DEFINITION of 'SEC Form 10-KSB405'
A Securities and Exchange Commission (SEC) form similar to the 10-K405 but for small businesses. Both forms were used by the SEC prior to 2003. It was used when a company did not file a Form 4 (or similar 3 or 5) disclosing their insider trading activities on time.
BREAKING DOWN 'SEC Form 10-KSB405'
Guidelines for reporting insider trading activity is covered under Section 16 of the Securities Exchange Act. Forms 10-K405 and 10KSB405 were eliminated after it was determined that the use of the forms was inconsistent and unreliable. The form is no longer accepted by the EDGAR system.