Private Funds (Annual Returns) Regulations, 2021 (SL 31 of 2021)

Summary

These Regulations, made under the Private Funds Act (2021 Revision), set out the detailed requirements for the annual return that every Cayman Islands private fund must file with the Cayman Islands Monetary Authority (CIMA). They prescribe the content of the annual return form (set out in the Schedule), the filing deadline, the associated fees, and a requirement to confirm compliance with certain core statutory obligations.

• Scope of the return: The annual return must cover the private fund itself as well as, where applicable, its alternative investment vehicles and sub-funds (operating and financial information under Parts B and C of the form), and must include specified information about the fund's related fund entities (such as parallel funds, alternative investment vehicles and co-investment vehicles).
• Submission: The return can be submitted by the fund's auditor or another person approved by CIMA, though that submitter is only responsible for timely submission and not for the accuracy of the content.
• Compliance declaration: The Regulations require a declaration by the fund's operator, as part of the return, confirming compliance with sections 16 (valuation), 17 (safekeeping of fund assets) and 18 (cash monitoring) of the Private Funds Act, but only where the fund has received capital contributions for investment purposes.

Key obligations

• A private fund must submit to CIMA an annual return in the form set out in the Schedule in respect of each financial year of the fund.
• The annual return must include operating and financial information (Parts B and C of the form) for each alternative investment vehicle (unless separately registered as a private fund) and each sub-fund of the private fund.
• The annual return must include specified general information (Part A, paragraph 14) about the private fund's related fund entities, including those registered as private funds.
• The private fund must submit the annual return to CIMA within six months after the end of the financial year to which it relates, or within any extension allowed by CIMA.
• When completing the annual return, the private fund must have regard to any explanatory material issued by CIMA in respect of the private fund.
• If submitted through an auditor or other designated person, that person must submit each duly completed return received from the operator in a timely manner.
• A private fund that has received capital contributions for investment purposes must confirm in the annual return that it has complied with sections 16 to 18 of the Private Funds Act (valuation, safekeeping of fund assets, and cash monitoring), including a signed declaration by the operator.
• A private fund must pay the prescribed fee for submitting an annual return (US$300 base fee, plus US$150 for each alternative investment vehicle or sub-fund reported, up to a maximum of 25).

Applies to

private funds, alternative investment vehicles, sub-funds, related fund entities, fund operators, fund auditors

Deadlines

• within six months after the end of the financial year to which it relates: Deadline for a private fund to submit its annual return to CIMA, unless CIMA allows an extension.

Related documents

• Private Funds (Annual Returns) (Amendment) Regulations, 2024 (SL 73 of 2024) amends this document
• Private Funds (Annual Returns) (Amendment) Regulations, 2025 (SL 69 of 2025) amends this document
• Private Funds (Annual Returns) Regulations (2026 Revision) replaces this document