Wanted to provide a quick heads up here about our old pal, the 2019 US GAAP taxonomy (UGT).
Since we know the SEC will only support two taxonomies at a time, and coupled with the fact that the 2021 UGT taxonomy has been made available, we anticipate that soon the 2019 UGT will no longer be supported by the SEC, as has been the case in previous years. We want to make sure you don't run into any issues so if you are unsure about your own filings, you may want to confirm that you are migrated into either the 2020 or 2021 UGT. As a reminder, it is recommended that you do not skip years when migrating either, i.e. going from 2019 to 2021.
If you are still in the 2019 UGT, we recommend the following steps to migrate to the 2021 UGT:
- Migrate your file to the 2020 UGT;
- Address all deprecated and action items from the migration log;
- Migrate to the 2021 UGT
We'll provide an update here just as soon as the 2019 is officially unsupported, but if there are any questions along the way, feel free to reach out here, to your PSM or CSM, or our 24/7 customer support team and we'll be happy to help. Thanks much, and happy filings!