Notification That Annual Report Will Be Submitted Late (nt 10-k)

Date : 02/29/2016 @ 10:22PM
Source : Edgar (US Regulatory)
Stock : Santander Consumer Usa Holdings Inc. (SC)
Quote : 20.63  -0.31 (-1.48%) @ 3:32PM
Santander Consumer USA Holdings share price Chart

Notification That Annual Report Will Be Submitted Late (nt 10-k)

SEC File Number 001-0414408

CUSIP Number 80283M 101

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 12b-25

 

 

NOTIFICATION OF LATE FILING

 

(Check one):      

x  Form 10-K     ¨  Form 20-F     ¨  Form 11-K     ¨  Form 10-Q

¨  Form 10-D     ¨  Form N-SAR     ¨  Form N-CSR

  For Period Ended: December 31, 2015
  ¨  Transition Report on Form 10-K
  ¨  Transition Report on Form 20-F
  ¨  Transition Report on Form 11-K
  ¨  Transition Report on Form 10-Q
  ¨  Transition Report on Form N-SAR
  For Transition Period Ended:     

 

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

 

PART I — REGISTRANT INFORMATION

Santander Consumer USA Holdings Inc.

Full Name of Registrant

Not Applicable

Former Name if Applicable

1601 Elm St. Suite #800

Address of Principal Executive Office (Street and Number)

Dallas, Texas 75201

City, State and Zip Code

 

 

PART II — RULES 12b-25(b) and (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

x      (a)  

The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense

 

  (b)  

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

 

  (c)   The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

 

PART III — NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Santander Consumer USA Holdings Inc. (the “Company”) is delaying the filing of its Annual Report on Form 10-K for the Company’s fiscal year ended December 31, 2015 (the “Form 10-K”) at this time because the Company’s financial statements have not yet been completed. The Company currently has an open comment letter from the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) on the Company’s Form 10-K for the fiscal year ended December 31, 2014 and Form 10-Q for the quarter ended September 30, 2015 with respect to the Company’s credit loss allowance, including the removal of seasonality and the increase in troubled debt restructuring (“TDR”) impairment during the quarter ended September 30, 2015 as well as certain TDR disclosures in both periods. The Company continues to discuss these matters with the SEC and the Company’s independent registered public accounting firm and will file the Form 10-K as soon as possible.

 

 

PART IV — OTHER INFORMATION

 

(1)  Name and telephone number of person to contact in regard to this notification.

 

Ismail Dawood        (214)       237-3779
(Name)        (Area Code)       (Telephone Number)

 

(2)  Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).     x  Yes    ¨  No

 

(3)  Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ¨  Yes    x  No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

 

 

Santander Consumer USA Holdings Inc.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date     February 29, 2016     By  

 /s/ Ismail Dawood

    Name   Ismail Dawood
    Title   Chief Financial Officer

 

 

 

 

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