reporting, so there is no Reg D exit filing. Form D is an entry notice with no Reg D analog to Form 1-Z.

Form C-TR (Reg CF Termination)

Form C-TR is the Reg CF analog to Form 1-Z Part II, filed under Rule 202(b) to end Form C-AR annual reporting after a successful Reg CF raise. Both are short certification filings ending recurring reports under an exempt-offering regime, but the regimes, eligibility criteria, and thresholds differ. C-TR has no analog to Form 1-Z Part I — Reg CF reports offering closing through Form C-U rather than a combined exit report. Form 1-Z, Form C-TR, and Form 15 are the three canonical "stop reporting" filings across Reg A, Reg CF, and the Exchange Act.

Boundary summary

Form 1-Z is the only SEC filing that combines, in one short document, a final summary of a Reg A offering's realized outcome (Part I) and a certification-based suspension of Tier 2 ongoing reporting (Part II). No other Reg A form captures realized proceeds and underwriting fees at close; no other exempt-offering or Exchange Act form ends Tier 2 reporting. Its narrow filer population (Reg A issuers only) and one-per-offering / one-per-reporting-cycle cadence make it categorically distinct from periodic Reg A reports (1-K, 1-SA), event-driven Reg A reports (1-U), and offering documents (1-A). It is parallel to — never interchangeable with — Form 15 and Form C-TR, and has no counterpart under Reg D.

Who Uses This Dataset

Form 1-Z combines deal-economics fields (amount qualified, amount sold, underwriting fees, net proceeds, qualification date) with Rule 257 suspension certifications. It is consulted by legal, compliance, capital-markets, research, and oversight roles, each reading a different slice.

Securities lawyers and Regulation A counsel

Outside counsel advising Reg A issuers use the dataset as a precedent library when terminating offerings or suspending Tier 2 reporting. Part I fields anchor the closing arithmetic; Part II certifications (record-holder counts, current-reporting status, Rule 257(b) filing history) drive drafting of suspension filings and responses to staff comments. 1-Z/A amendments reveal which exit disclosures invite correction.

Compliance officers at Reg A issuers

In-house compliance and finance staff at issuers winding down a Tier 1 or Tier 2 raise use the dataset to align their own exit filing with established practice. They reconcile CIK, qualification date, securities qualified versus sold, underwriting fees, and net proceeds; Tier 2 filers compare suspension language and record-holder representations to peers before submission and audit-committee sign-off.

Broker-dealers and Reg A platform operators

Selling-group broker-dealers, placement agents, and online platforms distributing Reg A securities benchmark realized deal economics across comparable offerings. The qualified-versus-sold gap, underwriting fee disclosures, and net proceeds inform take-up analysis, fee compression, issuer diligence, and allocation decisions. Suspension filings flag which securities will no longer carry ongoing 1-K/1-SA disclosure, affecting secondary-market quoting and suitability monitoring.

Capital-markets analysts

Analysts covering small-issuer capital formation use Form 1-Z as the cleanest formal close for an offering. Amount qualified versus amount sold yields the fill rate; net proceeds and underwriting fees support cost-of-capital and intermediary-economics work. Outputs include market-structure reports, completion-rate tables by tier and industry, and time-series tracking since 2015.

Academic researchers

Finance, law, and entrepreneurship researchers studying Reg A+ use the full record — qualification date, securities qualified and sold, underwriting fees, net proceeds, and suspension timing — for econometric work on completion rates, fee structures, time-to-exit, and the effect of ongoing reporting burdens. The November 2015 start aligns with the post-amendment regime, supporting natural-experiment designs around the 2015 rule changes and later threshold revisions.

Financial journalists

Reporters covering small-cap markets, crowdfunding, and retail-investor risk use the dataset to identify closed offerings, quantify the qualified-versus-sold gap, and flag issuers that suspend reporting shortly after raising capital. Underwriting fees and net proceeds anchor stories on intermediary economics; suspension certifications drive accountability pieces on post-raise information availability.

SEC staff and policy analysts

Staff working on small-business capital formation, corporation finance, and economic and risk analysis use the dataset to monitor Rule 257 and the Reg A regime. They combine deal-economics fields with suspension certifications to study exit frequency, conditions, and filing-quality patterns visible in 1-Z/A amendments, supporting rulemaking, oversight, and congressional reporting.

