On April 3rd, 2025 FERC announced the release of the 2025 taxonomies and as a result the 2025 annual taxonomy update is now available in the Workiva Platform and has been enabled on all FERC-related Workspaces. The new 2025 taxonomies are required for the following FERC Form Filings submitted after March 28, 2025:

   - 2024 Calendar Year FERC Form No. 714
   - 2025 Quarterly FERC Form Nos. 3-Q and 6-Q; and
   - 2025 Calendar Year FERC Form Nos. 1, 1F, 2, 2-A, 6 and 60

In other words, all form types with a 2025 year end will be required to be migrated to the 2025 taxonomy version related to the specific Form, in order to be successfully received by FERC. The only exception to this is for Form 714, which will use the 2025 taxonomy version for the 2024 year end filing.

FERC previously proposed all 2024 year end Form 60’s would be required to use a 2025 taxonomy version. That has since changed with the final release, and as a result all Form 60 filers can file to FERC immediately using the 2024 taxonomy version.

Below is a list of major updates included by FERC in the 2025 taxonomy files:

   - Improved performance and optimization of FERC e-form processing with quicker viewer and validation processing.
   - Incorporated Order No. 898 changes to the taxonomies, validations and e-form Viewer/Rendering code.

Workiva Implementation Updates Required for all Form 1/3Q Filers:

Please note that due to the changes related to Order 898 incorporations, Form 1/3Q filers and 2025 year end Form 1 and 1F templates will need to be modified in order for you to create valid XBRL data using the 2025 taxonomy. As a result, Workiva Customer Success teams are actively outreaching to all Form 1/3Q filers to roll forward and identify the latest Spreadsheet Template in order to add the additional schedule lines and data points to the various schedules impacted by these FERC updates. Workiva is committed to providing those updates as soon as possible. These updates will require no additional support or time from you, and you may continue to work within your Workspace or Form while these updates occur. 

Workiva XBRL Service Considerations:

Should you have an XBRL service engagement with Workiva, your Professional Services Manager will assist in migrating your FERC Forms to the latest 2025 versions. Should you want to migrate yourself, please refer to the following Help article for additional support on performing this migration.

As a reminder, in order to successfully file to FERC, the updated 2025 Taxonomy is required for ALL 2025 Quarterly Filings, as well as the 2024 Annual Filing for Form 714. Any resubmissions must continue to use the original Taxonomy from the original filed form, as outlined by the FERC Taxonomy History page.

We are excited to release the latest taxonomy updates from FERC and are committed to the success of your FERC filings. Please do not hesitate to contact Workiva Customer Support, your Professional Services Manager, or post questions/comments here in the Community should you have any additional questions or concerns around this new taxonomy update.