There are a number of combinations of situations, which can make EDGAR Next confusing. Some common scenarios are:
- A filer who wants to control all aspects of the filing. Every EDGAR Next filing using the API, where a user doesn’t manually log into the EDGAR website, requires two tokens - a Filer Token and User Token. The Filer Token requires an account to have two or more Technical Administrator users (who can also be Account Administrators) to create and manage the token, and it expires on a yearly basis. A Workiva customer would obtain this Filer Token and upload it into their Workspace Settings or would provide it with every filing.
On top of the Filer Token is the User Token, which is tied to an individual human (no group email addresses or non-individuals are permitted per the EDGAR Business Office and Final Rule). Practically, this would mean that the Test and Live Filing steps would prompt the user to select or input their tokens, instead of a password. The User Token is also allowed to be stored within the user’s profile, but note that this token expires every 30 days and only one User Token is allowed per user, across all filing agents. The User Token must belong to a user who is an account administrator or user-type user in the EDGAR Filer Management dashboard. - Delegated account (strongly preferred). In this situation, the filing’s primary CIK account has delegated to Workiva at the time of filing or previously delegated (delegations never expire). This allows Workiva’s software to use the Workiva Filer Token, relieving the filer of the need to manage and keep that token up to date. Note that a valid User Token associated with the primary account/CIK submitting the filing is still required, so there is little risk of an unauthorized submission since EDGAR Next will enforce that the filing has a valid User Token from either a user in the registrant’s account or an authorized Workiva employee. This is in addition to all of Workiva’s permission and other access control systems. Co-registrants CIKs are not considered for EDGAR Next filings, so the User Token must be related to the primary registrant, but any co-registrant accounts do not need individual delegation, but are still subject to the annual confirmation and account administrator requirements.
- File With Workiva. This filing option will continue to exist, but due to the requirement of having a human user involved and responsible for every filing in the EDGAR Next system, this will require the involvement of a Workiva employee and the delegation process completed, instead of the Workiva-internal code which is now that is all that is required to submit the File With Workiva filing. This scenario is still subject to change - Workiva has several meetings with the EDGAR Business Office scheduled prior to the end of the beta adopting period and will attempt to guide the EBO to best outcome for our customers.