EDGAR Next: Modernizing the SEC’s Filing System for 2025

EDGAR Next: Modernizing the SEC’s Filing System for 2025

What every public company, Section 16 insider, and equity administrator needs to know.

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What is EDGAR Next and Why It Matters

EDGAR Next is the SEC’s newly modernized filing system, replacing the legacy EDGAR platform that’s been in use for decades. Its full rollout will be complete by September 15, 2025. The overhaul isn’t cosmetic—EDGAR Next fundamentally changes how filers access, manage, and submit disclosures to the SEC.

The primary changes include:

• Mandatory individual logins via Login.gov
  
  
• Role-based access control (no more shared credentials)
  
  
• A centralized dashboard for managing user access
  
  
• Enhanced security via multi-factor authentication (MFA)
  
  
• Optional APIs for filing automation
  
  
• Annual certification requirements for all filers
  
  

These changes apply to all EDGAR filers, including public companies, registered funds, law firms, and individual insiders subject to Section 16 reporting. If you touch SEC filings in any capacity—directly or through delegation—EDGAR Next affects you.

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Clarifying a Common Misunderstanding: EDGAR vs. IRS

While the phrase “IRS EDGAR system” is frequently searched, it’s a misnomer. EDGAR is the SEC’s electronic filing platform—not the IRS’s. EDGAR is where required securities filings are made, such as:

• Forms 10-K, 10-Q, and 8-K
  
  
• Registration statements (S-1, S-3)
  
  
• Section 16 forms (3, 4, 5)
  
  
• Form D and other investment-related filings
  
  

Anyone involved in equity compensation, public company reporting, or insider trading compliance will be directly impacted by the EDGAR Next transition.

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Why This Matters for Equity Professionals and Section 16 Insiders

EDGAR Next replaces shared credentials with individual accounts, which changes how equity administrators and legal teams manage insider reporting:

• Each Section 16 insider must have their own Login.gov-linked EDGAR account, or delegate access to a filing agent or corporate administrator.
  
  
• Equity administrators must coordinate enrollment for insiders and ensure their internal teams and third-party service providers have the correct roles and permissions.
  
  
• Legal and compliance teams will oversee account management through a central dashboard, with full visibility and control over who can access and file.
  
  

This transition introduces operational complexity, but also provides a clearer compliance trail, improved security, and better control over who is submitting filings on behalf of your organization.

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EDGAR Next vs. Legacy EDGAR: What’s Changed and Why It Matters

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Legacy EDGAR vs. EDGAR Next

EDGAR Next isn’t just a UI update—it introduces a fundamentally new structure for how filing access is granted, managed, and secured. Here's how it compares to the legacy system:

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Implications for Equity Administrators and Legal Teams

These changes are especially impactful for:

• Equity admins who support Section 16 filings: You’ll need to set up access for insiders, manage POAs, and ensure coverage.
  
  
• Companies using outside counsel or vendors for filings: Those agents must now be formally assigned access in the system.
  
  
• Filing software users: If your team uses third-party tools, ensure they support EDGAR Next’s API framework.

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How to Transition to EDGAR Next: A Step-by-Step Guide

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Step 1: Set Up Login.gov Accounts

Each individual who needs EDGAR access must create a personal Login.gov account with multi-factor authentication (MFA). This includes:

• In-house legal, finance, and equity admin staff
  
  
• Section 16 insiders (or their agents)
  
  
• Outside counsel and filing agents
  
  

Login.gov accounts are required to access EDGAR Next. Shared credentials are no longer allowed.

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Step 2: Identify Account Administrators

Each filer (company or individual insider) must have at least one, and ideally two, Account Administrators. Admins are responsible for:

• Completing the enrollment process
  
  
• Managing user access and permissions
  
  
• Certifying account info annually
  
  

These roles should be assigned ahead of enrollment to prevent delays or gaps in access.

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Step 3: Gather Legacy EDGAR Credentials

To enroll in EDGAR Next, you’ll need:

• Central Index Key (CIK)
  
  
• CIK Confirmation Code (CCC)
  
  
• Passphrase
  
  

These are required one last time to verify the filer’s identity and link the legacy account to EDGAR Next. If any of these are lost, reset them through the legacy EDGAR Filer Management portal.

