2025 XBRL Taxonomies Update

On March 17, 2025, the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was upgraded to Release 25.1 and now supports the 2025 taxonomies listed below. Each 2025 taxonomy will be compatible only with other 2025 taxonomies.

With this release, the newly added Special Purpose Acquisition Company (SPAC) taxonomy includes the elements needed for tagging the enhanced disclosure requirements for SPAC initial public offering and de-SPAC transactions as part of the final rules on Special Purpose Acquisition Companies, Shell Companies, and Projections. Also, compared to the 2024q3 version of the Open-End Fund (OEF) taxonomy released on September 16, 2024, as part of Release 24.3, the 2025 version of the OEF taxonomy adds a Coregistrant axis so that a single filing may be submitted with more than one trust identified by different Central Index Key numbers. The 2025 version of the OEF taxonomy additionally permits the use of Share Class axis in the Performance Management and Fees and Expenses definition link roles and the dimensional use of the Supplement to Prospectus text block element. The 2025 version of the Self-Regulatory Organizations (SRO) taxonomy moves certain definition links from the core schema to the related entry point schema. The 2025 version of the Variable Insurance Product (VIP) taxonomy remains the same as the 2024q4 version of the VIP taxonomy released on December 16, 2024, as part of Release 24.4.

The 2025 U.S. GAAP Financial Reporting taxonomy and the 2025 SEC Reporting Taxonomy reflect the same taxonomy versions that the Financial Accounting Standards Board made available on its website on December 16, 2024.

The other 2025 taxonomies listed below are the final versions of the draft taxonomies posted by Commission staff for technical feedback on November 18, 2024. Refer to the final 2025 taxonomies’ Release Notes for details of the changes.

1. Closed-End Fund (CEF)
2. Countries (COUNTRY)
3. Currencies (CURRENCY)
4. Cybersecurity Disclosure (CYD)
5. Document and Entity Information (DEI)
6. Executive Compensation Disclosure (ECD)
7. Exchanges (EXCH)
8. Filing Fee Disclosure (FFD)
9. Fund (FND)
10. North American Industry Classification System (NAICS)
11. Resource Extraction Payments (RXP)
12. Security-Based Swap (SBS)
13. Standard Industrial Classification (SIC)
14. Sub-National Jurisdiction (SNJ)
15. State and Province (STPR)

The staff does not anticipate the removal of the 2023 versions of any taxonomies to occur before June 2025.

Please see standard taxonomies for a complete listing of supported standard taxonomies.

Although EDGAR will accept either the 2025 or 2024 taxonomy versions, the staff strongly encourages companies to use the most recent version of taxonomy releases for their eXtensible Business Reporting Language filings to take advantage of the most up-to-date tags related to new accounting standards and other improvements. Filers should consider transitioning to the 2025 taxonomies for the earliest reporting period that ends on or after March 17, 2025, but not for reporting periods that end before March 17, 2025. As noted above, prior versions of taxonomies other than the International Financial Reporting Standards taxonomy are not compatible with the 2025 taxonomies.