Audit and FAR filing Deadline Extended for Cayman Islands Private Funds
In its recent client alert, Harneys advised of two new filings for private funds - the Fund Annual Return (FAR) and the declaration of no capital contributions.
CIMA have advised they expect to release the private funds FAR form by 30 June 2021. Accordingly, the deadline for filing both the FAR form and the audited financial statements has been extended to 30 September 2021 for all private funds with a financial year end of 31 December 2020 or earlier.
Please note that this FAR form and audit extension only applies to private funds. The FAR form and audited financial statements filing deadline remains the same (six months after the financial year end) for those funds registered with CIMA under the Mutual Funds Act.
Please also note that those private funds that have not yet received capital contributions from investors are not required to file a FAR form or audited financial statements with CIMA. Instead they must file a declaration of no capital contributions within six months of their financial year end and this deadline has not been extended.
The CIMA press release can be found here. For further information please contact your usual Harneys representative or visit harneys.com/Cayman.