List of Filing Extensions (2020-03-24)

Summary

This is a March 2020 notice from the Cayman Islands Monetary Authority (CIMA) listing temporary extensions to various regulatory filing deadlines across the banking, fiduciary services, investments, securities, and insurance sectors, issued in response to disruption at the time (COVID-19). It sets out, in tabular form, the original filing deadline for each specific return or report, the revised deadline (where a fixed new date was given), and/or the length of extension granted (e.g., one month, 30 days on a case-by-case basis, or an additional two weeks for onsite inspection reports).

The notice applies broadly to CIMA-regulated entities including banks, trust companies, money services businesses, development banks, building societies, credit unions, companies management providers, regulated mutual funds, mutual fund administrators, securities investment business licensees, and Class 'A' and other insurance licensees.

• For each affected group, the notice identifies a particular return (such as audited financial statements, quarterly returns, Basel II/III forms, currency transaction reports, dormant account filings, and annual insurance returns) and either a new fixed deadline or an extension period.

Because this document's status is marked as superseded, readers should treat the specific extended deadlines as historical and no longer in effect; it should not be relied upon for current filing deadlines. It is included here for reference to understand what temporary relief was granted at the time and to whom.

Key obligations

• Banks and Trust Companies must file audited financial statements by the revised deadline of 30 June 2020 (originally 31 March 2020), with a further 30-day extension available case-by-case.
• Money Services Businesses must file audited financial statements by 31 March 2020 (revised from 28 February 2020), with a further 30-day extension available case-by-case.
• Development Banks must file audited financial statements by 31 July 2020, with a further 30-day extension available case-by-case.
• Building Societies must file audited financial statements by 30 June 2020, with a further 30-day extension available case-by-case.
• Money Services Businesses must submit the Quarterly Return Form and Currency Transaction Report by the revised deadline of 29 May 2020 (originally 30 April 2020).
• Banks with Controlled Subsidiaries must submit the Controlled Subsidiary Declaration by 29 May 2020 (originally 30 April 2020).
• Credit Unions and Building Societies must submit the Quarterly Return by 29 May 2020 (originally 30 April 2020).
• Retail Banks, Credit Unions, Development Banks and Building Societies must submit the Foreclosure Disclosure Form by 29 May 2020 (originally 30 April 2020).
• Banks must submit Basel II & QPR Forms by revised deadlines depending on financial year end (29 April 2020 or 29 May 2020).
• Banks must submit Basel II Pillar II ICAAP Annual Forms by revised deadlines depending on financial year end (29 April 2020 or 30 May 2020).
• Banks must submit Basel III Liquidity Coverage/Net Stable Funding/Minimum Liquidity Ratio Forms by revised deadlines (15 April 2020 for February, 14 May 2020 for March).
• Banks must submit Cash Flow reports by 29 April 2020 (originally 31 March 2020).
• Banks, Credit Unions, Development Banks and Building Societies must submit the Locational Banking Statistics Survey and Domestic Banking Activity Form by 29 May 2020 (originally 30 April 2020).
• Banks must submit Dormant Account Filings by 30 April 2020 (originally 31 March 2020).
• Bank and Trust Companies must file audited financial statements (Dec 2019 FYE) with a 30-day extension available case-by-case, originally due 31 March 2020.
• Companies Management licensees must file audited financial statements (Dec 2019 FYE) by 30 June 2020, with a further 30-day extension available case-by-case.
• Fiduciary licensees must submit Biannual and ACL forms for 30 June 2020 with a one-month extension available.
• Regulated Funds and Mutual Fund Administrators (MFAs) must file audited financial statements/FAR (Dec 2019 FYE) by 30 June 2020, with a further 30-day extension available case-by-case.
• Securities Investment Business licensees must file audited financial statements (Dec 2019 FYE) by 30 June 2020, with a further 30-day extension available case-by-case.
• All Class 'A' insurers must file 1st Quarter 2020 Quarterly Returns by 15 May 2020 (originally 15 April 2020).