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Step 4: Enroll in EDGAR Next (Starting March 24, 2025)

Once the enrollment window opens:

1. Visit the new EDGAR Next Filer Management site
   
   
2. Sign in with your Login.gov account
   
   
3. Enter your filer’s CIK, CCC, and passphrase
   
   
4. Assign yourself or another user as the initial Account Administrator
   
   

Enrollment is typically approved immediately. Only one enrollment should be submitted per filer.

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Step 5: Assign Roles and Add Users

After enrollment, Account Administrators can:

• Add additional Admins (SEC recommends at least two)
  
  
• Invite users to draft and file submissions
  
  
• Add Technical Admins for API integrations
  
  
• Revoke access for departed employees or vendors
  
  

All access is managed centrally through the EDGAR Next dashboard.

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Step 6: Coordinate with Section 16 Insiders

Each Section 16 insider with a personal CIK must either:

• Enroll their own EDGAR account using Login.gov
  or
  
  
• Designate a company representative or agent (e.g., legal counsel) to act on their behalf
  
  

Ensure each insider’s access is coordinated properly to avoid disruptions in Form 3, 4, or 5 filings.

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Step 7: Begin Filing via EDGAR Next

Filers may continue to use the legacy system until September 15, 2025, but are encouraged to begin using EDGAR Next as soon as possible. Submissions can be made:

• Through the updated EDGAR Next web interface
  
  
• Via new APIs (if using supported software platforms)
  
  

After September 15, 2025, legacy access credentials will no longer work.

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Step 8: Complete Annual Certification

All filers must annually confirm:

• Their account information is current
  
  
• All authorized users are correct
  
  
• Inactive users have been removed
  
  

Failure to complete this certification may result in loss of access.

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Key Dates and Transition Timeline for EDGAR Next

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March 24, 2025 – Enrollment Opens

• EDGAR Next’s Filer Management dashboard goes live
  
  
• Existing filers can begin the one-time enrollment process
  
  
• All new Form ID applications from this date forward will follow the new EDGAR Next process
  
  
• Filers can still use legacy EDGAR credentials to submit filings during this phase
  
  

March 24 – September 15, 2025 – Dual Access Transition Window

• Both EDGAR Next and legacy EDGAR systems will operate in parallel
  
  
• Existing filers can continue submitting via legacy portals
• Filers that enroll in EDGAR Next must submit filings using the new system
  
  

September 15, 2025 – Mandatory Compliance Date

• All EDGAR filers must be fully enrolled in EDGAR Next
  
  
• Legacy EDGAR credentials (CIK, password, CCC) will no longer grant access
  
  
• No filings will be accepted unless submitted through EDGAR Next
  
  

September 16 – December 19, 2025 – Grace Period for Late Enrollees

• Filers who miss the September 15 deadline can still enroll
  
  
• However, they will not be able to submit filings until enrollment is complete
  
  
• This period serves as a final chance to avoid full account deactivation
  
  

December 19, 2025 – Enrollment Period Closes

• EDGAR Next enrollment ends at 10:00 PM ET
  
  
• Filers who have not enrolled will lose all access
  
  
• Access to EDGAR Next will require submitting an amended Form ID.
  
  

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Why the SEC Is Overhauling EDGAR: Strategic Goals Behind EDGAR Next

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Cybersecurity and Data Integrity

One of the core drivers of EDGAR Next is to address long-standing security risks in the legacy EDGAR system. Shared credentials, lack of multi-factor authentication, and an inability to track who submitted filings left the system vulnerable.

With EDGAR Next, every action is tied to an authenticated individual via Login.gov, greatly reducing the risk of unauthorized access or fraudulent filings. These improvements align EDGAR with modern federal security standards.

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Improved Accountability and Access Control

Legacy EDGAR offered no visibility into who was accessing an account or filing documents. EDGAR Next introduces:

• Role-based permissions
  
  
• Named account administrators
  
  
• Full audit trails
  
  

This gives companies complete control over who has filing authority and allows them to revoke access instantly if needed.

