There's no single best Section 16 filing software. The right tool depends on who already holds your insiders' equity data, and who presses submit on EDGAR.
So this guide sorts Section 16 software, sometimes called insider filing software, by the job each tool does. The SEC's own filing website comes first, then equity plan administrators, in-house platforms and filing agents. Finrep's own Section 16 product comes last.
We also counted every Form 4 filed in Q3 2026, to see who files them today and how fast. No other buyer's guide we found carries that data.
Plan administrator already holds the grants? Start with its Section 16 module: Certent, Computershare or Shareworks.
Legal wants control in-house? Workiva, DFIN ActiveDisclosure and Toppan Merrill SEC Connect let your legal team file in-house.
Want someone else to file? M2 Compliance, EdgarAgents and DataTracks file as your agent.
Want the insider ledger, the deadline clock and EDGAR filing in one tool? Look at Finrep Section 16.
Who files Form 4s today?
Half of all Form 4s go in under the company's or the insider's own EDGAR codes. The other half go through filing agents and law firms, led by DFIN and Workiva.
We counted every Form 4 filed in Q3 2026 to find out. Each EDGAR accession number starts with a code the SEC calls "the CIK of the entity submitting the filing". A CIK, or Central Index Key, is the ID EDGAR gives every filer.
We matched those codes to each form's issuer and insiders, using the SEC's Insider Transactions Data Set for the quarter. Amended Form 4s are left out, and each filing counts once.
Of the 33,521 Form 4s filed in Q3 2026, 51.4% went in under the issuer's or insider's own EDGAR codes. Insiders' own codes carried 33.9%, and issuers' codes 17.5%.
DFIN is the largest single submitter. The filer code DFIN uses for its own SEC reports sent in 4,759 Form 4s for 723 issuers. That's 14.2% of the total.
Workiva's agent code filed 2,580, Toppan Merrill's 1,209, M2 Compliance's 945 and EdgarAgents' 860. Broadridge's EDGARfilings code filed 335. Law firms such as Sidley Austin, Foley & Lardner and Goodwin Procter file under codes of their own too.
"Own codes" can still mean vendor software. The SEC's filer manual says your login CIK is the one reflected in each accession number. Workiva documents filing with a customer's own EDGAR tokens, so its work can land under the customer's code.
So a filing under "own codes" tells you who logged in. It says little about the tool behind the form. Ask vendors which mode they use.
What changed for Section 16 filers in 2026?
Two things changed. Every filer now signs in through EDGAR Next. And directors and officers of foreign private issuers (FPIs) must now file, unless an SEC order exempts them.
What is EDGAR Next, and why did late Section 16 reports jump?
EDGAR Next is the SEC's new sign-in and account system for EDGAR. Since September 15, 2025, every filer has needed it to file. It also added optional APIs, which let vendor software file with a customer's own tokens.
Each person acting for a filer now signs in with Login.gov credentials and multifactor authentication. The SEC's EDGAR Next page says legacy logins "have been discontinued."
Each filer names account administrators, at least two unless the filer is an individual. Administrators can delegate filing to an agent's account, and they must confirm the account's users every year. Filers that missed the December 19, 2025 enrollment deadline must reapply on an amended Form ID.
The switch landed hard on insiders. In 2026 through October 17, 95 companies' proxies or 10-Ks blamed a late Section 16 report on EDGAR access. In the same months of 2025 we found 9.
Apogee's May 2026 proxy blamed "delays in obtaining access to the new EDGAR Next platform" for each late filing. FedEx cited "system processing delays associated with the SEC's transition to the EDGAR Next system" in its 2026 proxy. Several companies also blamed the October to November 2025 government shutdown.
The SEC staff gave some relief. Its FAQ, updated March 12, 2026, covers insiders who applied for a Form ID in time but got access late. The relief required them to file by April 1, 2026.
A domestic issuer must still list those reports as late under Item 405 of Regulation S-K. That's the proxy's list of delinquent Section 16 filings. Our guide to EDGAR filing in 2026 covers the account steps.
Do foreign private issuer insiders file Forms 3, 4 and 5 now?
Yes, since March 18, 2026, unless an exemptive order covers them. The Holding Foreign Insiders Accountable Act (HFIA Act), signed December 18, 2025, ended the FPI insider exemption.