• Insurance related licensees with 30 September FYE must file annual returns (including audited financial statements) by 31 March 2020, with a further 30-day extension available case-by-case.
• Insurance related licensees with 31 December FYE must file annual returns (including audited financial statements) by 30 June 2020, with a further 30-day extension available case-by-case.
• Class 'A' External insurers must file the Report on Trust Funds within 2 months of financial year end, with a further 30-day extension available.
• Entities subject to onsite inspections receive an additional 2 weeks to submit inspection reports, with further requirements handled 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: Revised deadline for Banks and Trust Companies to file audited financial statements (originally 31-Mar-2020), with possible further 30-day extension case-by-case.
• 31-Mar-2020: Revised deadline for Money Services Business audited financial statements (originally 28-Feb-2020), with possible further 30-day extension case-by-case.
• 31-Jul-2020: Deadline for Development Banks to file audited financial statements, with possible further 30-day extension case-by-case.
• 30-Jun-2020: Deadline for Building Societies to file audited financial statements, with possible further 30-day extension case-by-case.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Money Services Business Quarterly Return Form and Currency Transaction Report.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Banks with Controlled Subsidiaries Declaration.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Credit Unions & Building Societies Quarterly Return.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Foreclosure Disclosure Form for Retail Banks, Credit Unions, Development Banks and Building Societies.
• 29-Apr-2020: Revised deadline (from 31-Mar-2020) for Basel II & QPRs Form for banks with Feb/May/Aug/Nov financial year end.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Basel II & QPRs Form for banks with Mar/Jun/Sep/Dec financial year end.
• 29-Apr-2020: Revised deadline (from 31-Mar-2020) for Basel II Pillar II ICAAP Annual Form for banks with November financial year end.
• 30-May-2020: Revised deadline (from 30-Apr-2020) for Basel II Pillar II ICAAP Annual Form for banks with December financial year end.
• 15-Apr-2020: Revised deadline (from 16-Mar-2020) for Basel III Liquidity Coverage Ratio Form for month of February.
• 14-May-2020: Revised deadline (from 14-Apr-2020) for Basel III Liquidity Coverage Ratio Form for month of March.
• 29-Apr-2020: Revised deadline (from 31-Mar-2020) for Banks' Cash Flows report.
• 29-May-2020: Revised deadline (from 30-Apr-2020) for Locational Banking Statistics Survey and Domestic Banking Activity Form.
• 30-Apr-2020: Revised deadline (from 31-Mar-2020) for Banks' Dormant Account Filings.
• 31-Mar-2020: Deadline for Bank and Trust Companies audited financial statements with Dec 2019 FYE, with possible further 30-day extension case-by-case.
• 30-Jun-2020: Deadline for Companies Management audited financial statements with Dec 2019 FYE, with possible further 30-day extension case-by-case.
• 31-Jul-2020: Deadline for Biannual and ACL forms for 30 June 2020, with 1 month extension.
• 30-Jun-2020: Deadline for Regulated Funds audited financial statements/FAR with Dec 2019 FYE, with possible further 30-day extension case-by-case.
• 30-Jun-2020: Deadline for MFAs audited financial statements with Dec 2019 FYE, with possible further 30-day extension case-by-case.
• 30-Jun-2020: Deadline for Securities Investment Business audited financial statements with Dec 2019 FYE, with possible further 30-day extension case-by-case.
• 15-May-2020: Revised deadline (from 15-Apr-2020) for Class 'A' insurers' 1st Quarter 2020 Quarterly returns.
• 31-Mar-2020: Deadline for annual return filings (incl. audited financial statements) for insurance licensees with 30 September FYE, with possible further 30-day extension case-by-case.
• 30-Jun-2020: Deadline for annual return filings (incl. audited financial statements) for insurance licensees with 31 December FYE, with possible further 30-day extension case-by-case.
• Within 2 months of FYE: Deadline for Class 'A' External insurers' Report on Trust Funds, with a 30-day filing extension (1 month) available.
• Additional 2 weeks: Extension granted for submission of onsite inspection reports.