What is EDGAR Next！
The Securities and Exchange Commission (SEC) adopted a series of rules and form amendments on Sept. 27, 2024, concerning access to and management of accounts on its Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The amendments – designed to enhance the security of EDGAR, improve the ability of filers to manage their EDGAR accounts, and modernize connections to the new platform EDGAR Next.
Key Changes
The EDGAR Next transition introduces several key changes, impacting how filers access and submit filings. The most important updates include:
- Elimination of Legacy CIK/Password Authentication The SEC is discontinuing the use of CIK, password, and passphrase-based authentication for EDGAR filings. All users must switch to Login.gov for multi-factor authentication (MFA).
- New Login.gov Requirements Individuals who will enroll filers, act as account administrators, or submit filings will need to create a Login.gov account and set up multi-factor authentication (MFA). A work or business email address is recommended since email addresses will be visible to other users. Those who already have a Login.gov account can either connect to EDGAR using their existing account or create a new account with a different email address.
- Delegated Entity for Filing Agents M2 is currently your Filing Agent, and with the forthcoming changes, M2 will continue in this role but will be referred to as a Delegated Entity under EDGAR Next. To maintain our ability to file for you, we must be approved as your Delegated Entity under EDGAR Next. This change concerns access to filer codes and authorization to file on your behalf; the production of filings remains unaffected. We will no longer be able to log in directly using your CIK and CCC as we do currently. Once enrolled, you can easily delegate by providing M2's CIK information (which we will supply), we will receive the invitation, accept it, and continue business as usual.
- Administrator & User Roles Each company will need to designate two account administrators to manage EDGAR access and delegation. Additional users and filing agents will receive role-based access control.
- Annual Account Renewal Requirement Every 12 months, filers must renew their Login.gov EDGAR account to maintain access. This prevents account expirations and unauthorized access over time.
Key Dates:
March 24, 2025
- Enrollment Opens: Filers can begin enrolling in EDGAR Next.
- Dashboard Goes Live: The new EDGAR Filer Management dashboard becomes accessible.
- Amended Form ID: Filers whose amended Form ID applications are granted by the SEC will automatically be subject to EDGAR Next.
September 15, 2025
- Compliance Deadline: Filers must comply with EDGAR Next to continue filing on EDGAR.
September 12, 2025 - December 19, 2025
- Enrollment Period: Filers can continue to enroll in EDGAR Next. After this date, filers who have not enrolled will not be able to file until they do so.
- Hybrid Model Ends: The SEC will stop maintaining both the current EDGAR platform and EDGAR Next simultaneously.
December 19, 2025
- Enrollment Ends: Enrollment for existing filers ends at 10 p.m. Filers who have not enrolled by this date will not be able to file or access their accounts unless they submit a new Form ID
Login.gov
Individuals who will enroll filers, act as account administrators, or submit filings will need to create a Login.gov account and set up multi-factor authentication (MFA). A work or business email address is recommended since email addresses will be visible to other users. Those who already have a Login.gov account can either connect to EDGAR using their existing account or create a new account with a different email address.
Enrollment
Filers can begin enrolling on the new filer management website once it goes live on March 24, 2025. Filers can enroll themselves or designate another entity such as a filing agent (i.e. M2 Compliance) to assist with enrollment.
A filer’s CCC code and passphrase (different from password) are required to enroll the filer. Filers are recommended to check in advance with their filing agent for availability of access codes or options to reset them.
Filers must designate two account administrators during enrollment – individuals and single-member companies are only required to designate one account administrator but can designate two. Filers must also select a preferred calendar quarter during which an account administrator will confirm the filer’s information, contact information, and authorized users and delegated entities.
Enrollment closes on December 19, 2025, but filers are encouraged to enroll early and well before the compliance date of September 15, 2025.
Filing Delegation
Once the filer is enrolled, an account administrator can add additional account administrators and users to the account. Both account administrators and users can submit filings on behalf of the filer. Account administrators can delegate filing authority to filing agents, and filing agents can also request filing delegation from filers. Delegated entities will have their own EDGAR accounts and can authorize their own users to submit filings on behalf of the filer as delegated users.
