Fund Annual Return filings for Private Funds

The Cayman Islands Monetary Authority (“the Authority”) has published the Private Fund FAR Form (“FAR Form”) for all funds registered with the Authority under the Private Funds Act (“Private Funds”).

Private Fund operators must complete and submit the FAR Form to the Authority within six (6) months of the Private Fund’s year end.  The filing deadline for Private Funds with a financial year end before 31 March 2021 has been extended to 30 September 2021.

FAR filings must be submitted to the Authority via REEFS and must include:

  1. The completed FAR Form;
  2. The Private Fund’s audited financial statements; and
  3. The operator declaration signed by the operator (director/general partner/trustee) confirming the Private Fund’s compliance with section 16 (valuation), section 17 (safekeeping of assets) and section 18 (cash monitoring) of the Private Funds Act.

We recommend the following steps:

  • Ensure you have the correct version of the FAR Form;
  • Ensure the FAR Form is completed by a person with knowledge of the Private Fund’s operations and financial statements;
  • Ensure the operator reviews and approves the FAR Form and approves and signs the operator declaration; and
  • Ensure the Private Fund’s auditor or registered office submit items 1, 2 and 3 listed above via REEFS.

Please contact Stefanie Suckoo at stefanie.suckoo@amslaw.com or (345) 324-6382 to request the current version of the FAR Form and operator declaration or to learn more about how this may affect your business and how AMS Financial Group can assist you with compliance.