Chrysler Group LLC, the automaker managed by Fiat SpA , plans to file reports with the U.S. regulators divulging updates of its business and financial condition, the company said on Friday.

The company filed a Form 10 with the U.S. Securities and Exchange Commission on Friday to become a voluntary filer with the agency and file annual, quarterly and period reports.

The company said the move was intended to offer more transparency to U.S. and Canadian taxpayers as well as the United Auto Workers' healthcare trust.

Chrysler has been reporting quarterly earnings and has posted its results on its website since April 2010.

The automaker came to the brink of collapse before a government bailout in 2009. It is now led by Sergio Marchionne, who is chief executive of both Chrysler and Fiat.

The company was previously under the ownership of German automaker Daimler AG and then later, private equity firm Cerberus Capital Management.

We have not filed a 10-K with the SEC in more than a decade, and we have therefore had to develop our filings from scratch, Chrysler spokesman Gualberto Ranieri said.

The company plans to refinance the debt stemming from its U.S. bailout ahead of a potential initial public offering planned for the second half of this year.

Chrysler said its filing was unrelated to a potential IPO. Ranieri said filing with the SEC allowed the company to be more transparent as part of the terms of its operating agreement created in June 2009 after its bankruptcy.

We would be filing this Form 10 even if we had no plans to do an IPO, Ranieri said.

(Reporting by Deepa Seetharaman, editing by Matthew Lewis)

Chrysler