Fund Annual Return Filing Fees (2017-10-17)

Summary

This is a general industry notice from CIMA reminding regulated mutual funds of the fee payable for filing a Fund Annual Return (FAR). Since the Mutual Funds (Annual Returns) (Amendment) Regulations, 2012 took effect on 30 January 2013, a fee of CI$300 (US$365.85) is payable for each FAR submitted through CIMA's electronic E-reporting system. The notice clarifies administrative details around how and when this fee must be paid, rather than introducing a new legal requirement itself.

• Timing: The fee becomes due at the time the FAR is submitted, and CIMA does not issue invoices for these filings.
• Payment instructions: Entities must ensure payment instructions include the fund's name, registration/licence number, and the relevant year-end.
• Wire transfers: A copy of the payment confirmation (e.g., Swift/FED message) must be emailed to CIMA's fees inbox, and CIMA gives value as of the date payment is received.
• Receipts: Receipts are mailed to the fund's local registered office.
• Scope of fee: The CI$300 fee applies per FAR filed, including filings made for Segregated Portfolio Companies (SPCs) and Umbrella Trusts, not just standalone funds.

The notice directs further inquiries to CIMA's Investments and Securities Division.

Key obligations

• Pay a fee of CI$300 (US$365.85) for each Fund Annual Return (FAR) submitted through CIMA's E-reporting system, due at the time of submission.
• Ensure payment instructions include the regulated fund's name, registration/licence number, and the year-end for which the FAR is being submitted.
• For wire transfer payments, email a copy of the wire payment details (e.g., Swift/FED message) to fees@cimoney.com.ky.
• Pay the FAR fee separately for each Segregated Portfolio Company (SPC) sub-fund and Umbrella Trust filing, as the fee applies per FAR submitted.

Applies to

regulated mutual funds, Segregated Portfolio Companies (SPCs), Umbrella Trusts

Deadlines

• 30 January 2013: Effective date of the Mutual Funds (Annual Returns) (Amendment) Regulations (2012), which introduced the CI$300 FAR filing fee requirement.