Fund Annual Returns: Cayman Islands

Private Funds

Cayman Islands Private Funds – Fund Annual Return Services

The introduction of the Cayman Islands Private Funds Act (PFA) has brought with it a set of meaningful compliance obligations for private fund operators. Among the most important of these is the requirement to submit a Fund Annual Return (FAR) to the Cayman Islands Monetary Authority (CIMA) on an annual basis.

Regulatory Background

All private funds registered with CIMA are required to submit a FAR Form in accordance with the Private Funds (Annual Returns) Regulations. The FAR serves as the primary mechanism through which CIMA collects general, operating and financial information from fund operators. The FAR Form, together with the fund's audited financial statements, must be submitted via CIMA's Regulatory Enhanced Electronic Forms Submission (REEFS) system within six months of the fund's financial year end.

It is important to note that while the filing is typically executed by the fund's local auditor or another designated party, the fund operator, whether the directors, trustee, or general partner, bears ultimate responsibility for the completeness and accuracy of the return. Funds that have not received capital contributions during the relevant financial year are exempt from filing a FAR for that period, though they remain obligated to submit a formal declaration to that effect.

Our Services

We provide comprehensive FAR preparation services designed to support private fund operators in meeting their CIMA obligations efficiently and accurately. Our services encompass:

• Initial onboarding

• Preparation of the FAR Form

• Submission of the FAR form directly or via the fund's auditor

• Ongoing consultation and guidance

Our team brings a thorough understanding of the FAR requirements and the broader financial statement preparation process. We are committed to delivering a high quality, timely service that keeps your fund in good standing with CIMA, while allowing you to remain focused on your core investment management activities.

Contact Us

To learn more about how we can support your fund's annual return obligations, please do not hesitate to contact our team. We welcome the opportunity to discuss your fund's specific circumstances and how our services can be tailored to meet your needs.

Please reach out to paul.young@anomalyinternational.com to discuss further.