The rule reaches FPIs with equity registered under Section 12. Their 10 percent holders still don't file, the SEC's fact sheet says. The SEC's February 27, 2026 amendments also added optional fields for a foreign trading symbol and country code.
Two exemptive orders spare insiders who already report under a qualifying regime at home. The March 5 order covers companies incorporated in Canada, Chile, the European Economic Area, Korea, Switzerland and the UK. The May 20 order added Australia, India and Singapore.
The deadline set off a wave of first filings. In the week of March 16, 2026, FPI insiders filed 5,458 Form 3s, against 287 for everyone else. That's nearly 20 times the usual weekly total.
Form 4s followed. In Q3 2026, FPI insiders filed 2,745 Form 4s for 404 issuers, 8.2% of all Form 4s. We counted FPIs as companies that filed a 20-F, 40-F or 6-K in 2026, so these counts are a floor.
Form ID backlogs slowed some of them. The SEC staff cited "the unusually large number of Form ID applications" the new law caused. The staff won't recommend enforcement for FPI insiders who applied before March 18 and filed by April 1, 2026.
Our guide to the FPI Section 16 exemption sets out who qualifies. Both 2026 changes land on whoever files, so ask every vendor how it handles them.
Which Section 16 software fits your team?
Start from who holds the data and who files. This table maps each situation to a lane.
| Your situation | Start with | Why |
|---|---|---|
| You file a few forms a year | SEC EDGAR Online Forms or Form345 | No software to buy, or a published price per form |
| Your plan administrator holds grants and trades | Certent, Computershare or Shareworks | The data and the filing sit with one vendor |
| Legal wants control in-house | Workiva, DFIN or Toppan Merrill SEC Connect | Self-service filing with an agent as backup |
| Many insiders and frequent trades | A tool with deadline tracking and an audit trail | You need the clock and the record for Item 405 |
| You're a foreign private issuer | GoFiler, Toppan Merrill or Computershare | They document the 2026 changes |
| You want someone else to file | M2 Compliance, EdgarAgents or DataTracks | Full-service filing for you |
| You want the ledger, deadline clock and filing in one tool | Finrep Section 16 | One system tracks, files and keeps the Item 405 record |
Lanes can mix. Merrill, for one, sends trade details to whoever files the Form 4.
Pick the lane first. Then use the checklist below to choose within it.
What should Section 16 compliance software do?
Seven things. It should track deadlines, take in plan data, file with the SEC, keep an audit trail and handle foreign insiders. It should also cover Forms 3 and 5, and its price should be clear.
Deadline tracking
A Form 4 is due "before the end of the second business day" after the trade, under Section 16(a). The SEC staff adds that forms "must be submitted and accepted by EDGAR" by 10 p.m., Eastern time. So finish by 10 p.m., don't start then.
Most companies make it. 93.3% of Q3 2026's Form 4s were filed within two business days of the earliest transaction they reported. Sales did best at 97.0%, and forms with the Rule 10b5-1 box ticked reached 98.5%.
Open-market purchases trailed at 91.4%. Our reading: the misses cluster where legal hears about a trade late, such as an insider's own purchase.
Some forms filed after day two aren't late at all, because 10b5-1 trades can carry a later deemed date. Our Form 4 deadline guide covers the rule. See also which transactions trigger a Form 4.
Plan and broker data
A form can only be as fast as the data behind it. Ask where every grant, vesting and trade comes from and who types it in. Our walkthrough of Section 16 reporting for equity awards shows which plan events need a form.
Filing with the SEC
Some tools file and some only prepare. Under EDGAR Next, a vendor files as your delegated agent or with tokens from your own account. Ask which, and who holds the administrator role.
The SEC's user API tokens last 30 days, so also ask who renews them.
Audit trail
A missed Form 4 shows up in next year's proxy under Item 405. You need a record of what was due, when it went in and who touched it. Our Form 4 amendment guide covers how to correct a filing.
Foreign insiders
FPI insiders can use the new optional foreign trading symbol and country fields. Ask whether the vendor's forms carry them today, and how it handles the exemptive orders.
Forms 3, 5 and 144
Form 3 starts a new insider's record, and Form 5 sweeps up the year. Check that the tool also ticks the 10b5-1 box and stores powers of attorney. Our guide to Forms 3, 4 and 5 explains when each applies.
