FASB releases 2026 taxonomy package after SEC acceptance

On March 17, 2026, The Financial Accounting Standards Board said the Securities and Exchange Commission has accepted the 2026 GAAP Financial Reporting Taxonomy , including the Employee Benefit Plan Taxonomy, along with the 2026 SEC Reporting Taxonomy, clearing the way for their use in filings.

The FASB also finalized the 2026 DQC Rules Taxonomy and the 2026 GAAP Meta Model Relationships Taxonomy. Together, the four releases form the 2026 FASB Taxonomies, designed to improve digital financial reporting, support more accurate tagging and enhance the usability of machine-readable data for regulators, preparers and investors.

The 2026 GAAP Financial Reporting Taxonomy includes updates reflecting accounting standards issued in 2025 before Dec. 1, 2025, as well as other recommended improvements. The 2026 SEC Reporting Taxonomy adds refinements for commonly used reporting elements not specifically addressed by GAAP recognition and measurement guidance, as well as to SEC schedules.

FASB said the DQC Rules Taxonomy is more narrowly tailored than a standard eXtensible Business Reporting Language (XBRL) taxonomy because it is intended primarily to convey XBRL US Data Quality Committee validation rules for regulator use. It is not meant to be incorporated into SEC filers' extension taxonomies.

The Meta Model Relationships Taxonomy is intended to help preparers identify the correct reporting elements, assist data users in consuming tagged information and support the development of business rules using expanded relationship data.

The updates reflect continued efforts to improve the consistency and usability of machine-readable financial reporting data.

FASB said stakeholders interested in the changes can attend a free live continuing professional education webinar, "2026 GAAP and SEC Reporting Taxonomy Improvements and SEC Update," on April 14, 2026, from 1 p.m. to 2 p.m. EDT. The program will feature staff from the SEC's Office of Structured Disclosure discussing the intersection of machine-readable data and artificial intelligence, filing data quality and SEC-maintained taxonomies. FASB XBRL staff will also provide an overview of the 2026 taxonomy releases.

The webinar will offer up to 1.2 hours of continuing professional education credit for registered participants.