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SDDT reporting from 1 January 2027: PRA116, PRA117 and PRA118

From 1 January 2027, small domestic deposit takers (SDDTs), the UK banks and building societies in the PRA’s simpler Strong and Simple regime, report their own funds and capital requirements on new, shorter templates (PRA116) instead of COREP own funds (COR001a). Their capital forecasts (Capital+) move to PRA117, every half year, or PRA118, once a year. All three are built on the Bank of England’s banking taxonomy 4.1.1. The first PRA116 is for the quarter ending 31 March 2027 and is due by 12 May 2027.

Guide · 8 min read · Updated 11 November 2026 · By Jess Luper

Who is an SDDT

An SDDT, or small domestic deposit taker, is a UK bank or building society that has chosen the PRA’s simpler prudential regime, which the PRA calls Strong and Simple. A firm that meets the criteria joins by accepting the PRA’s offer of a modification by consent (PRA). The main tests are these.

01SizeTotal assets of no more than £20 billion, on average over the past three years.
02Mainly UK lendingAt least 75% of credit exposures in the UK at all times, and at least 85% on average over the past three years.
03Little tradingA trading book of no more than £44 million and 5% of total assets, a net foreign exchange position of no more than 2% of own funds, and no commodities.
04Simple and UK ownedNo internal ratings based (IRB) models for credit risk, no clearing, settlement or custody services for banks outside its group, no payment system of its own, and no parent outside the UK.
36building societies among the 67 firms that have opted in as SDDTsPRA, Charlotte Gerken, April 2026 →
51capital reporting templates SDDTs are descoped from, up from 38 first proposedPRA, PS20/25 →
18% to 35%of finance team staff time goes on regulatory reporting in the societies under £1 billion the BSA sampledBSA, May 2026 →

Most building societies are SDDTs

In April 2026 the PRA said that “all eligible building societies have now chosen to join the Strong and Simple framework and become SDDT firms”. On its count, from authorisations data for the first quarter of 2026, there are 67 SDDTs, 36 of them building societies (PRA, Charlotte Gerken, 28 April 2026). The Building Societies Association counts 42 building societies in the UK (BSA, July 2026).

Reporting already weighs on them. In the BSA’s 2026 survey, 74% of the building society and credit union chief executives who answered rated regulatory reporting a quite or significant burden, more than any other area of regulation (BSA, The burden of regulation). In its sample of societies under £1 billion, reporting takes 18% to 35% of finance team staff time (BSA, response to DP1/26).

What changes on 1 January 2027

The SDDT capital regime, and the reporting that goes with it, take effect on 1 January 2027 (PRA, PS4/26). Four things change for an SDDT’s returns.

01Own funds move to new templates (PRA116)Own funds and capital requirements for any date from 1 January 2027 are no longer reported on COREP own funds (COR001a), on a taxonomy written by the European Banking Authority. SDDTs report them on the Bank of England’s Own Funds for SDDTs (PRA116), and other firms on PRA001 (Bank of England release note).
02Fewer templatesThe PRA has descoped SDDTs from 51 capital templates, up from the 38 it first proposed, and cut rows and columns from others, so SDDT reporting is “significantly simpler and shorter than for other firms” (PRA, PS20/25).
03Capital+ forecasts of their own (PRA117 and PRA118)SDDTs stop filing the Capital+ returns other firms file (PRA113 and PRA114) and file versions for SDDTs instead: PRA117 every half year, or PRA118 once a year (PRA Rulebook, Regulatory Reporting Part, rule 20.21).
04The same leverage templates as other firms (LVR001)Where an SDDT reports leverage, it uses the same templates as other firms, without LV 40.00, LV 41.00, LV 43.00 or LV 44.00 (Reporting (CRR) Part, Article 15). Only firms that use the SDDT method fill the new row 0121 of LV 47.00 (Bank of England release note).
“We may require firms to take mitigating actions or increase capital and liquidity add-ons if they submit poor quality data.”Bank of England, on its regulatory reporting page for banks, building societies and investment firms

The three returns, and what each holds

All three are XBRL-XML files built on the Bank of England’s banking taxonomy 4.1.1, published with its release note of 27 August 2026. Capital+ returns go through the Bank’s BEEDS portal (Bank of England). Also new on 1 January 2027 is PRA119, firm information and a Pillar 2A summary for SDDTs, which is not one of the banking taxonomy’s returns.

