Listed closed-end fund shareholder reports dated June 30, 2024, may have to comply with more than one XBRL mandate
Currently, Form N-2 registrations that are filed pursuant to General Instruction A.2 must tag applicable prospectus disclosure items using inline XBRL (iXBRL), which are included in Form N-CSR using the Closed-End Fund (CEF) taxonomy.
The Share Repurchase Disclosure Modernization rule requires listed closed-end funds to tag the “Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers” disclosure in iXBRL starting with reports dated June 30, 2024. To tag this disclosure, the Share Repurchase (SHR) taxonomy will be used. This disclosure is currently under Item 9 on Form N-CSR, and will become Item 14 once the Tailored Shareholder Reports rule takes effect.
As a result of this mandate, an N-CSR or N-CSRS for listed closed-end funds may be required to file iXBRL if the following conditions are met:
- Any listed closed-end fund that includes the “Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers” disclosure must tag it using iXBRL.
- A listed closed-end fund that also files its registration pursuant to General Instruction A.2 and includes the “Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers” disclosure must tag items that apply to both the Closed-End Funds iXBRL mandate and the Share Repurchase Disclosure iXBRL mandate.
As the market leader in iXBRL filings, DFIN is ready to support your iXBRL filing requirements. DFIN provides streamlined solutions to meet all the Tailored Shareholder Reports ruling requirements for annual reports and prospectuses including:
- Creation of automated financial statement documents
- iXBRL tagging and EDGAR filings
- Web hosting
- ADA compliance
- Distribution
Whether you're leveraging a single DFIN solution or taking advantage of DFIN's full capabilities through the Arc Suite platform, we will work with you to determine the best iXBRL solution for your business.
