On August 2nd, the Financial Accounting Standards Board (FASB) released a proposed Taxonomy Implementation Guide, Employee Benefit Plans (Including Defined Contribution Plans Filing SEC Form 11-K), which is based on the 2024 GAAP Financial Reporting Taxonomy (GRT). The proposed Guide is designed to provide the framework for the reporting by employee benefit plans through illustrations and examples. Note that it focuses only on detail tagging (Level 4).
To improve the process for creating and using XBRL-structured financial statements, the SEC encourages filers, investors, analysts, software service providers to review the proposed Taxonomy Implementation Guide and submit comments via email to xbrled@fasb.org by September 24, 2024.
Source:
FASB Issues Proposed Taxonomy Implementation Guide for Employee Benefit Plans (sec.gov)
Employee Benefit Plans (Including Defined Contribution Plans Filing SEC Form 11-K) (fasb.org)
