What is Inline XBRL (iXBRL)?
Inline eXtensible Business Reporting Language (iXBRL) is a format that allows filers to embed XBRL data directly into a HyperText Markup Language (HTML) document so that filers need only prepare one iXBRL document rather than generate an HTML document of their risk/return summary information and then tag a copy of the data to create a separate XBRL exhibit. For data users, Inline XBRL provides an easier way to view, access, and explore the contextual information of the underlying data. For Fund-filers, it also eliminates a separate filing, but also the previous 15-day window between update and XBRL filings.
Strategies to Prepare
To prepare for the mandate, we recommend you take the following steps:
- If using one, determine if your current automated publishing platform is iXBRL-enabled.
- If utilizing a self-filing tool, determine if that software will be updated to include the iXBRL taxonomy.
- If utilizing hybrid or full-service provider(s), determine if they will be ready for the deadline(s).
- Consider an end-to-end service provider to meet your needs from composition and typesetting to HTML conversion, iXBRL tagging, and filing to webhosting, printing, and distribution – managing one vendor streamlines your business processes and saves you money!
- Build extra time into your process for review and sign-off.
- Discuss with your provider minimization of last-minute material changes and how to handle other final edits without compromising the new deadlines.
- Where possible, implement auto-tagging of content.
- Become familiar with the Arelle open-source iXBRL platform supplied by the SEC.
- Investigate having a secondary supplier in case you need extra help with the compliance deadline(s) and/or transitional services.
Broadridge is ready to handle your risk/return iXBRL needs, whether you are used to self-filing, traditional typesetting/filing with a service, or are currently using an automated platform.
Please reach out to Cassandra.Miller@broadridge.com today to start a conversation.