LUX XML is a spreadsheet-based solution that supports annual statutory filings with the Luxembourg Business Register (Registre de Commerce et de Sociétés, or RCS). The statutory filing requirement is applicable to all entities registered in Luxembourg, regardless of their listing status, but disclosure requirements vary based on entity classification.
The benefits of Workiva's LUX XML capability include:
- Increased visibility: Complete the end-to-end reporting lifecycle in the Workiva platform.
- Increased efficiency: No need to outsource XML generation to an external tool or team and leverage Workiva’s collaboration and data management features.
- Increased confidence: Built-in validations ensure your XML output aligns with the RCS's standards. Additionally, Workiva's LUX XML capability has been certified by the RCS.
The LUX XML capability is built to be easy to use, but must first be implemented by Workiva or a Partner. To implement LUX XML for your account, contact your Customer Success Manager to discuss next steps.
You can see the Luxembourg profile option regardless of whether you've gone through an implementation, but the profile will not produce valid XML until after the implementation is complete and you have the correct template.
Getting started and generating XML
After your LUX XML implementation is complete, you are ready to get started. Navigate to the LUX XML spreadsheet for your entity to begin.
- Toggle on XBRL/XML in the toolbar.
- Apply a Luxembourg XML profile to your entity’s LUX XML spreadsheet. For more information on creating a profile, see Manage XBRL profiles.
- A new section will be added to your entity's spreadsheet during the implementation process. Review and populate data in the Document & Entity information, balance sheet, and Profit & Loss. Fields available for input are indicated with input mode (i.e. blue color). Fields that are auto-populated during the implementation process are locked and do not require editing. Some fields are auto-populated with a mapping formula and others are auto-populated with sums/arithmetic formulas.You may need to refresh WData connections to see the latest data in fields that are auto-populated. For more information on WData Connections, see our Wdata content.
- When all of the required fields are complete, generate your document and then review any validations. Validations are may be classified as Error, Warning, or Informational. Errors will prevent you from filing and must be resolved prior to filing with the regulator. You can move to the location of a validation by clicking on the blue link, if one exists.
- When validations are resolved and you are ready to file with the regulator, you can download your XML file from the Workiva platform and upload it to the RCS via their eCDF platform.