List of Extensions for Filing Regulatory Returns (2020-03-30)

Summary

This is a notice from the Cayman Islands Monetary Authority (CIMA) published on 30 March 2020 that sets out a table of temporary extensions to filing deadlines for a wide range of regulatory returns, granted in response to the COVID-19 disruption. It covers banking and money services, fiduciary services, investments (funds and mutual fund administrators), securities investment business, and insurance sectors, plus a note on onsite inspection timelines.

• Listed returns: For each listed return (e.g. audited financial statements, quarterly returns, Basel II/III forms, dormant account filings, Class 'A' insurer quarterly and annual returns, trust fund reports), the notice states the original filing deadline and, where applicable, a revised (extended) deadline, generally an extra 30 days.
• Case-by-case extensions: For several returns (notably various audited financial statements filings) no fixed new deadline is given; instead CIMA offers a 30-day extension available on a case-by-case basis upon request.
• Onsite inspections: Onsite inspection report deadlines are extended by an additional two weeks, with further accommodations available case-by-case.

The notice is informational/administrative in nature: it does not create new substantive compliance requirements but temporarily relaxes existing filing deadlines for the specified 2020 reporting periods. Entities relying on the case-by-case extensions would still need to request them from CIMA rather than assume automatic entitlement.

Key obligations

• Entities seeking the case-by-case 30-day extensions (e.g. for various audited financial statements filings) must apply to CIMA rather than assume an automatic extension applies.
• Banks and Trust Companies must file audited financial statements by the extended deadline of 30-Jun-2020 (originally 31-Mar-2020).
• Money Services Businesses must file audited financial statements by the extended deadline of 31-Mar-2020 (originally 28-Feb-2020).
• Money Services Businesses must file the Quarterly Return Form and Currency Transaction Report by the extended deadline of 29-May-2020 (originally 30-Apr-2020).
• Banks with Controlled Subsidiaries must file the Controlled Subsidiary Declaration by 29-May-2020 (originally 30-Apr-2020).
• Credit Unions & Building Societies must file their Quarterly Return by 29-May-2020 (originally 30-Apr-2020).
• Retail Banks, Credit Unions, Development Banks and Building Societies must file the Foreclosure Disclosure Form by 29-May-2020 (originally 30-Apr-2020).
• Banks must file Basel II & QPR forms by extended deadlines of 29-Apr-2020 or 29-May-2020 depending on financial year end.
• Banks with November or December financial year ends must file the Basel II Pillar II ICAAP Annual Form by 29-Apr-2020 or 30-May-2020 respectively.
• Banks must file Basel III Liquidity Coverage, Net Stable Funding and Minimum Liquidity Ratio forms by 15-Apr-2020 (February) or 14-May-2020 (March).
• Banks must file Cash Flows reports by 29-Apr-2020 (originally 31-Mar-2020).
• Banks, Credit Unions, Development Banks and Building Societies must file the Locational Banking Statistics Survey and Domestic Banking Activity Form by 29-May-2020 (originally 30-Apr-2020).
• Banks and Credit Unions must file Dormant Account Filings by 30-Apr-2020 (originally 31-Mar-2020).
• Trust Companies must file Dormant Account Filings by 30-Apr-2020 (originally 31-Mar-2020).
• Companies Management entities must file audited financial statements with December 2019 FYE by 30-Jun-2020, or request the case-by-case 30-day extension.
• All Class 'A' insurers must file 1st Quarter 2020 quarterly returns by 15-May-2020 (originally 15-Apr-2020).
• Insurance companies must file Dormant Account Filings by 30-Apr-2020 (originally 31-Mar-2020).
• Class 'A' External insurers must file the Report on Trust Funds within 2 months of financial year end, or may request a 30-day filing extension.
• Entities subject to onsite inspections receive an additional two weeks to respond to inspection reports, with further accommodation available case-by-case.

