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ARTICLE · 07 NOVEMBER 2019

Exempt Distribution Reporting Requirements For Investment Funds: What's New This Year?

Borden Ladner Gervais LLP
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​January 30, 2020 is the deadline for investment funds to file a Report of Exempt Distribution without penalty for private placements completed between January 1, 2019 and December 31, 2019.

CanadaCorporate/Commercial Law
Rebecca Cowdery
Rebecca Cowdery
Sarah Gardiner
Sarah Gardiner
John P. Stanley
John P. Stanley
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January 30, 2020 is the deadline for investment funds to file a Report of Exempt Distribution without penalty for private placements completed between January 1, 2019 and December 31, 2019.

Managers of investment funds that have issued securities to Canadian residents during 2019 under certain prospectus exemptions should circle Monday, January 30, 2020 in red ink on their compliance calendars. This is the deadline for investment funds to file a Report of Exempt Distribution, using Form 45-106F1 and the accompanying Schedule, without penalty for private placements completed between January 1, 2019 and December 31, 2019.

A fund must file such a report for the full calendar year of 2019 by January 30, 2020 if it has issued securities to investors using any of the following prospectus exemptions set out in National Instrument 45-106 Prospectus Exemptions and section 73.3 of the Securities Act (Ontario): (i) the accredited investor, (ii) minimum purchase amount, or

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