The SEC has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 73) to prepare issuers for potential updates to the EDGAR system scheduled to be introduced in EDGAR Release 25.1 on March 17, 2025. The SEC also issues this draft of the EDGAR Filer Manual seeking feedback from the filing community.
On March 17, 2025, EDGAR Release 25.1 will introduce the following changes to previous rulemaking:
- In January 2024, the SEC adopted new rules and form amendments applicable to IPOs by special purpose acquisition companies (SPACs) and in subsequent business combination transactions between SPACs and target companies. Beginning on June 30, 2025, registrants must tag disclosure required under the final rules using Inline XBRL, a structured, machine-readable data language. EDGAR will be updated to facilitate compliance with the tagging requirements. For further details, please see the Special Purpose Acquisition Companies, Shell Companies, and Projections final rule from January 2024.
Also, on March 17, 2025, the following updates will be implemented and will be effective March 24, 2025, pursuant to EDGAR Filer Access and Account Management (“EDGAR Next”, adopted in September 2024):
- EDGAR Filer Management dashboard is launched
- EDGAR access process for asset-backed security issuing entities is moved from the EDGAR Filing website to the dashboard
- Optional Application Programming Interfaces are available in EDGAR for filers that have enrolled in EDGAR Next
Guidance for filers regarding EDGAR Next and the upcoming changes are denoted in this EDGAR Filer Manual, Vol. II (Version 73) in brackets, along with the future effective date. Version 74 of the EDGAR Filer Manual, Vol. II will be posted to provide filers with a clean version of the manual on March 24, 2025.
Should the SEC approve the final version of the EDGAR Filer Manual, it will be made available on the SEC’s website on or by March 17, 2025. The posting of the draft EDGAR Filer Manual does not indicate SEC approval of any proposed changes relating to the EDGAR system as reflected in the draft. “Non-rule”-based updates to the draft Volume II of the EDGAR Filer Manual will go into effect on March 17, 2025. For rule-based changes, please refer to the effective dates of the related final rule on sec.gov.
The upcoming release of the GoFiler Suite will include support for the final changes. The software should automatically support the EDGAR Next transition on March 24th. Please contact support with any questions, and check back with our blog for updates.
Source:
EDGAR Release 24.4 (sec.gov)
