In September 2024, the US Securities and Exchange Commission (SEC) adopted rule changes to its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) file access and account management system (EDGAR Next), which went into effect on March 24. EDGAR Next is designed to improve the security and manageability of electronic filings.

All filers should enroll in EDGAR Next by September 12. Beginning on September 15, only filers who have successfully enrolled in EDGAR Next will be able to file with the SEC. Between September 15 and December 19, existing filers will not be able to file with the SEC unless and until they have enrolled in EDGAR Next. Any filer that does not enroll by December 19 must submit a new Form ID to regain access to its account.

To help organizations and individuals prepare for these changes, it is important to understand the new requirements and the actions needed to maintain uninterrupted access to the SEC’s electronic filing system. The transition to EDGAR Next introduces several key steps and deadlines for enrollment that all filers must follow to ensure compliance and avoid disruptions in their filing capabilities.

Key Steps and Deadlines for Enrollment

1. Create Login Credentials: EDGAR Next requires individual login.gov accounts and multifactor authentication for anyone who manages or submits filings on your behalf.
2. Gather Existing EDGAR Codes: You will need current EDGAR access codes — Central Index Key (CIK), CIK Confirmation Code (CCC), and passphrase — to enroll. Make sure these codes are accurate and have not expired.
3. Designate Account Administrators: Each filer must identify one or more authorized “Account Administrators” (at least two for most filers, though single-member entities and individual filers may require only one). Account Administrators are charged with overseeing the filer’s EDGAR Next account, reviewing and updating account information, and confirming annually that only authorized individuals and entities have access.
4. Delegate Filing Authority: Each Account Administrator may also designate others as Delegated Users who are only authorized to submit filings.
5. Confirm Your Enrollment by September 12.
6. Final Deadline: After December 19, the legacy EDGAR system will be permanently decommissioned for enrollment.

Consequences of Not Enrolling

• You will be unable to submit filings with the SEC, effectively halting all required reporting.
• Missed filing deadlines could subject you to regulatory implications and potential penalties.
• Reestablishing access to your EDGAR account will require a new Form ID, along with requisite documentation and potential delays.

You may want to take the necessary steps now to ensure a smooth transition.