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Digital product passports (DPPs) serve as a critical enabler for circular economy practices by delivering comprehensive product data, with enhanced transparency in the end-of-life (EoL) phase proving particularly beneficial for efficient recovery and recycling. The European Union (EU) targets permanent magnets, especially neodymium-iron-boron (NdFeB) magnets, for DPP implementation, as they represent a vital secondary source of elements for applications in the pharmaceutical, chemical, and ammonia industry – as exemplified by the NEO‑CYCLE upcycling initiative. This work aims to define comprehensive data requirements that foster circular economy practices for products containing NdFeB magnets while ensuring regulatory compliance. The research integrates three key data sources: a literature review of established concepts, an analysis of pertinent legal frameworks, and stakeholder input from the NEO-CYCLE project via structured interviews. Results show that relatively little yet important research has been done in the realm of data requirements for sustainable EoL processing of NdFeB magnets. Although the product data is largely covered by the legal approaches of the EU, the necessity to process and transfer this product data along the supply chain emerges. This highlights the necessity for batch-based digital material passports (DMPs) to preserve informational value amid magnet mixing, relying on automated scanning and tracking for efficient data consolidation. Anticipated challenges include establishing standardized ontologies with precise attributes and protocols, alongside the resulting data uncertainty of mixing DPP-equipped products with non-equipped ones. Future research should therefore prioritize addressing these challenges to enable scalable EoL NdFeB magnet processing in line with EU circular economy goals.