01Own funds for SDDTs (PRA116)Every quarter: own funds, capital requirements and capital ratios (SC 01.00 to SC 04.00), credit risk under the standardised approach (SC 07.00), exposures by country (SC 09.04, and SC 09.01 where 10% or more are outside the UK), derivatives and securities financing (SC 34.00), securitisation (SC 13.01), operational risk (SC 16.00), foreign exchange (SC 22.00) and the size of the trading book (SC 90.00). Securitisation detail every half year (SC 14.00 and SC 14.01), and for a group, information on the firms in it every half year (SC 06.01 and SC 06.02). A firm whose business indicator is over £880 million also reports ten years of operational losses once a year (Reporting (CRR) Part, Articles 9 to 10).
02Capital+ forecast, every half year (PRA117)For SDDTs with total assets of more than £5 billion. Forecasts of own funds and capital requirements one, two and three years ahead, in line with the firm’s capital plan, in sections that follow the PRA116 own funds templates (SC 01.00, SC 02.00 and SC 04.00) plus a PRA supplementary data section. It holds no actual figures: those come from PRA116. Due 30 business days after each Capital+ reference date, which is the firm’s accounting year end and six months after it (PRA117 instructions; Regulatory Reporting Part, rule 20.21).
03Capital+ forecast, once a year (PRA118)For SDDTs with total assets of £5 billion or less. The same forecasts, as at the firm’s accounting year end, due 30 business days later. For a December year end, the return for December 2027 forecasts December 2028, December 2029 and December 2030 (PRA118 instructions).
How a PRA116 file says which taxonomy it follows
Where to look
The schemaRef at the top of the XBRL-XML file: the address of the entry point the return follows.
Taxonomy 4.1.1
The PRA116 address carries the date 2026-08-17. Firms that report PRA116 must adopt 4.1.1.
Taxonomy 4.0.0 and 4.1.0
The PRA116 address carries the date 2026-02-27. The Bank retires it for live reporting from 1 January 2027.
PRA117 and PRA118
The same address in 4.0.0, 4.1.0 and 4.1.1, dated 2026-02-27: the Bank corrected their rules without changing it.
What to do

If your PRA116 file names 2026-02-27, your software is still on taxonomy 4.0.0 or 4.1.0. Move it to 4.1.1 before your first return, for 31 March 2027.

The schemaRef of a 4.1.1 PRA116 fileShow<link:schemaRef xlink:type="simple" xlink:href="http://www.bankofengland.co.uk/data/xbrl/fws/banking/banking_reporting_sddt/2026-08-17/mod/pra116.xsd" />

Addresses from the Bank of England’s release note for taxonomy 4.1.1. The schemaRef is written as in the Bank’s own PRA116 sample.

How to check a return before you file it

The Bank of England publishes validation rules with each taxonomy release, with sample files and a log of known issues, where it lists the rules it has downgraded or switched off until the next release (Bank of England release note). The Capital+ checks are, in the PRA’s words, “essentially a sub-set of the validations” for the SDDT own funds return (PRA117 and PRA118 instructions), so the rules you meet on PRA116 come up again in your forecasts.

Line4 Check runs 529 of the Bank’s 531 active validation checks for PRA116, all 13 for PRA117 and all 9 for PRA118 on taxonomy 4.1.1, in your browser, free, without uploading the file. It reads the schemaRef and checks a file only against the 4.1.1 rules for the return it names, so a PRA116 file still on the retired February 2026 address is not checked, and it tells you so.

The Bank’s sample files hold random data that the Bank says “should not be assumed to obey the validation rules” (release note). Expect failures when you try one: it shows what a report looks like before you check your own file. The validation run when you submit is the one that counts.

Free tool · Line4 CheckCheck your PRA116, PRA117 and PRA118 against the Bank of England's rules, in your browser

Line4 Check runs the checks counted below, from the Bank's validation rules for these three returns on its banking taxonomy 4.1.1, plus 47 rules of the Bank's XBRL Filing Manual v1.0.1 in full and 2 in part, on the XBRL-XML file itself. Your file never leaves your computer. It is not a substitute for the validation run when you submit the return.

Check your own file

What does not change

Not everything moves on 1 January 2027.

