# DocFinQA: A Long-Context Financial Reasoning Dataset

arXiv: https://arxiv.org/abs/2401.06915 · HTML: https://mlsanity.com/paper/2401.06915/

## Key facts

- Cited by 60 papers in the map (data through 14 Oct 2026).
- Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning.
- Builds on 23 of its 41 references that are in the map.
- First posted on arXiv 12 Jan 2024.

## Placed in

- LLM reasoning / [Reasoning for agents, planning and code](https://mlsanity.com/lr/reasoning-for-agents-planning-and-code/)

## Builds on (most cited first, 23 of 23)

- [Language Models are Few-Shot Learners](https://mlsanity.com/paper/2005.14165/) (2020)
- [Retrieval-Augmented Generation for Knowledge-Intensive NLP Tasks](https://mlsanity.com/paper/2005.11401/) (2020)
- [Sentence-BERT: Sentence Embeddings using Siamese BERT-Networks](https://mlsanity.com/paper/1908.10084/) (2019)
- [RoFormer: Enhanced Transformer with Rotary Position Embedding](https://mlsanity.com/paper/2104.09864/) (2021)
- [FlashAttention: Fast and Memory-Efficient Exact Attention with IO-Awareness](https://mlsanity.com/paper/2205.14135/) (2022)
- [Longformer: The Long-Document Transformer](https://mlsanity.com/paper/2004.05150/) (2020)
- [ColBERT: Efficient and Effective Passage Search via Contextualized Late Interaction over BERT](https://mlsanity.com/paper/2004.12832/) (2020)
- [Train Short, Test Long: Attention with Linear Biases Enables Input Length Extrapolation](https://mlsanity.com/paper/2108.12409/) (2021)
- [Atlas: Few-shot Learning with Retrieval Augmented Language Models](https://mlsanity.com/paper/2208.03299/) (2022)
- [BloombergGPT: A Large Language Model for Finance](https://mlsanity.com/paper/2303.17564/) (2023)
- [The RefinedWeb Dataset for Falcon LLM: Outperforming Curated Corpora with Web Data, and Web Data Only](https://mlsanity.com/paper/2306.01116/) (2023)
- [The NarrativeQA Reading Comprehension Challenge](https://mlsanity.com/paper/1712.07040/) (2017)
- [FinQA: A Dataset of Numerical Reasoning over Financial Data](https://mlsanity.com/paper/2109.00122/) (2021)
- [TAT-QA: A Question Answering Benchmark on a Hybrid of Tabular and Textual Content in Finance](https://mlsanity.com/paper/2105.07624/) (2021)
- [SearchQA: A New Q&A Dataset Augmented with Context from a Search Engine](https://mlsanity.com/paper/1704.05179/) (2017)
- [XuanYuan 2.0: A Large Chinese Financial Chat Model with Hundreds of Billions Parameters](https://mlsanity.com/paper/2305.12002/) (2023)
- [System 2 Attention (is something you might need too)](https://mlsanity.com/paper/2311.11829/) (2023)
- [Automated Rationale Generation: A Technique for Explainable AI and its Effects on Human Perceptions](https://mlsanity.com/paper/1901.03729/) (2019)
- [BBT-Fin: Comprehensive Construction of Chinese Financial Domain Pre-trained Language Model, Corpus and Benchmark](https://mlsanity.com/paper/2302.09432/) (2023)
- [QED: A Framework and Dataset for Explanations in Question Answering](https://mlsanity.com/paper/2009.06354/) (2020)
- [Extractive is not Faithful: An Investigation of Broad Unfaithfulness Problems in Extractive Summarization](https://mlsanity.com/paper/2209.03549/) (2022)
- [Answer Generation for Retrieval-based Question Answering Systems](https://mlsanity.com/paper/2106.00955/) (2021)
- [A Graphical Approach to Document Layout Analysis](https://mlsanity.com/paper/2308.02051/) (2023)

