2022 NAICS CODE CHANGES
How Often Do NAICS Codes Change?
NAICS Codes are updated across North America including The US, Canada & Mexico once every 5 years to reflect changes and innovations in the North American economy.
When do the 2022 NAICS Codes Take Effect?
Typically, the census, SBA, and private data companies such as Dun & Bradstreet transition to the new system in the 3rd or 4th quarter of the release year, however there is no specified timeline.
*2022 NAICS CODES ARE NOW IN USE
What are the significant changes to the 2022 NAICS Codes?
For a far more detailed overview of NAICS changes, download the NAICS 2017 - 2022 Concordance. In very brief summary, industries affected by the new changes include a wide variety of mining operations, many retailers and distributers, various manufacturers, publishers, wholesale trade, media streaming , banking and finance industries, and various automotive industries.
Who Changes the NAICS Code System?
The Office of Management and Budget (OMB), through its Economic Classification Policy Committee (ECPC), will solicit public comments through a notice published in the Federal Register. The notice will provide details of the format in which comments should be submitted, to whom they should be submitted, and the deadline for submission. Generally, the comment period will close 90 days after publication of the notice.
During that time, suggestions for new and emerging industries can be submitted to the ECPC. This committee will review each comment submitted to determine its feasibility and adherence to the underlying principles of NAICS, consult with the NAICS counterparts in Canada and Mexico to determine if they can accept the proposed changes that would impact 3-country comparability, and then make final recommendations to OMB for additions and changes to the NAICS manual.
This process is now completed for the 2022 revision of NAICS. The next scheduled review of NAICS will be for a potential 2027 revision.