M&A and private-credit diligence teams

When a previously Reg A-funded company becomes a target in an acquisition or financing, diligence teams pull Form 1-Z to verify closing economics: amount sold, underwriting fees, net proceeds, and suspension status. The filing confirms representations about capital history and ongoing reporting obligations and feeds capitalization-history reconstructions and prior-issuance risk memos.

Surveillance and compliance teams at secondary-market venues

Operators of alternative trading systems and OTC-quotation platforms handling Reg A securities track which issuers have suspended Tier 2 reporting, since suspension alters the public-information profile and may affect quoting eligibility and broker-dealer information requirements. Part II certifications and the qualification-to-exit interval feed security-master maintenance and re-qualification reviews.

Specific Use Cases

The Form 1-Z Files Dataset supports a small set of concrete workflows that depend on its closing-economics fields, Rule 257(d) certifications, and amendment patterns.

Computing offering fill rates by tier and industry

Pair summaryInfoOffering.offeringSecuritiesQualifiedSold with offeringSecuritiesSold across all LIVE filings to derive a fill-rate ratio per offering, then group by entity-level sic (with label) and Tier 1 vs Tier 2 (inferred from presence of certificationSuspension). The resulting table supports completion-rate reports, year-over-year capital-formation studies anchored on offeringQualificationDate, and identification of industries with the largest qualified-versus-sold gaps since the November 2015 start of the post-amendment regime.

Benchmarking underwriting and intermediary fees on closed Reg A deals

Extract the fee subtree from summaryInfoOffering — underwriters, sales commissions, finders, accounting/audit, legal, promoters, and blue-sky compliance — keyed by service-provider name and broker-dealer CRD where present. Normalize each fee against offeringSecuritiesSold * pricePerSecurity and netProceedsIssuer to produce a per-offering fee waterfall. Placement agents and Reg A platform operators use this to benchmark their own pricing; analysts use it to track fee compression over time.

Building a Tier 2 suspension watchlist for secondary-market venues

Filter records where certificationSuspension is populated and capture securitiesClassTitle, certificationFileNumber, approxRecordHolders, and filedAt. The output is a rolling list of CUSIPs/issuers whose 1-K and 1-SA streams have stopped under Rule 257(d), feeding ATS and OTC security-master updates, broker-dealer information-availability reviews, and quoting-eligibility checks. Joining on entities[].cik lets surveillance teams flag issuers that suspended within a short interval of the offering qualification date.

Mining 1-Z/A amendments for disclosure-quality patterns

Group records by entities[].cik and commissionFileNumber, order by filedAt, and diff the formData fields between each 1-Z and any subsequent 1-Z/A. Counsel and SEC staff use the resulting change log to see which exit disclosures most often get corrected — typical candidates are fee line items, netProceedsIssuer, approxRecordHolders, and signatory title — to inform drafting checklists, staff-comment-letter templates, and oversight on filing quality.

Reconstructing the Reg A lifecycle for diligence and research

For an issuer under acquisition or academic study, pull every Form 1-Z record by CIK and join to the corresponding Form 1-A, 1-K, 1-SA, and 1-U history. Use offeringCommenceDate and offeringQualificationDate from summaryInfoOffering plus filedAt of the 1-Z to compute time-to-close and time-to-suspension. M&A diligence teams use this to verify capital-history representations (offeringSecuritiesSold, pricePerSecurity, netProceedsIssuer); researchers use it for hazard models on exit timing and the effect of ongoing reporting burdens.

Detecting successor filings and joint-filer structures

Filter on headerData.filerInfo.filer for successorFilingFlag = Y to surface Rule 257(b)(5) successor exits, and inspect entities[] for records carrying more than one filer object. The output supports oversight workflows that track which Reg A reporting obligations transferred to successor entities, and corrects downstream joins that would otherwise assume one issuer per accession.

Dataset Access

Dataset Index JSON API: https://api.sec-api.io/datasets/form-1z-files.json Returns dataset metadata including name, description, last updated timestamp, earliest sample date (2015-11-01), total records, total size, covered form types (1-Z, 1-Z/A), container format (ZIP), file types (XML, JSON), the full dataset download URL, and the list of monthly container files. Each container entry includes its key, size, record count, updated timestamp, and download URL. This endpoint does not require an API key, and can be polled to monitor which monthly containers were updated in the most recent refresh run, allowing selective day-by-day downloads.