Applies to

Banks, Trust Companies, Money Services Business, Development Banks, Building Societies, Credit Unions, Companies Management, Regulated Funds, Mutual Fund Administrators (MFAs), Securities Investment Business, Class 'A' insurers, Class 'A' External insurers, Insurance related licensees

Deadlines

• 30-Jun-2020: Extended deadline for Banks and Trust Companies to file audited financial statements (originally 31-Mar-2020).
• 31-Mar-2020: Extended deadline for Money Services Business audited financial statements (originally 28-Feb-2020).
• 31-Jul-2020: Deadline for Development Banks' audited financial statements (30-day case-by-case extension available).
• 30-Jun-2020: Deadline for Building Societies' audited financial statements (30-day case-by-case extension available).
• 29-May-2020: Extended deadline for Money Services Business Quarterly Return Form and Currency Transaction Report (originally 30-Apr-2020).
• 29-May-2020: Extended deadline for Banks with Controlled Subsidiary Declaration (originally 30-Apr-2020).
• 29-May-2020: Extended deadline for Credit Unions & Building Societies Quarterly Return (originally 30-Apr-2020).
• 29-May-2020: Extended deadline for Foreclosure Disclosure Form (originally 30-Apr-2020).
• 29-Apr-2020: Extended deadline for Basel II & QPRs Form for banks with Feb/May/Aug/Nov financial year end (originally 31-Mar-2020).
• 29-May-2020: Extended deadline for Basel II & QPRs Form for banks with Mar/Jun/Sep/Dec financial year end (originally 30-Apr-2020).
• 29-Apr-2020: Extended deadline for Basel II Pillar II ICAAP Annual Form for banks with November FYE (originally 31-Mar-2020).
• 30-May-2020: Extended deadline for Basel II Pillar II ICAAP Annual Form for banks with December FYE (originally 30-Apr-2020).
• 15-Apr-2020: Extended deadline for Basel III Liquidity Coverage Ratio Form (Month of February) (originally 16-Mar-2020).
• 14-May-2020: Extended deadline for Basel III Liquidity Coverage Ratio Form (Month of March) (originally 14-Apr-2020).
• 29-Apr-2020: Extended deadline for Cash Flows report for Banks (originally 31-Mar-2020).
• 29-May-2020: Extended deadline for Locational Banking Statistics Survey (originally 30-Apr-2020).
• 29-May-2020: Extended deadline for Domestic Banking Activity Form (originally 30-Apr-2020).
• 30-Apr-2020: Extended deadline for Dormant Account Filings by Banks and Credit Unions (originally 31-Mar-2020).
• 30-Jun-2020: Deadline for Companies Management audited financial statements with Dec 2019 FYE (30-day case-by-case extension available).
• 31-Jul-2020: Deadline for Biannual and ACL forms for 30 June 2020 (30-day extension available).
• 30-Apr-2020: Extended deadline for Trust Companies' Dormant Account Filings (originally 31-Mar-2020).
• 30-Jun-2020: Deadline for Regulated Funds' audited financial statements/FAR with Dec 2019 FYE (30-day case-by-case extension available).
• 30-Jun-2020: Deadline for MFAs' audited financial statements with Dec 2019 FYE (30-day case-by-case extension available).
• 30-Jun-2020: Deadline for Securities Investment Business audited financial statements with Dec 2019 FYE (30-day case-by-case extension available).
• 15-May-2020: Extended deadline for Class 'A' insurers' Q1 2020 quarterly returns (originally 15-Apr-2020).
• 31-Mar-2020: Deadline for annual return filings (incl. audited financial statements) for insurance licensees with 30 September FYE (30-day case-by-case extension available).
• 30-Jun-2020: Deadline for annual return filings (incl. audited financial statements) for insurance licensees with 31 December FYE (30-day case-by-case extension available).
• Within 2 months of FYE: Deadline for Class 'A' External insurers' Report on Trust Funds, with a 30-day filing extension available.
• 30-Apr-2020: Extended deadline for insurance companies' Dormant Account Filings (originally 31-Mar-2020).