Price
Only Form345 publishes a paid price. Most others quote on request, so ask for the cost per insider and per form.
How the Section 16 filing software compares
Finrep makes one of these tools. No vendor paid to be listed, and we checked other vendors' facts against their public pages on October 19, 2026. Finrep's facts come from our own product page and documentation.
The two tables hold what we could document for each tool. "Not documented" means we looked on the vendor's public pages and didn't find it. It doesn't mean the feature is missing.
We didn't test these tools hands-on. Most have no public trial, and a test would mean filing a form. The filer-code column comes from our own EDGAR count.
Workflow
| Tool | Deadline tracking | Plan or broker data | Forms covered | Audit trail | Foreign insiders |
|---|---|---|---|---|---|
| Finrep Section 16 | ✓ Two-business-day clock with SEC holidays | ✓ Broker imports, vesting schedules, SEC history | ✓ Forms 3, 4 and 5 | ✓ Who changed what and when | Not documented |
| SEC EDGAR Online Forms | None described | ✕ Typed in for each form; no saved drafts | ✓ Forms 3, 4, 5 and amendments | None described | New optional fields in the 2026 form rules |
| Computershare Section 16 Manager | Overdue view and reminders | Fills from its own records; plan feed not documented | ✓ Forms 3, 4, 5 and amendments | ✓ Audit trails | FPI article; fields not documented |
| Certent Equity Management | Alerts before a deadline | ✓ Same system as the plan; Broker Connector | ✓ Forms 3, 4 and 5 | ✓ Audit trails | Not documented |
| Shareworks | 2020 page: filing alerts | 2020 page: plan-triggered workflow | One line today: Section 16 filings | 2020 page: yes | Not documented |
| Workiva Section 16 | Not documented | CSV import, mass grants | ✓ Forms 3, 4, 5 and amendments; 144 separately | Holding history; platform log | Blog says yes; fields not documented |
| DFIN ActiveDisclosure | System reminders | Not documented | ✓ Forms 3, 4, 5, plus 144 and 13D/G | ✓ Full audit trail (platform claim) | Blog says yes; fields not documented |
| Toppan Merrill SEC Connect | General SEC filing calendar | Not documented | ✓ Forms 3, 4, 5, plus 144 and 13D/G | Not documented | ✓ Worksheets carry the new fields |
| RDG 16 | Not documented | EDGAR history import | ✓ Forms 3, 4 and 5 | Filing history | Not documented |
| Novaworks GoFiler | Not documented | General import tools | ✓ Forms 3, 4, 5; 144 module | Not documented | ✓ March 2026 release for foreign owners |
| Form345 (Colonial Filings) | ✓ Two-day reminders and SEC holiday calendar | Holdings tracked; SEC profile sync | ✓ Forms 3, 4, 5; 144 listed | ✓ Audit trail | Not documented |
| Romeo & Dye Filer / FileSEC16 | Not documented | EDGAR history import | ✓ Forms 3, 4 and 5 | Not documented | ✓ Foreign ticker field at sign-up |
| M2 Compliance | Not documented | Not documented | ✓ Forms 3, 4 and 5, full service | Not documented | Not documented |
| EdgarAgents | Not documented | Not documented | ✓ Forms 3, 4, 5 and amendments | Filing history stored | ✕ Its May 2026 guide says FPIs don't file |
| DataTracks | Alerts | Not documented | ✓ Forms 3, 4 and 5 | ✓ Audit trails | Not documented |
| Section 16 Agent | Not documented | Spreadsheet upload | Forms 3 and 4; Form 5 planned | Export log | Not documented |
Filing and price
| Tool | Files with the SEC | EDGAR Next | Q3 2026 Form 4s under its filer code | Price |
|---|---|---|---|---|
| Finrep Section 16 | ✓ Test and live filing through EDGAR Next APIs | ✓ Filer and user API tokens, delegation checks | None identified | On request |
| SEC EDGAR Online Forms | ✓ You file it yourself | ✓ Login.gov and MFA for every user | Counts under your own code | ✓ No software to buy |
| Computershare Section 16 Manager | ✓ API submission your team runs | ✓ EDGAR Next tokens | None identified | On request |
| Certent Equity Management | ✓ Files from the plan system | Resource page and webinar | None identified | On request |
| Shareworks | 2020 page: one-click filing | Not documented | None identified | Not published |
| Workiva Section 16 | ✓ As your agent or with your tokens | ✓ Enrollment, delegation, token reminders | 2,580 (7.7%) as agent | On request |
