NAICS will be reviewed every five years (in the years ending in ‘2’ or ‘7’) for potential revisions so that the classification system can keep pace with the changing economy.
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 2017 revision of NAICS. The next scheduled review of NAICS will be for a potential 2022 revision.