I came across with the SEC final rule on 11-K tagging. I think the rule has a three-year transition period. Does Workiva has a summary of the rule on the implementation date and tagging requirement? Thanks.
Thanks for asking.
Based on our interpretation of that ruling, as you stated, the requirement to tag Form 11-Ks is 3 years out. This ruling now appears in the Federal Register and the effective date will be July 11, 2022, meaning that this requirement would start to require XBRL in 11-Ks in July 2025. However, we encourage all filers to confirm with their legal counsel on where their fiscal year falls in relation to this effective date.
Hope that helps. Let me know what questions you have an if you need anything else. Cheers!0
Thanks Mike. Very helpful.0