| DFIN ActiveDisclosure | ✓ Self-service, or DFIN as agent | ✓ Delegation, annual confirmation | 4,759 (14.2%) | On request |
| Toppan Merrill SEC Connect | ✓ Self-service or full service | ✓ Delegation, user tokens | 1,209 (3.6%) | On request |
| RDG 16 | ✓ Self-service or full service | Enrollment help | None identified | Flat-rate or as needed |
| Novaworks GoFiler | ✓ From the desktop app | ✓ Login.gov MFA built in | None identified | Subscription |
| Form345 (Colonial Filings) | ✓ Colonial files as your agent | Code management, onboarding | None identified | ✓ $50 a form or $750 a year |
| Romeo & Dye Filer / FileSEC16 | ✓ The web app files | App sign-in MFA; rest not documented | None identified | Licence or pay as you go |
| M2 Compliance | ✓ As your agent, 24/7 | ✓ Delegation to its agent code | 945 (2.8%) | Not published |
| EdgarAgents | ✓ Portal or full service | ✓ Delegation to its agent codes | 860 (2.6%) | Not published |
| DataTracks | ✓ Portal or full service | Claimed, no detail | None identified | On request |
| Section 16 Agent | ✕ Not yet; builds an XML package | You file the package | Not applicable | ✓ Free during the beta |
How do you file a Form 4 yourself on EDGAR?
Use the SEC's EDGAR Online Forms website. An insider, or someone on the account, can file Forms 3, 4 and 5 there with no software to buy.
1. SEC EDGAR Online Forms
What it is
The SEC's own website for preparing Forms 3, 4 and 5 and their amendments.
What it covers
One form per session. You can't save work in progress, the SEC's guide says. You also enter each reporting owner's CIK and access code every time.
How filing works
You file it yourself. Everyone acting on the account signs in with Login.gov and multifactor authentication, and online submissions are live filings. The accession number carries your login CIK, so these filings count as "own codes."
Price
No software to buy.
Best for
An insider or small company filing a handful of forms a year.
Watch out for
- No deadline help documented. The SEC's guides describe nothing that tracks the two business days.
- Codes take time. A new insider needs a Form ID first. The SEC says reviews average two business days, excluding federal holidays.
- Finish early. The form must be accepted by 10 p.m. Eastern, not started then.
Does your equity plan administrator file your Form 4s?
Sometimes. Certent, Computershare and Shareworks document Section 16 filing on their own pages.
Schwab, Fidelity, Merrill and EQ document help around the filing, but none says plainly that it files Form 4s.
2. Computershare Section 16 Manager
What it is
An online service from Computershare's Entity Solutions unit for creating, managing and submitting Forms 3, 4 and 5.
What it covers
It shows "overdue filings and reminders," tracks holdings and audit trails and imports past filings from EDGAR. A filing wizard fills Forms 3, 4 and 5 from the transactions it holds. It also tracks nonreportable events "such as dividend reinvestments."
How filing works
Your team runs it. It submits forms "directly to EDGAR via secure APIs" and supports EDGAR Next tokens. It's the only plan-side vendor here with an article on the March 18 FPI rule.
Price
Not published, but Computershare offers a demo.
Best for
In-house teams that want their own software with API filing, including FPIs.
Watch out for
- No documented feed from Computershare's share-plan business or insiders' brokers. Ask how trades get in.
- Old terms. The online terms are dated April 1, 2015, so get the current order form.
3. Certent Equity Management (insightsoftware)
What it is
Equity plan software from insightsoftware, with Section 16 as an add-on module.
What it covers
It has the clearest plan-data link in this guide. Forms "are filed directly with the SEC from the same system that holds the transaction," Certent says. A Broker Connector links "most major brokerage firms," and alerts flag events "before a deadline."
How filing works
The software files directly, and audit trails stay current. A 2022 services list also offered filing for customers from a template.
Price
Not published.
Best for
Companies whose plan already runs on Certent.
Watch out for
- It's an add-on. Check your subscription includes Section 16.
- Outside trades. Confirm how trades at an insider's personal broker get in, whether by connector or by hand.
