The Cayman Islands Monetary Authority ("CIMA") has
released the form for completing Fund Annual Returns
("FAR"). The FAR is a Microsoft Excel-based tool
through which CIMA captures general, operating and financial
information relating to regulated funds. It is required to be
filed annually alongside the audited financial statements within
six months after the financial year-end.
While the local Cayman Islands auditor or other designated
persons files the FAR on behalf of the fund, the fund operator,
which includes directors, trustee or general partner, is ultimately
responsible for completing the FAR.
Due to delays in the release of FAR, the deadline for filing of
a private fund's audited accounts and the form has been
extended to 30 September 2021. In the interim, private funds
will not be subject to any related penalties for non-compliance
with section 13 of the Private Funds Act (2021 Revision)
