The SEC announced last week in a press release and hour long webcast that the EDGAR depository of corporate filings will be replaced by IDEA. The IDEA acronym stands for Interactive Data, Electronic Applications and will be the platform for interactive filings based on XBRL tagging. The SEC did not unveil a new database, they simply announced the new name and logo, so expect more details before the end of the year.
The SEC did say that they expect IDEA to be fully functional in three years at which time EDGAR will become an archive for historical documents. The first filers are expected to be Fortune 500 companies filing their 10-K for the 2008 year.
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