EDGAR update: 8-K future date issue resolve plus new fields for 10-Q filings
Hi all!
Wanted to spread some good news, plus some new updates. But first, the good news.
What's changed
With the EDGAR v20.1 update on January 27, the SEC has now resolved the previously communicated issue around future dates in 8-K filings with XBRL. This update now allows filers to submit a test or live filing that meet those standards, which mostly impacted 8-Ks filings made between 5:31pm and 10:00pm EST with next business day dates applied.
Unrelated to the 8-K future date issue but also included in this update are two new required fields for all 10-Q, 10-Q/A, 10-QT, 10-QT/A. They are "Shell Company" and “Accelerated Filer Status”, which are found in the filing info. In addition, for forms 10-12B and 10-12G, only the "Accelerated Filer Status" field was added.
Previously, those values were not there for those listed forms. These changes were updated in Wdesk, and here's an example of what you'll see in the filing wizard:
Recap
Prior to this update, EDGAR would not have allowed a filer to submit an 8-K filing with a future date even if the future date was within allowable standards. This update now allows future filings for these form 8-K submissions. In addition, two new fields–Shell Company and Accelerated Filer Status–have been added to filing info for the above mentioned form types. These are required to be selected when filing those forms. Note that the 'Combined Filings' issue mentioned in this post still remains an issue. Fingers crossed this will be addressed in the next EDGAR update.
Should you have any further questions, just give us a holler. Thanks as always, and happy future filings all!
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Hi - it doesn't look like the EDGAR update came through so that you don't get an XBRL error message when test filing days before the 8-K filing. Do you know if/when this will be updated? Thanks,
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Hi Donna!
That is both a yes and not to your question here. The XBRL error message you are likely seeing (i.e. error when test filing 8-K prior to report date) is owned and operated by the SEC. Despite two years since, the SEC has addressed it and we're not aware of plans to address it. In this event, Workiva cannot update or alter that rule.
If that is the only error you are receiving when test filing, then you can assume that everything else is ok. If you do wish to bypass the error (and accept the related risk), you can temporarily change the Date of Report to an earlier date for the test filing process. The risk here is that you will need to ensure that you change the date back to the correct date when submitting your live filing.
Hopefully that helps address some of what you are seeing. Let me know if there are any follow-ups for me, or you need anything else. Thanks much and happy filings!0댓글을 남기려면 로그인하세요.
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