Upcoming Final Phase-In Date for Inline XBRL for Operating Companies

Upcoming Final Phase-In Date for Inline XBRL for Operating Companies

By Nikita Kulkarni 15 June, 2021
On June 28, 2018, the Commission adopted amendments requiring the use of Inline XBRL for operating company financial statement information and fund risk/return summary information. Inline XBRL allows filers to prepare a single document that embeds machine-readable data directly into a human-readable document, thus providing data users with an easier way to view, access, and explore the contextual information of the underlying data.

Beginning on June 15, 2021, all operating companies submitting structured financial statement information for fiscal periods ending on or after that date must submit it and cover page information that is required to be tagged in Inline XBRL. Large accelerated filers and accelerated filers that prepare their financial statements in accordance with U.S. GAAP are already subject to this requirement. For domestic form filers that are not large accelerated filers or accelerated filers, this requirement will be effective beginning with their first Form 10-Q for a fiscal period ending on or after that date.

If you have any data structuring questions about the Inline XBRL requirements, please email StructuredData@sec.gov. For questions on legal compliance with the Inline XBRL requirements, please contact the Office of Chief Counsel in the Division of Corporation Finance at https://www.sec.gov/forms/corp_fin_interpretive.