SEC accepts FASB’s 2026 taxonomies
The Financial Accounting Standards Board (FASB) has confirmed that the US Securities and Exchange Commission (SEC) has accepted the full suite of FASB Taxonomies for 2026.
The package includes the 2026 GAAP Financial Reporting Taxonomy (GRT), which encompasses the Employee Benefit Plan Taxonomy (EBPT), the 2026 SEC Reporting Taxonomy (SRT), the newly finalised Data Quality Committee Rules Taxonomy (DQCRT), and the GAAP Meta Model Relationships Taxonomy (MMT).
The 2026 GRT has been updated to reflect accounting standards issued throughout 2025, along with a number of targeted technical improvements. The SRT, meanwhile, continues to serve its core purpose: capturing reporting elements that are widely used in practice but fall outside the formal definitions of US Generally Accepted Accounting Principles (GAAP). This helps ensure consistent tagging of SEC-specific disclosures, a quiet but important contributor to filing quality.
The DQCRT and MMT are valuable additions that strengthen the broader reporting ecosystem. The DQCRT brings a structured set of validation rules developed by the XBRL US Data Quality Committee, designed primarily to help regulators identify and address filing quality issues. The MMT takes a different angle, introducing richer relationships between taxonomy elements. This makes it easier for preparers to select the right tags, and for data consumers and rule-builders to work more effectively with disclosures.
FASB will host a webinar on 14 April 2026 covering the taxonomy updates, an SEC staff perspective on structured data, and a discussion of how artificial intelligence and data quality are shaping the future of financial filings. Worth attending if these developments touch your work.
See all the updated taxonomies here.
