On May 24th, the SEC announced that the EDGAR system will be upgraded to Release 22.2 on June 21, 2022. 2020 versions of certain taxonomies will be removed, but all 2021 and 2022 versions of taxonomies will be available for use. The SEC reminds filers that they must use the same version year for all of the taxonomies in an EDGAR submission. Filers may not combine taxonomy versions from different years.
The 2020 versions of the following taxonomies will no longer be accepted in the EDGAR system:
US Generally Accepted Accounting Principles (GAAP)
International Financial Reporting Standards (IFRS)
SEC Reporting Taxonomy (SRT)
Document and Entity Information (DEI)
North American Industry Classification System (NAICS)
Standard Industrial Classification (SIC)
State and Province (STPR)
The EDGAR system will continue to accept all versions of the Variable Insurance Product (VIP) and Closed-End Fund (CEF) taxonomies.
Companies are strongly encouraged to use the most up-to-date version of taxonomy releases for their XBRL filings to benefit from the most current tags related to new accounting standards and other enhancements.