Posted on Thursday, July 30, 2020

XBRL US submitted a comment letter to the SEC’s Office of Structured Disclosure providing input on the draft VIP Taxonomy which will be used by variable annuity and variable life insurance companies to comply with the SEC’s recently finalized rule on Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts. The comment letter which was prepared through an ad hoc working group of XBRL US members, made recommendations including suggested changes to technical aspects of the taxonomy, requests for comprehensive samples of Inline XBRL reports, revisions to the Taxonomy Guide, and additional supporting materials including a spreadsheet of taxonomy elements for ease of element review.

Read the SEC final rule.

Read the XBRL US comment letter: XBRL US Comment RE Draft VIP Taxonomy

Review the draft VIP taxonomy.