Question ID: 2931 - NACE 2.1
Regulation Reference: (EU) 2019/1238 - Pan-European Personal Pension Product (PEPP), (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD, (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, EIOPA-BoS-23-030 - Regular information requests regarding provision of occupational pensions information
Topic: Reporting (Art. 40 PEPP), Reporting by IORPs, Reporting templates on risk concentrations and intra-group transactions for conglomerates (FICOD), Reporting Templates
Template: FC.06, FC.07, PF.06.02, PP.06.02, S.06.02, S.06.04, S.11.01, S.37.01, S.37.02, SE.06.02
Status: Revised
Date of submission: 12 Dec 2023
Question
A new NACE classification (2.1) has been officially published in February 2023. For statistical purposes it will come into effect as per Jan 1st, 2025. Will it also be mandatory to use this revised classification scheme as per that date for regulatory reporting purposes, like the Solvency II QRTs?
Background of the question
The change log between NACE 2.0 and NACE 2.1 shows that's not an easy 1-to-1 mapping from the current to the new scheme. Preparation time is needed to apply to the new scheme.
EIOPA answer
The answer to this question has been revised on 13/05/2026:
Until the reference dates of 30/12/2025, undertakings must continue to report using the NACE 2.0 codes (for all EIOPA reporting frameworks). If these codes are not available from the data provider, NACE 2.1 codes must be mapped to NACE 2.0 codes on a best-effort basis, as it is not possible to report NACE 2.1 codes under the current taxonomy releases.
For reference dates from 31/12/2025:
- When NACE Rev. 2.0 is available for all reporting lines, it must continue to be reported in the same column as before. No changes or use of the taxonomy optional hotfix is required for these undertakings.
- When NACE Rev 2.0 is not available for some or all lines, undertakings shall report NACE 2.0 for the lines where it is available, and NACE 2.1 for the lines where it is not. Optionally, undertakings may report both NACE 2.0 and NACE 2.1 for all or some lines. In all these cases, undertakings will need to apply the taxonomy optional hotfix to access the new NACE 2.1 columns and report as detailed in the Annex 1 of the respective taxonomy release notes.
To assist with NACE implementation planning for the Solvency II reporting, please be informed that EIOPA plans the hard switch by the next taxonomy release 2.10.0 to be applicable from Q1/2027 reporting reference period), at which point reporting will exclusively require NACE 2.1 codes for the Solvency II framework.
IORPs, PEPP, and FICOD can still use the current taxonomy releases in production or their optional NACE 2.1 hotfix releases until further information from EIOPA.
Old answer published until 13/05/2026
The answer to this question has been completed on 25/08/2025 to include reference dates from 31/12/2025:
Until the reference dates of 30/12/2025, undertakings must continue to report using the NACE 2.0 codes (for all EIOPA reporting frameworks). If these codes are not available from the data provider, NACE 2.1 codes must be mapped to NACE 2.0 codes on a best-effort basis, as it is not possible to report NACE 2.1 codes under the current taxonomy releases.
For reference dates from 31/12/2025:
When NACE Rev. 2.0 is available for all reporting lines, it must continue to be reported in the same column as before. No changes or use of the taxonomy optional hotfix is required for these undertakings.
- When NACE Rev 2.0 is not available for some or all lines, undertakings shall report NACE 2.0 for the lines where it is available, and NACE 2.1 for the lines where it is not. Optionally, undertakings may report both NACE 2.0 and NACE 2.1 for all or some lines. In all these cases, undertakings will need to apply the taxonomy optional hotfix to access the new NACE 2.1 columns and report as detailed in the Annex 1 of the respective taxonomy release notes.
To assist with NACE implementation planning, please be informed that EIOPA plans to complete the transition by the next taxonomy release 2.10 (likely for the reference date 31/12/2026), at which point reporting will exclusively require NACE 2.1 codes.