4. Shareworks by Morgan Stanley
What it is
Morgan Stanley at Work's equity platform. Its current page lists "Section 16 filings" among the reporting events it manages.
What it covers
The detail comes from a 2020 archived page. It described a workflow that each insider transaction triggers, filing alerts and an audit trail. Morgan Stanley's Executive Services team also supports insiders with 10b5-1 trading plans and Rule 144 sales.
How filing works
The 2020 page offered "EDGAR one-click filing and status retrieval." Today's pages don't say who submits.
Price
Not published.
Best for
Companies already administering their plan on Shareworks.
Watch out for
- Thin current documentation. Confirm the module and its EDGAR Next handling in a demo.
Which Section 16 platforms do legal teams run in-house?
Workiva, DFIN and Toppan Merrill lead, with smaller SaaS and desktop tools behind them. They all file to EDGAR and differ most on deadlines, data and price.
5. Workiva Section 16
What it is
A Section 16 app inside Workiva's SEC reporting platform, which handles "more than 350 different SEC form types."
What it covers
Forms 3, 4, 5 and amendments, with CSV and past-form imports and "Mass Grants" batches. It stores powers of attorney and access codes, and has its own filer role.
How filing works
Workiva files as your delegated agent, under codes 0001628279 and 0001628280. Or it files with your own filer token. In Q3 2026 its agent code filed 2,580 Form 4s for 346 issuers.
Price
Custom quote.
Best for
Companies already filing their 10-K on Workiva.
Watch out for
- Loose deadline text. A help article gives the deadline as "within two days of the transaction (buy or sell)" without saying business days. The rule counts business days and covers grants and gifts too.
- Bulk filing. An August 2025 note said Section 16 bulk filing under EDGAR Next was "coming soon." We found no later update.
- Deleting forms. Deleting one also deletes its transactions and can make later balances wrong.
6. DFIN ActiveDisclosure Section 16
What it is
DFIN's software for Section 16, Form 144 and Schedules 13D and 13G, sold alone or inside ActiveDisclosure.
What it covers
It files "for multiple reporting owners," auto-fills forms from saved data and sends "system reminders" to cut missed deadlines. The page also claims a full audit trail of signatures, changes and approvals.
How filing works
You "create, test and live file with the SEC," or delegate to DFIN's agent codes. In Q3 2026, the filer code DFIN uses for its own SEC reports filed 14.2% of all Form 4s.
Price
On request.
Best for
ActiveDisclosure customers, and teams that want self-service with an agent behind it.
Watch out for
- Platform-wide claims. The reminders and audit trail sit in a general ActiveDisclosure list. Confirm them for Section 16 in a demo.
- No named data feeds. Ask how plan grants get in.
7. Toppan Merrill SEC Connect
What it is
Toppan Merrill's web platform for Section 16 forms, Form 144 and Schedules 13D and 13G. Its team also files from emailed worksheets.
What it covers
The worksheets already carry a "Foreign Trading Symbol" line and the 10b5-1 checkbox. Support runs 24/7, and filings return EDGAR's acceptance or suspension.
How filing works
Self-service or full service. Even platform users are asked to delegate to its codes, 0001104659 and backup 0001410578. The primary code filed 1,209 Form 4s for 292 issuers in Q3 2026.
Price
On request.
Best for
Teams that want self-service with full service as a fallback, and FPIs.
Watch out for
- Product names. Section 16 sits in SEC Connect, and Bridge is its EDGAR and iXBRL tool.
- Form ID timing. Its FPI post says Form ID reviews average six business days, while the SEC's December 2025 guide says two. Apply early either way.
8. RDG 16
What it is
A cloud tool from RDG Filings, a division of Research Data Group. It files Forms 3, 4 and 5 "directly with the SEC" from a web app.
What it covers
It imports your filing history and works out shares owned after each trade. Libraries hold your usual footnotes and powers of attorney.
How filing works
Test or live filing yourself, or full service, "available 24/7." It also helps with Form ID.
Price
Flat-rate annual or as needed, with amounts not published.
Best for
Small teams that want simple software with full service behind it.
Watch out for
- Stale EDGAR Next page. It still reads as pre-transition guidance, so check current rules on sec.gov.
9. Novaworks GoFiler
What it is
Windows desktop EDGAR software with a "Section 16 Ownership Forms" module.