01Your last COREP own funds return (COR001a)Own funds for 31 December 2026 and earlier stay on COREP own funds, on the EBA taxonomy 3.0 the PRA has used since 2022. The quarterly return for 31 December 2026 is due by 11 February 2027 (Bank of England; Reporting (CRR) Part, Article 3).
02The deadlinesQuarterly returns under the Reporting (CRR) Part are still due by 12 May, 11 August, 11 November and 11 February, half-yearly ones by 11 August and 11 February, and annual ones by 11 February, or the next working day when that is a weekend or public holiday (Article 3).
03Returns the taxonomy leaves unchangedReturns whose entry points 4.1.1 leaves unchanged, such as liquidity (PRA110), can still be filed on 4.0.0 or 4.1.0, though the Bank encourages firms to adopt 4.1.1 (release note).
04Where Capital+ goesCapital+ returns still go through the Bank’s BEEDS portal (Bank of England).
Put it to workYour first PRA116 filing: a checklist
  1. 1Confirm that your firm is an SDDT, and on which bases it reports: individual, and consolidated if it heads a group.
  2. 2File your last COREP own funds return (COR001a), for 31 December 2026, by 11 February 2027.
  3. 3Move your reporting software to taxonomy 4.1.1, and check that every PRA116 file’s schemaRef carries the date 2026-08-17.
  4. 4Read Annex IIA, the PRA’s instructions for the SDDT templates, and map each figure you report today to its new row.
  5. 5Build a trial PRA116 from your 31 December 2026 figures and run it through the Bank’s 4.1.1 rules, so you find what fails before the real one.
  6. 6Read the Bank’s known issues log before each filing: it lists the rules it has downgraded or switched off.
  7. 7Put 12 May 2027 in the diary for the first PRA116, and agree the senior committee that will sign off your first PRA117 or PRA118 forecast.

Where Line4 fits

Line4 is SupTech software for financial regulators. It collects returns in XBRL, Excel and CSV by portal, API or MCP, validates them against your taxonomies and rules at the point of submission, and puts AI to work reading them, with supervisors making every decision. If you work with a standard we have not yet run in production, we will say so plainly and show you how we would approach it.

For UK banks and building societies, Line4 Check for PRA banking returns runs 3,084 of the Bank’s 3,730 active validation checks for the 24 returns of the Bank of England's banking taxonomy 4.1.1, PRA116, PRA117 and PRA118 among them, in XBRL-XML, in your browser, without uploading anything. It is free to use. Reporting to the PRA as an insurer? Read Solvency UK reporting.

Checks like these, run at the moment a return is submitted, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.

Questions

What is an SDDT?

A small domestic deposit taker: a UK bank or building society that has opted in to the PRA’s simpler Strong and Simple regime. It must have total assets of no more than £20 billion on average over three years, mainly UK credit exposures, little trading, no IRB models and no parent outside the UK, among other tests.

What is PRA116?

The Bank of England’s Own Funds for SDDTs: the quarterly report of own funds, capital requirements and capital ratios that SDDTs file instead of COREP own funds (COR001a) for any date from 1 January 2027. It is built on the Bank’s banking taxonomy 4.1.1, on the SDDT templates (SC) set out in Annex IA of the PRA’s Reporting (CRR) Part.

When is the first PRA116 due?

The first is for the quarter ending 31 March 2027, due by close of business on 12 May 2027. Quarterly returns under the Reporting (CRR) Part are due by 12 May, 11 August, 11 November and 11 February (Article 3).

Do I file PRA117 or PRA118?

It depends on size. SDDTs with total assets of more than £5 billion file PRA117, the Capital+ forecast every half year; the others file PRA118, once a year. Both are due 30 business days after the end of the period (PRA Rulebook, Regulatory Reporting Part, rule 20.21).

Do PRA117 and PRA118 include actual figures?

No. They are forecasts of own funds and capital requirements one, two and three years ahead, in line with the firm’s capital plan. The actual figures come from PRA116 (PRA117 and PRA118 instructions).

Which taxonomy do I use for PRA116?

The Bank of England banking taxonomy 4.1.1, published with its release note of 27 August 2026. Firms that report PRA116 must adopt it, and the PRA116 address of 4.0.0 and 4.1.0, dated 2026-02-27, is retired for live reporting from 1 January 2027.

How do I check a PRA116 file before I submit it?

Run the Bank of England’s validation rules on it. Line4 Check does this free, in your browser, without uploading the file: it runs 529 of the Bank’s 531 active validation checks for PRA116, all 13 for PRA117 and all 9 for PRA118 on taxonomy 4.1.1. The validation run when you submit is the one that counts.

Does this apply to building societies?

Yes, to those that are SDDTs. In April 2026 the PRA said all eligible building societies had chosen to become SDDTs; on its count, 36 of the 67 SDDTs are building societies.

Sources
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