The Fund Annual Return (FAR) is an Excel-based filing through which the Cayman Islands Monetary Authority (CIMA) collects general, operating, and financial information about registered funds each year. It applies to Cayman Islands-domiciled funds registered under the Mutual Funds Act or the Private Funds Act, and must be filed within six months of the fund’s financial year end.
What the Fund Annual Return (FAR) covers
The FAR captures general fund information, operating details, related fund entity data, and financial information, and is submitted alongside the fund’s audited financial statements and an operator declaration. Filings are made through CIMA’s online portal, the Regulatory Enhanced Electronic Forms Submission system, known as REEFS.
Which funds must file
Both open-ended mutual funds registered under the Mutual Funds Act and closed-ended private funds registered under the Private Funds Act with CIMA are subject to the FAR filing requirement. A newly launched fund’s first reporting period can extend up to 18 months from the commencement of operations, aligning with its initial audit period.
Who is responsible for filing
The fund’s Cayman Islands-based auditor or another designated person typically submits the FAR through REEFS. However, the ultimate responsibility for its accuracy and completeness rests with the fund operator, that is its directors, general partner, or trustee, depending on the fund’s structure. Closed-ended funds that are not yet trading, or that report over an extended initial or final period, must still submit a declaration or waiver rather than simply omitting the filing.
Deadline and fees
The FAR is due no later than six months after the end of the fund’s financial year, filed together with its audited financial statements. CIMA has periodically updated its fee structure for fund filings, so operators should confirm the current fee arrangement applicable to their fund’s reporting period each year.
The FAR sits alongside a fund’s Registrar filings, so fund operators need to track both the CIMA and General Registry compliance calendars each year.
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wb.group supports fund operators with Fund Annual Return preparation and CIMA filings. Contact us to coordinate your fund’s annual compliance.
FAQs
The Fund Annual Return (FAR) is an Excel-based filing through which the Cayman Islands Monetary Authority (CIMA) collects general, operating, and financial information about registered funds each year. It applies to Cayman Islands-domiciled funds registered under the Mutual Funds Act or the Private Funds Act, and must be filed within six months of the fund’s financial year end.
It is an Excel-based annual filing through which the Cayman Islands Monetary Authority collects general, operating, and financial information about registered mutual funds and private funds, submitted alongside audited financial statements.
Funds registered with CIMA under the Mutual Funds Act or the Private Funds Act must file a FAR annually, whether the fund is open-ended or closed-ended.
No later than six months after the end of the fund’s financial year, though a newly launched fund’s first reporting period may extend up to 18 months from the commencement of operations.
The fund operator – its directors, general partner, or trustee depending on structure – bears ultimate responsibility, even though the fund’s Cayman Islands auditor typically submits the filing through REEFS on the fund’s behalf.