What it covers
Create, import, validate and file. A March 2026 release brought "new rules regarding foreign reporting owners and issuers" into the software. GoFiler can also act as a Login.gov authenticator app.
How filing works
You file from the desktop app. Novaworks also documents EDGAR API set-up for its software.
Price
A subscription with paid modules, at prices Novaworks doesn't publish.
Best for
Filing agents and in-house teams who prefer desktop software and install updates promptly.
Watch out for
- Update risk. The FPI release applied the changes "a day early," and users were told to clear fields or roll back. Desktop tools depend on timely installs.
10. Form345 (Colonial Filings)
What it is
A self-filing web app from Colonial Stock Transfer, sold as Form345 and Colonial Filings and offered by affiliate Southridge Services.
What it covers
"Deadline tracking with reminders for the strict two-day filing window," plus a calendar of "SEC filing deadlines and SEC holidays." It tracks holdings, stores powers of attorney and exports to Excel.
How filing works
You file from the app, and Colonial acts as your filing agent under its terms.
Price
$50 a form, or $750 a year for one issuer with unlimited filings. No other vendor here publishes a paid price.
Best for
Occasional filers and small issuers who want a known price.
Watch out for
- You own the content. The terms call the site "a passive conduit."
- Prices load from a widget. Check them on the day you buy.
11. Romeo & Dye Section 16 Filer and TMX Newsfile FileSEC16
What it is
A web filer sold by CCRcorp, publisher of Section16.net. TMX Newsfile sells FileSEC16, and the two appear to share one app, since their sign-up forms match.
What it covers
Forms 3, 4 and 5, with past filings imported from EDGAR. Both sign-up forms ask for a "Company Foreign Ticker Symbol," and sign-up offers multifactor authentication.
How filing works
The web app files to EDGAR, and Newsfile also offers full service.
Price
A licence from CCRcorp, or pay as you go from Newsfile, at prices neither publishes.
Best for
Law firms and practitioners who already use Section16.net.
Watch out for
- Dated pages. FileSEC16's page still lists 2003-era SEC notices. Confirm current features with the vendor.
Two more tools file Section 16 forms, with little public detail. QES sells web software that "creates, organizes and files" the forms. Broadridge offers "self-service insider reporting software" in one public sentence.
When does a filing agent or an AI drafter make sense?
When you'd rather someone else prepared the form or pressed submit. Full-service agents file for you, while Section 16 Agent drafts but doesn't file.
12. Full-service filing agents: M2 Compliance, EdgarAgents, DataTracks
What they are
M2 Compliance offers "a full-service Section 16 filing solution" for Forms 3, 4 and 5. It works 24/7, emails acceptance notices and filed 945 Form 4s for 225 issuers in Q3 2026.
EdgarAgents runs EA 16, a portal to create and transmit Forms 3, 4 and 5 and their amendments. It files full service too. Its primary agent code filed 860 Form 4s for 214 issuers in Q3 2026.
DataTracks offers a self-help portal or full service, and claims audit trails, alerts and EDGAR Next compliance.
How filing works
You delegate to the agent's code in EDGAR Next: 0001493152 for M2, or 0001213900 and backup 0001013762 for EdgarAgents.
Price
Not published.
Best for
Companies that want someone else to press submit, at any hour.
Watch out for
- You still own the deadline. An agent can only file what reaches it in time.
- EdgarAgents' FPI guide. Its May 13, 2026 guide says FPIs "are not obliged to follow Section 16 filing requirements" under the 1934 Act. For directors and officers, that stopped being true on March 18, 2026.
13. Section 16 Agent
What it is
An AI drafting tool in public beta, from Form 4 Agent, LLC. You describe the trade in plain English, by email or in a web app.
What it covers
Forms 3 and 4 today; its FAQ says Form 5 support is planned for Q4 2026. You can upload a spreadsheet, such as the plan administrator's file for an annual grant. "Nothing exports without your sign-off."
How filing works
It doesn't file. Its FAQ answers "Not yet," and says it produces "the EDGAR-ready XML submission package" instead. Someone with EDGAR access submits it.
Price
"Full access, all completely free during the public beta."
Best for
Lawyers and paralegals drafting many forms who already have EDGAR access.
Watch out for
- Drafts only. Its terms call outputs "draft materials only."
- Self-reported accuracy. The 95% accuracy figure is the vendor's own.