The CCC filing credential will be reset upon successful enrollment so filing authority should be delegated to filing agents immediately after to avoid filing submission delays. The CCC will be visible to authorized users and delegated entities on the filer management website. Account administrators can change the CCC to either a randomly generated or custom code.
Amended Form ID
Starting March 24, 2025, new filers must submit the amended Form ID to apply for an EDGAR account. Applicants are required to designate two individuals as prospective account administrators – however, individuals and single-member companies are only required to designate one account administrator but can designate two. If the designated account administrator is not an employee or affiliate of the filer, a notarized power of attorney will be required. Similar to the current Form ID application, a notarized signature will still be required.
During the enrollment period, filers that gain access to EDGAR by completing the amended Form ID will automatically be enrolled in EDGAR Next. Existing filers that are not enrolled by December 19, 2025 or filers that lose access to their account will need to complete the amended Form ID to regain access and submit filings.
EDGAR Next Frequently Asked Questions
EDGAR Key Terms
1. What is EDGAR?
EDGAR is the electronic system through which filings are submitted to the U.S. Securities and Exchange Commission. The EDGAR system is comprised of three websites:
2. What is CIK and CCC?
When filers such as companies and individuals establish their EDGAR account, they are assigned a unique identification number by the SEC called a CIK. An entity’s CIK number does not change.
Each CIK is associated with its own EDGAR account and has a corresponding CCC code used to verify access to the account. The CCC code can be changed.
Other EDGAR account credentials include a password, passphrase, and PMAC – these legacy access codes will be phased out with EDGAR Next compliance.
3. What is a filer and filing agent?
A filer is an entity such as a company or individual that submits filings to the SEC through the EDGAR system. Each filer has its own CIK number and EDGAR account.
A filing agent is a third-party service provider authorized by a filer to submit filings on its behalf (i.e. M2 Compliance). Filing agents have their own CIK number and EDGAR account.
EDGAR Next General Information
4. What is EDGAR Next?
EDGAR Next is an initiative by the SEC to modernize EDGAR and enhance the security of EDGAR by improving filer account access and management and filing authorization.
The EDGAR system will introduce a new EDGAR Filer Management website requiring Login.gov individual account credentials and multi-factor authentication (MFA) for access. Filers must designate account administrators to manage accounts and authorize users or entities for filings. Other key changes include role-based user access to the filer dashboard and actions, annual confirmation of filer information and authorized users, amended Form ID, and discontinuation of EDGAR access codes (passphrases, passwords, and PMAC).
5. Who is impacted by EDGAR Next?
EDGAR Next impacts all filers that actively submit filings to the SEC via EDGAR, including domestic public companies, mutual funds, insiders, foreign private issuers, large traders, and other entities required to submit filings under U.S. securities laws. Filing agents are also subject to EDGAR Next requirements.
6. When will EDGAR Next be implemented?
The transition to EDGAR Next will occur in 2025.
Key dates are as follows:
- March 24, 2025: New EDGAR Filer Management website goes live. Filers can begin enrolling in EDGAR Next. The amended Form ID is required for new filers.
- September 15, 2025: All filers are required to comply with EDGAR Next. Filers can continue to enroll but will not be able to submit filings to EDGAR until they are enrolled. Legacy filing process will no longer be available.
- December 19, 2025: EDGAR Next enrollment closes. Filers not enrolled will need to submit the amended Form ID to regain access to their account.
7. Where and when can I access EDGAR Next? What is different about the new EDGAR filer management website?
The new EDGAR Filer Management website, where filers can enroll and manage their account, is not available yet but goes live on March 24, 2025. The website will be available during EDGAR operations hours, Monday thru Friday 6AM-10PM ET, excluding holidays.
Upon signing in to the new EDGAR Filer Management website with their Login.gov account credentials, individuals will first access a dashboard with individual-specific functions available such as amended Form ID and enrollment. The individual can then select an associated EDGAR account to access the filer dashboard.
