On January 1, 2022, the updated disclosure requirements for Variable Insurance Products (VIP) filers went into effect. This change forced filers to format their initial registrations, annual updates, and post-effective amendments in a more consistent manner. On January 1, 2023, the inline XBRL (iXBRL) tagging requirement for those filers will go into effect. These changes mark a significant change for N-3, N-4, and N-6 filers, many of whom have never dealt with iXBRL in any of their filings.
Our Transform platform has been upgraded to support the iXBRL tagging for VIP projects. We have designed an easy-to-use system to tag, validate, and submit your filing to the SEC all in one place. Our platform is designed to guide any user through what sections should be tagged and which concepts are available from the VIP taxonomy.
These new mandates may lead to filers leaning on their compliance software providers for answers. At CompSci, our industry experts have researched the new rules in depth and are prepared to answer any questions you may have regarding these new mandates. Contact us to see a demo of our solution and to see how we could help you.
