Update on Fund Annual Return (“FAR”) filings for Private Funds

 

On 19 April 2021, the Cayman Islands Monetary Authority (the “Authority”) issued a Notice regarding the Private Fund FAR Form (the “FAR Form”).

Reporting requirements to be submitted via the FAR Form, when audited financial statements for 2020 are submitted to the Authority, are detailed in the Private Funds (Annual Returns) Regulations, 2021.

The Authority anticipates the FAR Form will be available by 30 June 2021 and to accommodate this release, the deadline for filing audited accounts for 2020 and the FAR Form has been extended to 30 September 2021.  In the interim, Private Funds will not be subject to any penalties for non-compliance with section 13 of the Private Funds Act (2021 Revision).

AMS Law will issue a further update on the release of the FAR Form.

Please contact Stefanie Suckoo at stefanie.suckoo@amslaw.com or (345) 324-6382 to discuss how this may affect your business and how AMS Financial Group can assist you with compliance.