With compliance dates approaching, reviewing the SEC’s mandate for operating companies and funds that they report their financial information in Inline XBRL (iXBRL) is important. These requirements date back to June 2018, when the SEC passed rules seeking to modernize and simplify financial reporting for these filers. Unlike traditional XBRL which produces a XML document containing only tagged, structured data that is difficult for a human reader to understand and interpret, iXBRL involves embedding XBRL data directly into an HTML filing so that the disclosure document is both human-readable as a formatted report of financial information and machine-readable since the tagged data can be collected and used in subsequent analyses in any number of ways. Using iXBRL improves the data’s usefulness, timeliness, and quality, which benefits investors, regulators, market participants, and other data consumers. Inline XBRL also reduces burdens and complexity to registrants and preparers as only one document containing both the formatted report and the structured data must be produced.

New filers seeking access to EDGAR must now use an updated online version of the Form ID EDGAR access application. This change went into effect June 10, 2019. The updated online version of Form ID provides applicants with enhanced user functions that should facilitate users’ abilities to save, complete, and upload the notarized Form ID authentication document.

Version 5.0a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR Release 19.2 and contains a number of improvements to XDX, a new edit window type for editing CSV and structured data sheets, a new look for the icons and buttons of the user interface, and a large underlying change to HTML editing. Additionally, this version contains support for the IFRS 2019 and DEI 2019 taxonomies.

On June 10, 2019, EDGAR Release 19.2 was released by the Securities and Exchange Commission. This release included new cover page tagging requirements for certain forms filed in Inline XBRL. Also new are a number of changes to Form MA and an enhanced “Application for EDGAR Access (Form ID)” that is available on the EDGAR Filer Management Website.

The SEC will be closed Monday, May 27 in observance of Memorial Day. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of May 27 will be due the following business day. Novaworks will also be closed on Memorial Day.

Starting with their first 10-Q filed for a fiscal period ending on or after June 15, large accelerated filers will be required to submit interactive data using Inline XBRL. Included in this transition are the new requirements, adopted by the SEC in March as part of the FAST Act Modernization and Simplification of Regulation S-K, to tag additional information that is visible on the cover page of Form 10-Q, Form 10-K and Form 8-K.

The SEC has released the draft version of the 2019 DEI taxonomy for public review. This taxonomy contains the elements required for the tagging of cover page data for Inline XBRL submissions and is open for public comment until June 6, 2019.

On April 24th, the SEC announced the agenda for its May 31st forum that will discuss distributed ledger technology and assets. This conference, which is the 2019 FinTech Forum, will be held by the SEC’s Strategic Hub for Innovation and Financial Technology (FinHub) and will begin at 9:30 am EST in Washington, DC at the SEC’s Headquarters. It will be open to the public on a first-come, first-serve basis.

On April 1, 2019, EDGAR Release 19.1.1 was released by the Securities and Exchange Commission. This release included a new “confidential” flag for NPORT-P and NPORT-NP filings as well as changes to the Dissemination Rule for N-PORT filings. Additionally, filers are now allowed submit NPORT-EX as an attachment to NPORT-P and NPORT-NP after August 31, 2019.

Version 4.26b of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR Release 19.1.1 and contains a number of improvements to Form N-CEN View and Form N-PORT View. Additionally, this version contains new functions for XDX, support for the XBRL Previewer for EDGAR 19.1.1, and improvements to some general EDGAR tools.

The next release of GoFiler, version 4.26b, has been scheduled for release on Friday, March 29. Please note that this deviates from our normal update schedule. This change has been made to ensure that users will have uninterrupted access to all of the filing tools should they require the updates for EDGAR 19.1.1, which is due for release by the SEC on April 1.

On March 20th, the SEC adopted amendments to modernize and simplify disclosure requirements in Regulation S-K for public companies, investment advisers, and investment companies. Like previous amendments, these changes are consistent with the SEC’s mandate under the Fixing America’s Surface Transportation (FAST) Act and are based on recommendations in the staff’s FAST Act Report and a broader review of the SEC’s disclosure rules. These changes are expected to benefit investors through eliminating outdated and unnecessary disclosure while improving the readability and navigability of company disclosures. They should also reduce repetition and the disclosure of irrelevant and immaterial information. In addition, these amendments are expected to reduce costs and burdens on registrants.

With the last EDGAR release, the Securities and Exchange Commission updated EDGAR to accept the US GAAP 2019 taxonomy among other new taxonomies. It’s always a good practice to transition your SEC filings as soon as possible when the SEC accepts the new taxonomy year.

Version 4.26a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR Release 19.1 and contains a number of improvements to Form N-CEN View, general EDGAR forms, and XBRL. Additionally, this version contains support for the US GAAP 2019 taxonomy.