Non-invasive neuroimaging methods, including magnetoencephalography and electroencephalography (MEEG), have been critical in advancing the understanding of brain function in healthy people and in individuals with neurological or psychiatric disorders. Currently, scientific practice is undergoing a tremendous change, aiming to improve both research reproducibility and transparency in data collection, documentation and analysis, and in manuscript review. To advance the practice of open science, the Organization for Human Brain Mapping created the Committee on Best Practice in Data Analysis and Sharing (COBIDAS), which produced a report for MRI-based data in 2016. This effort continues with the OHBM’s COBIDAS MEEG committee whose task was to create a similar document that describes best practice recommendations for MEEG data. The document was drafted by OHBM experts in MEEG, with input from the world-wide brain imaging community, including OHBM members who volunteered to help with this effort, as well as Executive Committee members of the International Federation for Clinical Neurophysiology. This document outlines the principles of performing open and reproducible research in MEEG. Not all MEEG data practices are described in this document. Instead, we propose principles that we believe are current best practice for most recordings and common analyses. Furthermore, we suggest reporting guidelines for Authors that will enable others in the field to fully understand and potentially replicate any study. This document should be helpful to Authors, Reviewers of manuscripts, as well as Editors of neuroscience journals.