Inline XBRL is here

New rules

On June 28, 2018, the SEC issued Final Rule No. 33-101514 which requires the use of Inline XBRL (iXBRL).

What is iXBRL?

iXBRL is the next generation of XBRL tagging; it embeds the XBRL tags within the HTML document, resulting in the filing of a single financial report, rather than filing the XBRL data as a separate exhibit.

iXBRL timetable

Compliance is being phased in by filer category, and is required with the first Form 10-Q filed after the applicable date:

  • Large accelerated filers: fiscal periods ending after June 15, 2019
  • Accelerated filers: fiscal periods ending after June 15, 2020
  • All other filers: fiscal periods ending after June 15, 2021

In March 2019, the SEC also issued final amendments that require the use of iXBRL to tag the cover page of Form 8-K.

What does this mean for you?

  • Creating iXBRL files is a more complex process than creating legacy XBRL files
  • This complexity can be handled behind the scenes with sophisticated software
  • We strongly recommend that you do a test run of your iXBRL process now
    • Measure the turnaround time
    • Compare the final document to iXBRL filings on the SEC's EDGAR website
    • Don't forget to ask for an example of an 8-K cover page

Let us be your filer

  • We have been filing iXBRL documents since 2016
  • Our iXBRL process requires no additional time compared to traditional XBRL

Learn more

Let us know if you have further questions about iXBRL or any other aspect of your compliance strategy.

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