Individual Login.gov Account Credentials
8. What are individual account credentials and who needs them?
EDGAR Next requires the use of individual account credentials and multi-factor authentication (MFA) to access EDGAR. Any person completing amended Form ID, enrolling filers, acting as account administrators, and submitting filings will need to obtain Login.gov individual account credentials which includes an email username, a password, and multi-factor authentication (MFA) setup.
9. What is multi-factor authentication (MFA)?
A security measure that requires users to provide two or more methods of identity verification, such as a password and a one-time code sent via text or phone call.
10. What is Login.gov?
The SEC has selected the third-party service Login.gov as an identity authentication provider. Users will be redirected from the new EDGAR Filer Management website to Login.gov, where they will sign in with their individual account credentials and complete multi-factor authentication (MFA). Afterwards, users will be redirected back and gain access to the EDGAR Filer Management website.
11. When and where do I obtain Login.gov account credentials?
Login.gov individual account credentials can be obtained now, ahead of the EDGAR Next launch on March 24, 2025.
Although the new EDGAR filer management website will not be available until March 24, 2025, individuals can go directly to www.login.gov to create an account or can access the beta testing platform at https://filermanagement-bravo.edgarfiling.sec.gov and then be redirected to Login.gov to create an account.
12. Can I use my personal email address?
Personal email addresses are acceptable for creating a Login.gov account. However, business and work email addresses are recommended. Email addresses will be visible to other users.
13. Can I share my Login.gov individual account credentials with others?
Sharing Login.gov account credentials is not permitted. Each user should have their own login credentials since the SEC’s intent is to identify the person accessing the EDGAR account.
14. What if I already have a Login.gov account?
You can connect EDGAR to your existing Login.gov account or you can create a new Login.gov account with another email address for EDGAR access.
15. Why are individual account credentials necessary?
Login.gov individual account credentials will replace the password, passphrase, and PMAC access codes which were previously shared amongst individuals to access the filer account. Individual account credentials will enhance security by verifying the identity of the individual accessing the account.
EDGAR Next Enrollment
16. What is the enrollment process?
Enrollment is the process by which existing filers will be allowed to transition their account to EDGAR Next. Starting March 24, 2025, filers can enroll by logging in to the new filer management website and completing the online form with the required information. The SEC has provided existing filers with an extended period of time to enroll for an easier transition without having to complete the amended Form ID which is a more burdensome process involving notarized documents and a power of attorney in certain cases.
Starting March 24, 2025, new filers do not need to separately enroll in EDGAR Next. Instead, they must complete the amended Form ID to establish their EDGAR account and will automatically be enrolled in EDGAR Next.
17. What information does a filer need to enroll?
Filers will need current EDGAR access codes including CIK, CCC, and passphrase (different from password). Filers can check with their filing agent for the availability of access codes or options to reset them. Filers will need to select a preferred calendar quarter to complete the annual confirmation. Filers will also need to provide contact information for two account administrators – name, business address, phone number, and email address (same as Login.gov email address). Filers that are individuals and single-member companies are only required to provide information for one account administrator but are recommended to provide information for two account administrators.
18. What is a “single-member company”?
A single-member company is defined as a company that has a single individual acting as the sole equity holder, director, and officer.
19. Who can enroll the filer?
An authorized person such as the CEO or CFO can enroll companies. Individuals can enroll themselves. Companies and individuals can also designate someone from a trusted entity such as a filing agent (i.e. M2 Compliance) or law firm to handle their enrollment.
Each CIK can be enrolled only once so companies should coordinate who will handle the enrollment. Also, companies should coordinate with their Section 16 filers to determine who will handle their enrollment, especially if the individual is associated with more than one public company.
20. Can multiple filers be enrolled at the same time?
A bulk enrollment option is available allowing up to 100 filers to be enrolled at the same time by completing and uploading a spreadsheet. This feature will help filing agents and companies with many filers to manage a high volume of enrollments.
21. When can I enroll, and is it better to enroll early?
Enrollment opens on March 24, 2025. Filers should enroll between March 24, 2025 and September 12, 2025 to avoid impact on ability to file. Starting September 15, 2025, filers will be unable to submit filings until they are enrolled. Enrollment closes on December 19, 2025, after which filers will need to complete the amended Form ID to gain access to EDGAR.
