Related Fund Entity Filings for Private Funds (2021-09-01)

Summary

This is a general industry notice from the Cayman Islands Monetary Authority (CIMA) announcing the release of the Private Funds Related Fund Entity (RFE) Form, made available through CIMA's Regulatory Enhanced Electronic Forms Submission (REEFS) portal. It supplements the previously released Private Fund FAR (Financial Annual Return) form, which was issued on 9 July 2021 to capture most of the annual reporting requirements for private funds under the Private Funds (Annual Returns) Regulations, 2021.

The notice clarifies that while the PF FAR form covers most reporting obligations, the Regulations also require private funds to report certain information about their related fund entities, and the new RFE Form exists specifically to capture that data. As a result, private funds must submit both the PF FAR and the RFE Form together to fully satisfy their annual reporting obligations under the Regulations. CIMA also notes that Completion Guidance for the RFE Form (reference RFE-050-77) is available on its website to assist filers.

• 2020 financial year-end or 2021 year-end up to 31 March 2021: The RFE Form is due by 30 September 2021.
• Financial year-ends of 30 April 2021 or later: The RFE Form is due six months following the relevant financial year-end.

Key obligations

• Private funds must submit both the PF FAR (Financial Annual Return) and the RFE Form to satisfy the annual reporting requirements of the Private Funds (Annual Returns) Regulations, 2021.
• Private funds with a 2020 financial year-end, or a 2021 year-end up to 31 March 2021, must file the RFE Form by 30 September 2021.
• Private funds with financial year-ends of 30 April 2021 or later must file the RFE Form within 6 months following their financial year-end.
• Filers should consult the Completion Guidance for the RFE Form (RFE-050-77) when preparing their submission.

Applies to

private funds

Deadlines

• 30 September 2021: Filing due date for the RFE Form for private funds with a 2020 financial year-end, or a 2021 year-end up to 31 March 2021.
• 6 months following such financial year-end: Filing due date for the RFE Form for private funds with financial year-ends of 30 April 2021 and later.