Companies can file their financials between 7 am and 10pm. If a filing that is NOT a form 3,4 or 5 comes in after 5:30pm US EDT / EST, the filing will be considered for submission on the next business day.
How this effects our clients:
The SEC does not publish filings that come in after 5:30pm until 7:30 am the next business day.
Calcbench was using the file submission date / timestamp as a proxy for the filing date, which is correct in 90% of cases.
On heavy filing days, the Calcbench process can get backed up even for filings that are submitted prior to 5pm. On certain days, the Calcbench for filing processing process will continue late into the evening. We have observed filings being processed as late as 10:30 pm Eastern time. The critical caveat for these late evening processed filings is that they were all submitted PRIOR to 5:30 pm EASTERN time.
In the case of Google's 2016 10-k, the filing was submitted after 6pm on February 2nd, and therefore it was processed in the front of the EDGAR queue on February 3rd. Immediately after the SEC published the filing, on February 3rd Calcbench processed and published the filing.
Also note from https://www.sec.gov/edgar/
Finally, we took a look at all filings from 1/1/2013 until 4/6/2017 and found that 9.6% of all filings were submitted past the 5:30 pm cut-off time, and therefore would be considered as submissions for the following day.
** Days with extreme spikes were submissions on days like 12/26 ---