Example response:

          1
          {
        

          2
            "datasetId": "1f13365b-9ae0-69db-af8e-f6ea6cdcd259",
        

          3
            "datasetDownloadUrl": "https://api.sec-api.io/datasets/form-1z-files.zip",
        

          4
            "name": "Form 1-Z Files Dataset",
        

          5
            "updatedAt": "2026-04-24T02:56:06.388Z",
        

          6
            "earliestSampleDate": "2015-11-01",
        

          7
            "totalRecords": 721,
        

          8
            "totalSize": 1721306,
        

          9
            "formTypes": ["1-Z", "1-Z/A"],
        

          10
            "containerFormat": "ZIP",
        

          11
            "fileTypes": ["XML", "JSON"],
        

          12
            "containers": [
        

          13
              {
        

          14
                "downloadUrl": "https://api.sec-api.io/datasets/form-1z-files/2025/2025-08.zip",
        

          15
                "key": "2025/2025-08.zip",
        

          16
                "size": 18432,
        

          17
                "records": 6,
        

          18
                "updatedAt": "2026-04-24T02:56:06.388Z"
        

          19
              }
        

          20
            ]
        

          21
          }
        

Download Entire Dataset: https://api.sec-api.io/datasets/form-1z-files.zip?token=YOUR_API_KEY Downloads the complete archive of all Form 1-Z and Form 1-Z/A filings from November 2015 to the present in a single ZIP file. This endpoint requires an API key.

Download Single Container: https://api.sec-api.io/datasets/form-1z-files/2025/2025-08.zip?token=YOUR_API_KEY Downloads one monthly container ZIP instead of the full dataset, which is useful for incremental syncing or retrieving filings from a specific period. This endpoint requires an API key.

Frequently Asked Questions

What form does this dataset cover?

The dataset covers Form 1-Z, the Exit Report under Regulation A of the Securities Act of 1933, and Form 1-Z/A, its amendment variant. Both form types share the same http://www.sec.gov/edgar/rega/onezfiler XML schema and the same XSL rendering pipeline.

What does one record in the dataset represent?

A single record is one complete EDGAR submission of Form 1-Z or Form 1-Z/A, identified by its 18-digit accession number and packaged as a folder containing metadata.json (filing-level normalized metadata), primary_doc.xml (the authoritative structured payload), the XSL-rendered XHTML view at xsl1-Z_X01/primary_doc.xml, and any additional non-image attachments submitted with the filing.

Who is required to file Form 1-Z?

The filer is always the issuer of a securities offering qualified under Regulation A, or a successor entity that has assumed the predecessor's Regulation A reporting status under Rule 257(b)(5). Underwriters, placement agents, broker-dealers, transfer agents, and investors do not file Form 1-Z.

When must Form 1-Z be filed?

Part I (the exit report on offering completion or termination) is due not later than 30 calendar days after the qualified Regulation A offering ends, under Rule 257(a). Part II (Tier 2 reporting suspension under Rule 257(d)) has no fixed external deadline and may be filed at any time after the issuer determines it meets the suspension conditions.

What is the difference between Part I and Part II of Form 1-Z?

Part I — Summary Information Regarding the Offering and Proceeds — discloses the realized economics of a completed Regulation A offering (amount qualified, amount sold, price, fees, net proceeds) and is available to both Tier 1 and Tier 2 issuers. Part II — Certification of Suspension of Duty to File Reports — is available only to Tier 2 issuers and certifies eligibility under Rule 257(d) to suspend ongoing Form 1-K, 1-SA, and 1-U obligations. A single submission may exercise either part or both.

How does this dataset differ from Form 1-A or Form 15?

Form 1-A opens the Regulation A lifecycle (offering qualification); Form 1-Z closes it. Form 15 is the Exchange Act termination/suspension filing under Rules 12g-4, 12h-3, or 15d-6, and ends Section 12(g) registration or Section 13 / 15(d) reporting — a different regime. Form 1-Z Part II is the Regulation A analog for ending Tier 2 reporting, but the two are not interchangeable; an issuer with both Regulation A and Section 15(d) obligations may need both.

What time period and file formats does the dataset cover?

The dataset begins in November 2015, shortly after the modernized Regulation A framework adopted in March 2015 became effective on June 19, 2015, and runs continuously to the present. Records are delivered as monthly ZIP containers keyed YYYY/YYYY-MM.zip, and the file-type vocabulary is XML (the structured form payload and its XHTML-as-XML rendering) and JSON (the per-accession metadata layer); image files from the original submission package are excluded.