## Built on by (most cited first, 30 of 60)

- [BABILong: Testing the Limits of LLMs with Long Context Reasoning-in-a-Haystack](https://mlsanity.com/paper/2406.10149/) (2024)
- [TriForce: Lossless Acceleration of Long Sequence Generation with Hierarchical Speculative Decoding](https://mlsanity.com/paper/2404.11912/) (2024)
- [M-Longdoc: A Benchmark For Multimodal Super-Long Document Understanding And A Retrieval-Aware Tuning Framework](https://mlsanity.com/paper/2411.06176/) (2024)
- [Fino1: On the Transferability of Reasoning-Enhanced LLMs and Reinforcement Learning to Finance](https://mlsanity.com/paper/2502.08127/) (2025)
- [FinAgentBench: A Benchmark Dataset for Agentic Retrieval in Financial Question Answering](https://mlsanity.com/paper/2508.14052/) (2025)
- [Is It Really Long Context if All You Need Is Retrieval? Towards Genuinely Difficult Long Context NLP](https://mlsanity.com/paper/2407.00402/) (2024)
- [PeerQA: A Scientific Question Answering Dataset from Peer Reviews](https://mlsanity.com/paper/2502.13668/) (2025)
- [FinDER: Financial Dataset for Question Answering and Evaluating Retrieval-Augmented Generation](https://mlsanity.com/paper/2504.15800/) (2025)
- [PlanGEN: A Multi-Agent Framework for Generating Planning and Reasoning Trajectories for Complex Problem Solving](https://mlsanity.com/paper/2502.16111/) (2025)
- [MathHay: An Automated Benchmark for Long-Context Mathematical Reasoning in LLMs](https://mlsanity.com/paper/2410.04698/) (2024)
- [Emulating Retrieval Augmented Generation via Prompt Engineering for Enhanced Long Context Comprehension in LLMs](https://mlsanity.com/paper/2502.12462/) (2025)
- [How Do Large Vision-Language Models See Text in Image? Unveiling the Distinctive Role of OCR Heads](https://mlsanity.com/paper/2505.15865/) (2025)
- [Fin-RATE: A Real-world Financial Analytics and Tracking Evaluation Benchmark for LLMs on SEC Filings](https://mlsanity.com/paper/2602.07294/) (2026)
- [STRUX: An LLM for Decision-Making with Structured Explanations](https://mlsanity.com/paper/2410.12583/) (2024)
- [LLM Output Drift: Cross-Provider Validation & Mitigation for Financial Workflows](https://mlsanity.com/paper/2511.07585/) (2025)
- [BigFinanceBench: A Workflow-Grounded Benchmark for Financial-Research Agents](https://mlsanity.com/paper/2606.03829/) (2026)
- [Single-Pass Document Scanning for Question Answering](https://mlsanity.com/paper/2504.03101/) (2025)
- [Hierarchical Retrieval with Evidence Curation for Open-Domain Financial Question Answering on Standardized Documents](https://mlsanity.com/paper/2505.20368/) (2025)
- [FinGEAR: Financial Mapping-Guided Enhanced Answer Retrieval](https://mlsanity.com/paper/2509.12042/) (2025)
- [DeFine: Decision-Making with Analogical Reasoning over Factor Profiles](https://mlsanity.com/paper/2410.01772/) (2024)
- [Verbosity-Aware Rationale Reduction: Effective Reduction of Redundant Rationale via Principled Criteria](https://mlsanity.com/paper/2412.21006/) (2024)
- [Bridging Language Models and Financial Analysis](https://mlsanity.com/paper/2503.22693/) (2025)
- [Metadata-Driven Retrieval-Augmented Generation for Financial Question Answering](https://mlsanity.com/paper/2510.24402/) (2025)
- [FinRetrieval: A Benchmark for Financial Data Retrieval by AI Agents](https://mlsanity.com/paper/2603.04403/) (2026)
- [FinGround: Detecting and Grounding Financial Hallucinations via Atomic Claim Verification](https://mlsanity.com/paper/2604.23588/) (2026)
- [Herculean: An Agentic Benchmark for Financial Intelligence](https://mlsanity.com/paper/2605.14355/) (2026)
- [FrontierFinance: A Challenging Benchmark for Measuring Frontier Intelligence of Finance Agents](https://mlsanity.com/paper/2608.11683/) (2026)
- [Extract, Match, and Score: An Evaluation Paradigm for Long Question-context-answer Triplets in Financial Analysis](https://mlsanity.com/paper/2503.16575/) (2025)
- [Language Modeling for the Future of Finance: A Survey into Metrics, Tasks, and Data Opportunities](https://mlsanity.com/paper/2504.07274/) (2025)
- [Domain Specific Benchmarks for Evaluating Multimodal Large Language Models](https://mlsanity.com/paper/2506.12958/) (2025)

## Abstract (arXiv)

For large language models (LLMs) to be effective in the financial domain -- where each decision can have a significant impact -- it is necessary to investigate realistic tasks and data. Financial professionals often interact with documents that are hundreds of pages long, but most financial research datasets only deal with short excerpts from these documents. To address this, we introduce a long-document financial QA task. We augment 7,437 questions from the existing FinQA dataset with the full-document context, extending the average context length from under 700 words in FinQA to 123k words in DocFinQA. We conduct extensive experiments over retrieval-based QA pipelines and long-context language models. DocFinQA proves a significant challenge for even state-of-the-art systems. We also provide a case-study on the longest documents in DocFinQA and find that models particularly struggle on these documents. Addressing these challenges may have a wide reaching impact across applications where specificity and long-range contexts are critical, like gene sequences and legal document contract analysis.