Filers are encouraged to enroll early but should consider planning around filing deadlines.
22. What happens after enrollment?
Account administrators who were added during enrollment will be able to access the new filer management website using their Login.gov individual account credentials. Account administrators can add users, technical administrators, and additional account administrators. Account administrators will also be able to delegate filing authority to filing agents – this should be done immediately after completing enrollment to avoid filing submission delays.
Account Administrators
23. What does an account administrator do?
An account administrator is an individual authorized by the filer to manage the filer’s account and submit filings on behalf of the filer. The responsibilities of an account administrator include:
- Maintain accurate and current information on the filer’s account on an ongoing basis including corporate and contact information.
- Manage addition and removal of users, technical administrators, and other account administrators and filing delegation to other EDGAR accounts.
- Confirm annually the filer’s information, contact information, and authorized users and delegated entities
24. How do I become an account administrator?
Existing filers can initially add two account administrators during enrollment. Once the filer is enrolled, those account administrators can add additional account administrators on the filer management website.
New filers can designate two account administrators on the amended Form ID. Once the Form ID is accepted, those account administrators can add additional account administrators on the filer management website.
25. How many account administrators are required? How many are allowed?
Companies are required to have at least two account administrators while individuals and single-member companies are required to have at least one account administrator. Filer account functionality will be restricted if the minimum number of required account administrators is not met. A maximum of 20 account administrators are allowed.
26. Do all account administrators share the same level of access?
All account administrators have the same access and capabilities, including being able to add or remove another account administrator.
However, during the enrollment process and on the amended Form ID, there is a distinction between the First Account Administrator (FAA) and the Second Account Administrator (SAA). This distinction simply designates the FAA as the default EDGAR point of contact (POC). The POC can later be changed to any account administrator, but all account administrators will have the same access and capabilities.
27. Should individuals and single-member companies have only one account administrator?
While only one account administrator is required for individuals and single-member companies, filers are recommended to have at least two account administrators or more. A filer may lose access and the ability to file if its account administrators are no longer available.
28. What happens to previous account administrators and users when a filer regains access to a deactivated account?
After completing the amended Form ID to regain access to a deactivated account, previous account administrators, users, and delegations are no longer available on the filer account. An account administrator must reinvite them.
Other Individual Roles
29. What is a user?
Users are individuals authorized by the filer to submit filings on its behalf. A filer account can have up to 500 users.
30. What is a technical administrator?
A technical administrator is an individual authorized to manage a filer’s connection to EDGAR APIs. A technical administrator cannot submit filings.
31. What is an API?
An API is a machine-to-machine connection that allows transmission of information from a source to an endpoint and vice versa. Filing applications can interact with EDGAR through secure API connections. In conjunction with EDGAR Next, the SEC has provided a toolkit of EDGAR APIs for developers. Filer API tokens and user API tokens generated on the new filer management website can be used to authenticate for API connections.
32. Do filers need to use APIs and have technical administrators?
The use of APIs is optional. Filers using M2 Compliance as their filing agent will not need to connect directly to EDGAR APIs and will not require a technical administrator.
Filers that use EDGAR APIs are required to have at least two technical administrators who can be added and removed by a filer’s account administrators.
Filing Delegation
33. What is a delegated entity?
A delegated entity is another EDGAR account such as a filing agent that has been authorized by a filer to submit filings on its behalf. M2 Compliance will function as a delegated entity for its clients in order to submit filings.
34. What is a delegated administrator and a delegated user?
A delegated entity has its own EDGAR account and its own account administrators and users.
A delegated administrator is an account administrator of the delegated entity who can authorize specific users or user groups within the delegated entity to submit filings for a particular filer that has granted filing authority.
A delegated user is an individual user of the delegated entity who is authorized to submit filings on behalf of a particular filer.
35. How many delegated entities are allowed?
Filers can delegate filing authority to an unlimited number of EDGAR accounts, allowing filers to delegate filing authority to multiple filing agents if needed.
