Last week, the SEC announced that its moving towards stricter enforcement of Inline XBRL (iXBRL) data quality as the agency will suspend filings made on EDGAR – rather than merely issuing warnings – for fee-bearing forms (such as registration statements) that have XBRL errors in the filing fee exhibits. The SEC will begin suspending filings with XBRL errors in those exhibits on March 16th – although in some cases, only a warning will be given.
One tip to avoid this issue is to use the SEC’s “Fee Exhibit Preparation Tool” (FEPT) – available on EDGARLink Online – to test out your filing and receive any error warnings that can you alert you to the fact you need a fix before submitting live filings. And of course, test earlyto confirm that all tagging passes EDGAR validation before you’re ready to make a live filing.
Authored by
Broc Romanek