Published :        Last Updated :         Reading Time: 3 mins

Understanding and Preparing for EDGAR NEXT

 

The U.S. Securities and Exchange Commission (SEC) is introducing EDGAR NEXT—a significant modernization of the EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system. For companies that file with the SEC, this transition means major revisions in login protocols, account management, and filing security which are considered as one of the largest shifts in recent decades. EDGAR NEXT is targeted at making the filing process much safer and more efficient because it will address security concerns and enhance transparency.

 

What is EDGAR NEXT?

EDGAR NEXT is a set of updates to improve the efficiency, security, and transparency of SEC filings. With this change, companies and filing agents will no longer share a single login for filing purposes. Rather, each user will require an EDGAR NEXT user token and their own unique login credentials. Apart from upgrading the security level, such a change develops accountability in each user for their activities within the EDGAR system.

 

Key Dates You Need to Know

To help with the transition, the SEC has set up key dates for filers to prepare and adjust. Here’s what you need to remember:

  1. Beta Testing: Since September 2024, SEC filing agents and individual filers have been able to test the new EDGAR Filer Management website, dashboard, and optional APIs. The feedback from this testing phase will help the SEC make any needed adjustments before the full launch.
  2. Enrollment Begins: Starting on March 24, 2025, SEC filers can officially enroll in EDGAR NEXT on the new SEC Filer Management website. During enrollment, companies will authorize account managers and set up individual logins via login.gov, which includes multifactor authentication for extra security.
  3. Transition Phase: From March 24 to September 15, 2025, filers have the option of using the conventional system or EDGAR NEXT. This gives companies time to adjust and train their teams.
  4. Mandatory Compliance: By September 15, 2025, all filers must fully transition to EDGAR NEXT. The old filing process will be discontinued, and compliance with EDGAR NEXT login requirements will become mandatory.
  5. Final Enrollment Deadline: Filers who haven’t completed enrollment by December 22, 2025, will need to submit a new Form ID to re-register with EDGAR before they can file.

 

How to Prepare for EDGAR NEXT

With these upcoming changes, here’s a checklist to ensure you’re ready:

  1. Update Contact Information: Log into your existing EDGAR account and check that all contact details for your Central Index Key (CIK) numbers are correct. Having up-to-date contact information will ensure you don’t miss important notifications from the SEC.
  2. Get Login Credentials for Your Team: Identify the people within your organization who will need to file with the SEC and help them create individual login.gov accounts. This step is crucial because each filer will require login information and multifactor authentication to access EDGAR NEXT.
  3. Appoint EDGAR Account Administrators: Establish a minimum of two administrators in charge of managing the account permissions within EDGAR NEXT. By shutting off the system to limited access, the administrators will be able to manage and track it easily.
  4. Enroll Early: Even though the official compliance date is September 15, 2025, it is highly recommended that one should enroll as soon as the window opens on March 24, 2025, to sort out any problems and get familiar with the new system.
  5. Use SEC Resources and Vendor Support: The SEC’s new EDGAR Filer Management website and dashboard will provide valuable tools for managing accounts and tracking filing histories. Many SEC-approved filing vendors also offer resources and guides to help you navigate these changes.

 

Moving Forward with EDGAR NEXT

Although switching to EDGAR NEXT could feel like a major adjustment, there are many security and transparency advantages. If you prepare in advance, remember the key dates, and utilize the resources at your disposal, this shift will be smooth. You should start by reading through the steps mentioned above and considering any internal processes that you will want to change to include the EDGAR NEXT standards.

DataTracks can guide you through this EDGAR NEXT transition. Given the depth of our experience in SEC reporting standards, we are well equipped to offer professional support on matters relating to EDGAR NEXT compliance setup involving account setup and onboarding. Let DataTracks make your EDGAR NEXT journey easier while you focus on your business.