When does the one-year Securities Act discovery component expire?

For Section 11 or Section 12(a)(2) liability, Section 13 requires suit within one year after discovery of the untrue statement or omission, or when reasonable diligence should have discovered it. The separate three-year repose component must also be satisfied. Section 12(a)(1) instead uses one year after the violation and is outside this discovery preset.

Responsible actor. The plaintiff enforcing Section 11 or Section 12(a)(2) liability.

Identify whether the pleaded liability is Section 11, Section 12(a)(2), or another provision.

Establish the actual or constructive discovery date.

Compare the claim-specific three-year offering or sale component.

Use only the discovery branch for an independently identified Section 11 or Section 12(a)(2) claim. Determine the applicable offering or sale event for the separate repose comparison.

1. Established discovery, or discovery required by reasonable diligence, of the untrue statement or omission
2. For the established federal civil court component, FRCP 6(a)(1) excludes the trigger day and includes intermediate weekends and holidays. A period in months or years uses its corresponding calendar date, rather than a fixed number of days. The final weekend or legal holiday moves forward under Rule 6(a). A target month or year without the corresponding day requires separate endpoint review; this calculator refuses that input.
3. Bring the identified Section 11 or Section 12(a)(2) action within the applicable discovery and repose boundaries. Verify the actual court and its filing rules.

Retained 2024 annual U.S. Code, laws in effect January 6, 2025. The subsequent-law review covers the retained 119th Congress corpus through Public Law 119-118, approved September 30, 2026. Its scoped candidate findings do not establish every claim-specific exception or later judicial application. This page requires the stated covered cause and legally established event. Court computation uses the retained December 1, 2025 FRCP compilation; identified agency regulations use their separately stated 2026 API editions.

The calendar covers established events and results from January 1, 2025 through December 31, 2033. OPM observations for 2025–2030 are independently checked. Dates in 2031–2033 are standing-rule projections under 5 U.S.C. § 6103, not published OPM schedules. Additional presidential, congressional or district-state holidays, amendments and actual clerk inaccessibility require separate review. Inauguration Day is not treated as a nationwide district-court holiday. The coverage boundary does not establish statutory applicability or lateness.

Fictitious example

Fictitious independently established facts. Use only the discovery branch for an independently identified Section 11 or Section 12(a)(2) claim. Determine the applicable offering or sale event for the separate repose comparison.

Fictitious independently established events and classifications. The displayed result is this one untolled component. Securities earlier-of comparisons and alternative wage classifications are separately identified. These examples do not determine accrual, discovery, statutory liability, the actual forum, an exception, a completed filing or an unrecorded closure. Use only the discovery branch for an independently identified Section 11 or Section 12(a)(2) claim. Determine the applicable offering or sale event for the separate repose comparison.

Section 12(a)(1)

Its one-year violation branch has a different trigger and cannot be answered by entering a discovery date here.

Reasonable diligence

A date of actual discovery does not control if the statutory diligence test produces an earlier discovery event.

Different repose events

Section 11 uses bona fide public offering. Section 12(a)(2) uses sale.

Calendar and endpoint coverage

The calendar covers established events and results from January 1, 2025 through December 31, 2033. OPM observations for 2025–2030 are independently checked. Dates in 2031–2033 are standing-rule projections under 5 U.S.C. § 6103, not published OPM schedules. Additional presidential, congressional or district-state holidays, amendments and actual clerk inaccessibility require separate review. Inauguration Day is not treated as a nationwide district-court holiday. The coverage boundary does not establish statutory applicability or lateness.

• Use only the discovery branch for an independently identified Section 11 or Section 12(a)(2) claim. Determine the applicable offering or sale event for the separate repose comparison.
• The calculation supplies the stated component on established facts. Unmodeled tolling, competing components and claim-specific exceptions require separate controlling review.

• Identify whether the pleaded liability is Section 11, Section 12(a)(2), or another provision.
• Establish the actual or constructive discovery date.
• Compare the claim-specific three-year offering or sale component.
• Its one-year violation branch has a different trigger and cannot be answered by entering a discovery date here.
• A date of actual discovery does not control if the statutory diligence test produces an earlier discovery event.
• Section 11 uses bona fide public offering. Section 12(a)(2) uses sale.
• For this federal civil court component, FRCP 3 uses filing the complaint to commence the action, subject to a specific statutory requirement such as claimant written consent. Under FRCP 6(a)(4), the last day ordinarily ends at midnight in the court’s time zone for electronic filing, or at scheduled clerk closing for other filing. A different statute, local rule or court order can set a different time. Establish the actual court and completed filing; an unsuccessful attempt is not automatically a completed filing. Rule 6(a)(3) concerns actual clerk inaccessibility. Rule 6(d) is not an automatic addition to statutory accrual, discovery, denial-mailing or notice-receipt components.