XBRL (eXtensible Business Reporting Language) and its variant, Inline XBRL (iXBRL), are global standards for tagging financial and business data that allows machine-readable reporting. This FinTags exclusive report will provide you a detailed analysis of accounts requiring XBRL or iXBRL tagging worldwide, including account types, tagging specifications, filing institutions, and timelines. It covers major regions and regulators, ensuring a comprehensive overview for finance professionals, companies, CFOs, and accounting firms.
| Region | Regulator | Account Type | Tagging Required | Filing Institution | Timeline/Season |
| North America | Securities and Exchange Commission (SEC) | Financial statements (10-K, 10-Q, 8-K, etc.) | iXBRL (US GAAP taxonomy) | SEC (EDGAR system) | Quarterly (Apr, Jul, Oct, Jan; within 40-60 days after quarter-end) and annually (Feb-Mar; within 60-90 days after year-end) |
| Fund risk/return summary information | iXBRL (US Mutual Fund Risk/Return taxonomy) | SEC (EDGAR system) | Annually or semi-annually (Mar or Sep, varies by fund) | ||
| Canadian Securities Administrators (CSA) | Financial statements (voluntary) | XBRL (optional, IFRS or Canadian GAAP) | CSA (SEDAR system) | No mandatory timeline; voluntary submissions | |
| Europe | European Securities and Markets Authority (ESMA) | Consolidated financial statements (IFRS-listed companies) | iXBRL (ESEF/IFRS taxonomy) | National regulators (e.g., FCA in UK, AMF in France) | Annually (Apr-Jun, within 4-6 months of fiscal year-end) |
| HM Revenue and Customs (HMRC) | Company Tax Returns (CT600) | iXBRL (UK GAAP or IFRS taxonomy) | HMRC | Annually (Dec or Mar, within 12 months of accounting period end) | |
| Companies House (UK) | Financial statements | iXBRL (UK GAAP or IFRS taxonomy, optional) | Companies House | Annually (Sep-Dec, within 9 months for private, 6 months for public companies) | |
| European Banking Authority (EBA) | Banking regulatory reports (e.g., COREP, FINREP) | XBRL (EBA taxonomy) | National competent authorities | Quarterly (Mar, Jun, Sep, Dec) and annually (Mar) | |
| European Insurance and Occupational Pensions Authority (EIOPA) | Insurance regulatory reports (e.g., Solvency II) | XBRL (EIOPA taxonomy) | National supervisory authorities | Quarterly (Mar, Jun, Sep, Dec) and annually (May) | |
| Asia | Financial Services Agency (FSA) - Japan | Annual securities reports (Yukashoken Hokokusho) | XBRL (Japanese taxonomy) | FSA (via Tokyo Stock Exchange) | Annually (Jun, for Mar fiscal year-end) |
| Accounting and Corporate Regulatory Authority (ACRA) - Singapore | Financial statements (full or simplified) | XBRL (Singapore Financial Reporting Standards) | ACRA | Annually (Jul-Nov, within 7 months for private, 5 months for public companies) | |
| Ministry of Corporate Affairs (MCA) - India | Financial statements (Form AOC-4 XBRL) | XBRL (Indian Accounting Standards) | MCA (Registrar of Companies) | Annually (Sep-Oct, within 30 days of AGM, typically by Oct 30 for Mar 31 year-end) | |
| China Securities Regulatory Commission (CSRC) | Annual reports | XBRL (Chinese taxonomy) | Stock exchanges (e.g., Shanghai, Shenzhen) | Annually (Apr, by Apr 30 for Dec 31 year-end) | |
| South America | Superintendencia del Mercado de Valores (SMV) - Peru | Financial statements (listed companies) | XBRL (Peruvian taxonomy) | SMV | Annually (Mar-Apr,within 3-4 months of fiscal year-end) |
| Brazilian National Treasury | Financial data (SICONFI project) | XBRL (SICONFI taxonomy) | Brazilian National Treasury | Varies by entity; typically annually (Apr-Jun) | |
| Middle East | Kuwaiti Capital Markets Authority (CMA) | Financial statements (listed companies) | XBRL (Kuwaiti taxonomy) | CMA | Annually (Mar-Apr, within 3-4 months of fiscal year-end) |
| Africa | Companies and Intellectual Property Commission (CIPC) - South Africa | Financial statements (qualifying entities) | iXBRL (IFRS or SA GAAP taxonomy) | CIPC | Annually (Jun-Sep, within 6 months of fiscal year-end) |
| Global | OECD (via national tax authorities) | Country-by-Country Reporting (CbCR) | iXBRL (OECD BEPS taxonomy) | National tax authorities | Annually (Dec, within 12 months of fiscal year-end, starting Jan 2025) |
United States (SEC): The SEC mandates iXBRL for public companies’ financial statements (e.g., Form 10-K for annual reports, 10-Q for quarterly reports, 8-K for specific events) and mutual funds’ risk/return summaries. The US GAAP taxonomy is used for operating companies, while a specific taxonomy applies to funds. Deadlines vary by company size: large accelerated filers (60 days for 10-K, 40 days for 10-Q), accelerated filers (75 days for 10-K, 40 days for 10-Q), and non-accelerated filers (90 days for 10-K, 45 days for 10-Q). Foreign private issuers using IFRS must also comply, with iXBRL required since 2017 (SEC Inline XBRL).
