[1] Each novelty, after being screened by nomenclatural experts and found in accordance with the ICN (International Code of Nomenclature for algae, fungi, and plants), is allocated a unique MycoBank number before the new name has been validly published.

[2] MycoBank has emerged as the primary registration system for new fungal taxa and nomenclatural acts.

According to a 2021 analysis of taxonomic innovations in lichen and allied fungi between 2018–2020, 97.7% of newly described taxa and 76.5% of new combinations obtained their registration numbers from MycoBank, suggesting broad adoption by the mycological community.

While MycoBank is widely used for obtaining registration identifiers as required by the International Code of Nomenclature for fungi since 2013, it maintains a complementary role to Index Fungorum, which continues to serve as a commonly used system for querying general nomenclatural information about fungal names.

Registration numbers must be obtained after manuscript acceptance but before publication for new names to be considered validly published.