36. How do I delegate filing authority to M2 Compliance?
On the filer management website, account administrators can send a delegation invitation to M2 Compliance by inputting M2’s CIK number. M2 Compliance becomes a delegated entity of the filer after accepting the delegation invitation.
M2 Compliance can also send delegation requests to filers which the filer can accept to complete the filing delegation.
Annual Confirmation & Deadlines
37. What is the annual confirmation requirement for filers?
EDGAR Next requires filers, through their account administrators, to confirm that all account administrators, users, technical administrators, and delegated entities are authorized by the filer, and that all information regarding the filer, including corporate and contact information, is accurate.
38. How can filers complete the annual confirmation?
A filer’s account administrator can complete the annual confirmation online by responding to the annual confirmation question which will be available on the filer dashboard of the new filer management website.
39. How can filers know their annual confirmation deadline?
The filer dashboard on the new filer management website will show the annual confirmation deadline based on the selected calendar quarter.
40. How is the calendar quarter for annual confirmation determined? Can the calendar quarter be changed? What happens if I confirm earlier than the selected quarter?
Existing filers can choose their preferred calendar quarter for annual confirmation during enrollment. The selected calendar quarter cannot be changed to later than the current deadline. If the confirmation is completed earlier than the selected calendar quarter, the new deadline will be based on the completed calendar quarter.
41. What if the filer does not complete the annual confirmation by the deadline?
Filers must complete the annual confirmation during the selected calendar quarter. Filers are granted a three-month grace period after the deadline to complete the annual confirmation. If the filer does not complete the annual confirmation by the deadline or within the three-month grace period, the account will be deactivated, and the filer will be unable to submit filings. A new amended Form ID submission will be required to reactivate the account.
Transitioning from Legacy Access
42. Can filers still use legacy EDGAR filing websites during the transition?
Filers can continue using passwords to access legacy EDGAR websites and submit filings until September 12, 2025.
43. When will the legacy filing process be discontinued and what will happen after?
The legacy filing process will end on September 12, 2025, and EDGAR access codes (passphrase, password, PMAC) will be deactivated. Starting September 15, 2025, enrollment in EDGAR Next will be mandatory. Login.gov individual account credentials will replace password-based access. Filing agents will need to be authorized as a delegated entity to submit filings.
Amended Form ID
44. Who needs to complete the amended Form ID?
New filers must complete the amended Form ID to apply for an EDGAR account (CIK) and submit filings to EDGAR.
Existing filers that are unable to enroll due to missing the enrollment period, technical difficulty, or loss of electronic access for other reasons including change of control can submit the amended Form ID to regain access.
45. When and where to complete the amended Form ID?
The amended Form ID will be available on the new filer management website starting March 24, 2025. Prior to March 24, 2025, new filers can continue applying for EDGAR access using the legacy Form ID application process.
46. What is new about the amended Form ID?
The amended Form ID is similar to the existing Form ID application to apply for EDGAR access. A key change is that the filer will need to designate two account administrators – or at least one account administrator for individuals and single-member companies. If the person being designated as an account administrator is not an employee or associate of the company, then a power of attorney (POA) will be required to be submitted along with the amended Form ID.
Preparing in Advance
47. Is beta testing required?
The SEC has made available a beta testing platform called Adopting Beta which can be accessed here: https://filermanagement-bravo.edgarfiling.sec.gov/. Filers that are interested can participate in beta testing, although it is not mandatory (beta testing may be necessary for filers utilizing self-service platforms). M2 is actively testing the technical and administrative aspects of EDGAR Next. Our team will provide step-by-step guidance to ensure a smooth transition for our clients.
48. What can I do now to prepare?
Filers are encouraged to communicate and coordinate early with their working groups to decide who will enroll the filer and be designated as account administrators. Filers should also consider their section 16 filers (i.e. directors, officers, shareholders) who may be associated with more than one public company and need additional coordination across multiple companies and filing agents. Filers can start collecting information needed for enrollment – current access codes CIK, CCC, passphrase (different from password) and contact information for account administrators.
