TMF-147-22 v2 – Termination of Mutual and Private Fund Application Form Completion Guide

Summary

This document is a REEFS Form Completion Guide published by CIMA explaining how to complete and submit Form TMF-147-22_v2, the online application used to terminate (de-register or cancel the licence/registration of) a Cayman Islands regulated mutual fund or registered private fund. It is procedural guidance rather than a standalone rule, and it works alongside CIMA's separate Cancellation Procedures for mutual funds and private funds.

The guide explains the REEFS roles and workflow needed to submit the form (Preparer, Submitter, Editor, New Applications and Payment roles), the review/approval workflow on CIMA's side (Analyst/Senior Analyst review, escalation, approval or rejection), and the surrender fee payable on submission. It then sets out, field by field, what information and supporting documents must be provided depending on the specific basis selected for de-registration.

• Ceasing to carry on business
• Voluntary liquidation
• Court-supervised liquidation
• Transfer to another jurisdiction
• Never having carried on business
• Re-registration as a private or mutual fund
• Merger/acquisition
• Master fund de-registration
• Single investor fund
• Conversion to a non-fund arrangement

A central requirement is that the fund must be in 'good standing' with CIMA (all prescribed fees paid, all required audited financial statements filed, no outstanding queries or regulatory filings) before the termination form can be submitted - any outstanding fees or filings will generate a blocking error message. The guide also explains how to reuse data from a previously submitted TMF-147-22 form using XBRL export/import instead of completing the form from scratch.

Key obligations

• The fund (and its authorised service provider/preparer) must ensure the fund is in good standing - all prescribed fees paid and all required audited financial statements and regulatory filings submitted - before the termination form can be validated and submitted; outstanding fees or filings will block submission.
• The applicant must select the specific basis for de-registration in field A02 and provide the corresponding mandatory supporting documents (e.g. affidavits from operators, liquidators' affidavits and reports, court winding-up orders, resolutions of operators/investors, stamped CWR forms, certificates of merger, updated constitutive/offering documents) as required for that basis under the relevant sections of the Cancellation Procedures.
• Where an original certificate/licence has been issued, the applicant must return the certificate or registration document, or if lost, submit a signed affidavit confirming it will be returned if found.
• The applicant must attach a certified copy of the operators'/investors' resolution or other constitutional document specifying the date the fund ceased or will cease business, or the winding-up order if in court-supervised liquidation.
• The applicable surrender fee for termination must be paid via the REEFS payment portal before the application proceeds to review.
• Users must have the correct REEFS roles assigned (Preparer, Submitter, Editor, New Applications, New Applications Preparer, Payment Full Access) to access and process the form.

Applies to

regulated mutual funds, registered private funds, fund operators, fund administrators/auditors, voluntary liquidators, official liquidators, service providers acting as de-registration agents