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Filing Efficiency and Modernization

The SEC is modernizing how filings are prepared, submitted, and integrated:

• A new dashboard centralizes user and account management
  
  
• API access allows companies and vendors to automate filings and integrate with internal systems
  
  
• Web interface improvements streamline manual filings
  
  

The SEC also plans to improve the structure and accessibility of submitted data, making it easier to analyze disclosures at scale.

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Scalability and Future-Readiness

EDGAR Next lays the foundation for further modernization in how market data is disclosed, consumed, and analyzed. It enables:

• Easier onboarding of new filers
  
  
• Expansion into structured data formats
  
  
• Future regulatory enhancements to filing processes
  
  

The system is designed to scale with growing disclosure volumes and increasing complexity in global markets.

Why the SEC Is Overhauling EDGAR: Strategic Goals Behind EDGAR Next

‍

Cybersecurity and Data Integrity

One of the core drivers of EDGAR Next is to address long-standing security risks in the legacy EDGAR system. Shared credentials, lack of multi-factor authentication, and an inability to track who submitted filings left the system vulnerable.

With EDGAR Next, every action is tied to an authenticated individual via Login.gov, greatly reducing the risk of unauthorized access or fraudulent filings. These improvements align EDGAR with modern federal security standards.

‍

Improved Accountability and Access Control

Legacy EDGAR offered no visibility into who was accessing an account or filing documents. EDGAR Next introduces:

• Role-based permissions
  
  
• Named account administrators
  
  
• Full audit trails
  
  

This gives companies complete control over who has filing authority and allows them to revoke access instantly if needed.

‍

Filing Efficiency and Modernization

The SEC is modernizing how filings are prepared, submitted, and integrated:

• A new dashboard centralizes user and account management
  
  
• API access allows companies and vendors to automate filings and integrate with internal systems
  
  
• Web interface improvements streamline manual filings
  
  

The SEC also plans to improve the structure and accessibility of submitted data, making it easier to analyze disclosures at scale.

‍

Scalability and Future-Readiness

EDGAR Next lays the foundation for further modernization in how market data is disclosed, consumed, and analyzed. It enables:

• Easier onboarding of new filers
  
  
• Expansion into structured data formats
  
  
• Future regulatory enhancements to filing processes
  
  

The system is designed to scale with growing disclosure volumes and increasing complexity in global markets.

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Industry Reactions and Expert Commentary

Law firms, compliance advisors, and industry groups have called EDGAR Next the most significant change to SEC filing infrastructure in decades. Key themes from their guidance:

• Start early: Waiting until late summer 2025 risks account lockouts or missed filings.
  
  
• Coordinate with insiders: Section 16 officers and directors often don’t manage their own filings—ensure they are enrolled or have delegated access.
  
  
• Plan for outside counsel: Law firms must now be formally authorized to file, which may require new workflows.
  
  

The NASPP and Society for Corporate Governance have both emphasized the need for close collaboration between legal teams, equity administrators, and filing agents.

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Best Practices for a Smooth Transition

• Assign at least two Account Administrators per filer to avoid access issues if someone leaves or becomes unavailable.
  
  
• Test the EDGAR Next beta environment early to become familiar with the interface and role assignments.
  
  
• Document internal processes for who enrolls filers, manages access, and certifies accounts annually.
  
  
• Update insider onboarding/offboarding procedures to include EDGAR access setup and removal.
  
  
• Review vendor relationships and confirm they are prepared to operate under the new system using Login.gov credentials or APIs.
  
  

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Final Takeaways

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EDGAR Next will provide:

• Stronger security
  
  
• Greater accountability
  
  
• More modern filing options
  
  
• Better oversight of who’s filing and on whose behalf
  
  

But it also introduces new administrative burdens and risks if ignored. Every public company, insider, fund, and service provider that interacts with the SEC’s disclosure process must take action.

With enrollment opening in March 2025 and full compliance required by September 15, 2025, the time to prepare is now. Build your plan, coordinate with stakeholders, and lead your organization through a smooth, compliant transition to EDGAR Next.