Canada (CSA): XBRL is voluntary for financial statements filed via the SEDAR system, using IFRS or Canadian GAAP taxonomies. Canadian companies cross-listed on U.S. exchanges must follow SEC iXBRL requirements. No mandatory timeline exists for domestic filings (CSA XBRL Filing).
ESMA:Under the European Single Electronic Format (ESEF), listed companies must tag IFRS consolidated financial statements in iXBRL, using the ESEF taxonomy. Filings are submitted to national regulators (e.g., Financial Conduct Authority in the UK) within 4-6 months of the fiscal year-end, typically April-June for December year-ends (ESMA Electronic Reporting).
HMRC (UK): Since 2011, companies must file Company Tax Returns (CT600), including financial accounts and computations, in iXBRL using UK GAAP or IFRS taxonomies. The deadline is 12 months after the accounting period, often December or March (GOV.UK XBRL Guide).
Companies House (UK):iXBRL is optional for financial statements but widely used, with deadlines of 9 months for private companies and 6 months for public companies, typically September-December (GOV.UK XBRL Guide).
EBA:Banks file regulatory reports like COREP (capital requirements) and FINREP (financial reporting) in XBRL, submitted quarterly and annually to national authorities (XBRL.org).
EIOPA:Insurers file Solvency II reports in XBRL, with quarterly and annual submissions to national supervisory authorities (XBRL.org).
Japan (FSA):Listed companies file annual securities reports (Yukashoken Hokokusho) in XBRL, using the Japanese taxonomy, through stock exchanges like the Tokyo Stock Exchange. The deadline is June 30 for March 31 year-ends (Japan Exchange Group).
Singapore (ACRA): Companies file financial statements in XBRL, using templates like Full XBRL or Simplified XBRL, within 7 months (private) or 5 months (public) after the fiscal year-end, typically July-November (ACRA XBRL Filing).
India (MCA): Specified companies (listed, or with turnover ≥ Rs 100 crore or paid-up capital ≥ Rs 5 crore) file financial statements in Form AOC-4 XBRL, due within 30 days of the AGM (by October 30 for March 31 year-ends) (MCA XBRL).
China (CSRC): Listed companies file annual reports in XBRL through stock exchanges like Shanghai or Shenzhen, due by April 30 for December 31 year-ends (Journal of Accountancy).
Peru (SMV):Listed companies file financial statements in XBRL, typically within 3-4 months of the fiscal year-end, around March-April
Brazil (National Treasury):The SICONFI project requires XBRL for financial data from government entities, with varying annual deadlines, often April-June
Kuwait (CMA):Listed companies file financial statements in XBRL, due within 3-4 months of the fiscal year-end, typically March-April (XBRL.org Kuwait).
South Africa (CIPC):Qualifying entities file financial statements in iXBRL, using IFRS or SA GAAP taxonomies, within 6 months of the fiscal year-end, typically June-September.
OECD (CbCR):Multinational enterprises with revenues exceeding €750 million file Country-by-Country Reports in iXBRL, due within 12 months of the fiscal year-end, starting January 2025
The global adoption of XBRL and iXBRL reflects a shift toward standardized, machine-readable financial reporting. Regulators across North America, Europe, Asia, South America, the Middle East, and Africa mandate these formats for various accounts, with filing seasons concentrated around April-June and September-December.
FinTags, as one of the global leaders in XBRL services and AI XBRL product, we assist companies and accounting firms to convert financial statements in Excel/Word/PDF format to XBRL for filing with the regulator in almost all markets mentioned in the report. Majorly, our XBRL tagging services covers XBRL filing with HMRC(UK), Revenue(Ireland), ESEF(EU), CIPC (S.Africa), ACRA(Singapore), SSM(Malaysia), MCA (India) and rest of the world where XBRL is required.
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Disclaimer: The views, information, or opinions expressed in this article are solely those of the author and do not necessarily represent those of FinTags and its employees. The purpose of this article is primarily to educate and inform, not to provide specific professional advice. FinTags assumes no responsibility for errors or omissions in the contents. If you have any queries or feedback about this article please email us at creative@fintags.co.uk
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