CIMA Announces Private Funds Filing Extension

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[co-author: Jennifer Marshall]*

The Cayman Islands Monetary Authority (CIMA) recently announced that the deadline for filing audited accounts and the requisite Annual Return Form (“Form”) in accordance with the Private Funds (Annual Returns) Regulations, 2021 (the “Regulations”) has been extended to 30 September 2021.

Annual Return Form in Development

CIMA has advised that the Form required to be filed with audited accounts under the Regulations is still in the process of being developed and is not currently available. It is for this reason that CIMA has announced the filing extension. A further notice will be issued upon CIMA’s release of the Form, however, it is anticipated that the Form will be available by 30 June 2021. In the interim, private funds will not be subject to related penalties for non-compliance with section 13 of the Private Funds Act (2021 Revision).

 

*Senior Knowledge Specialist

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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