Finrep Section 16
Finrep Section 16 runs the insider ledger, the deadline clock and EDGAR filing in one system. It files through the SEC's EDGAR Next APIs.
14. Finrep Section 16
What it covers
- A live ledger of covered persons, holdings and open derivative positions. It draws on SEC history, vesting events, broker imports and manual entries.
- The two-business-day clock, calculated against SEC business days with the SEC holiday calendar. Form 3 and Form 5 run on their own timelines.
- An unreported queue that separates unreported from non-reportable events, plus vesting schedules that predict upcoming filings.
- 10b5-1 trades arrive with the plan checkbox and footnote filled in.
- Late filings are flagged and carried into the proxy's Item 405 workflow. If a matching trade sits within six months, a Section 16(b) short-swing analysis appears too.
How filing works
A Form 3, 4 and 5 builder works out post-trade holdings and checks the XML before filing. You test-file or live-file through the SEC's EDGAR Next APIs, using your account's filer and user API tokens. It also checks your delegations and when each token expires. Each accession number is stored. Only admins can file.
Every change carries an audit trail of who changed what and when. A footnote library suggests wording, which a person reviews before filing.
Price
Finrep Section 16 is sold as its own product, with pricing on request.
Best for
SEC reporting and legal teams that want the deadline clock, filing and Item 405 record in one place.
When to skip Finrep
If your plan administrator already files your Form 4s, keep it. If you file a few forms a year, the SEC's online forms or Form345 will do.
How to switch Section 16 software without missing a Form 4
Switch between filing cycles, and run the old and new systems side by side once. Confirm who belongs on the insider roster using our Section 16 officer definition guide. The hard part is EDGAR access: an agent files for an insider only after that insider's account delegates to it.
Sign the new vendor's contract before you change delegation. The SEC tells filers to delegate only to an account they have "an existing agreement" with.
Two EDGAR Next chores also fall in the switch. Administrators must confirm each account every year, so update the user list as you go. New insiders still need a Form ID, so apply before their first trade.
Common questions
What is the best software for filing Section 16 reports and Form 4s?
It depends on who holds the data and who files. Occasional filers can use the SEC's EDGAR Online Forms or Form345. Companies already on Certent or Computershare can start there, while legal teams can run Workiva, DFIN or Toppan Merrill in-house.
How do we make sure every Form 4 is filed within two business days?
Get trade data to the filer the day it happens, and count business days with SEC holidays excluded. Submit well before 10 p.m. on day two, Eastern time, since the form must be accepted by then. Keep each deadline on record for the proxy's Item 405 review.
Can I file a Form 4 myself on EDGAR?
Yes, on the SEC's EDGAR Online Forms website, with no software to buy. You need EDGAR access, Login.gov credentials and multifactor authentication. The site takes one form at a time and can't save drafts.
Who files most Form 4s?
Issuers and insiders themselves, by filer code. In Q3 2026, 51.4% of the 33,521 Form 4s went in under their own EDGAR codes. The filer code DFIN uses for its own reports filed 14.2%, and Workiva's agent code 7.7%.
Does my equity plan administrator file Form 4s for me?
Only some do. Certent and Computershare document Section 16 filing, and Shareworks lists it in one line. Schwab, Fidelity, Merrill and EQ document help around the filing, but none says plainly that it files Form 4s.
What does EDGAR Next change for Form 4 filers?
Everyone acting on EDGAR now signs in with Login.gov and multifactor authentication. Each filer names account administrators, who can delegate to an agent and must confirm the account every year. Through October 17, 2026, 95 companies' proxies or 10-Ks tied a late Section 16 report to EDGAR access.
Do directors of foreign private issuers file Form 4s now?
Yes, since March 18, 2026, unless an exemptive order covers them because they already report at home. The nine covered jurisdictions are Canada, Chile, the EEA, Korea, Switzerland, the UK, Australia, India and Singapore. 10 percent holders of foreign private issuers don't file.
What happens if a Form 4 is filed late?
The company must list it as late in its proxy under Item 405 of Regulation S-K. Late reports can also draw SEC enforcement. Our guide to Section 16 late-filing penalties covers the cases.
How much does Section 16 filing software cost?
Most vendors quote on request. Form345 publishes $50 a form, or $750 a year for one issuer with unlimited filings. Section 16 Agent is free during its public beta.
