Notice
Further to the Cayman Islands Monetary Authority's (the "Authority") industry notice dated 31 December 2025, and to assist fund industry stakeholders in better understanding the implications of the fee revisions recently introduced by the Cayman Islands Government, please refer to the following information:
Amendments to Fee Amount
Effective 1 January 2026, the Annual Return Fee applicable to funds and/or sub-funds and/or alternative investment vehicles ("AIV") regulated under the Mutual Funds Act (as revised) or under the Private Funds Act (as revised) has been updated.
The following revised annual and sub-fund fee amounts now apply:
- The existing Annual Fee for registered funds has increased from $3,675 to $4,125.
- The existing Annual Fee for Master Funds has increased from $2,625 to $3,075.
- The existing sub-fund fee for registered mutual funds has increased from $300 to $750 per sub-fund.
- The existing sub-fund or AIV fee for registered private funds has increased from $300 to $525 per sub-fund or AIV.
Annual Return Fees relating to financial years ending on or before 31 December 2025 will continue to be assessed at the pre-revised rates (i.e., $300 or $150, as applicable).
For the 2026 calendar year, the fees will appear as separate payments to clearly show the breakdown between the base annual fee and the incremental fee increase, due to timing differences between the release of the Annual Fee on the Authority's Regulatory Enhanced Electronic Forms Submission ("REEFS") portal and the subsequent Government approval of the revised Annual Fee. These details are now reflected on the REEFS portal under the respective account profiles. Effective 1 January 2027, the fees will appear as a single consolidated payment on REEFS.
Timing and Application of Fees
Under the revised framework, the deadline for annual fee remains unchanged and continues to fall on 15 January each year. Sub-fund/AIV fees remain separate from the annual fee and must continue to be paid in accordance with current procedures.
Fees Already Remitted
Entities are reminded that the statutory deadline for remittance of the pre-revised annual fee was due on 15 January 2026. Regulated funds that have already submitted payment should ensure that the full revised annual fee ($4,125 or $3,075, as applicable), together with any applicable sub-fund/ AIV fees, has been paid.
Where the amount already remitted is less than the applicable fee obligation under the revised framework, funds are expected to settle the outstanding balance by 15 February 2026.
Penalty Arrangements
The Authority advises that no penalties will be assessed on the unpaid incremental fee increases until after 15 February 2026. Failure to remit all applicable fees in full by that date will result in non-compliance and the assessment of penalties in accordance with the relevant legislation.
Further Information
Entities seeking clarification regarding the revised fee framework, specifically for investments-related fees, may refer to the Authority's fee schedule or email ContactInvestments@cima.ky. Additional guidance will be issued as required.
Launch of Prudential Information Survey for Registered Persons
The Cayman Islands Monetary Authority (the “Authority”) hereby advises that all entities registered as Registered Persons are required to submit the Prudential Information Survey (ADR-046-75-02) for the 2025 calendar year, covering the reporting period 1 January 2025 to 31 December 2025, via the Regulatory Enhanced Electronic Forms Submission (REEFS) portal.
The Prudential Information Survey will be available for completion from 1 January 2026 to 31 March 2026.
This survey is issued pursuant to section 6(b)(i) of the Monetary Authority Act (2020 Revision) and forms part of the Authority’s ongoing supervisory programme. The information collected will assist the Authority in assessing sector-specific activities, exposures, and associated risk areas for Registered Persons operating in or from within the Cayman Islands. The data obtained will support the Authority’s efforts to enhance the resilience, transparency and prudential soundness of the securities investment business sector.
Registered Persons are encouraged to review the Guidance for Registered Person Prudential Information Survey, which provides technical assistance and additional guidance on the completion of the survey. For further queries, Registered Persons may contact the Securities Supervision Division at contactsecurities@cima.ky.
The Authority further advises that the introduction of the Prudential Information Survey does not replace the requirement for Registered Persons to submit the Annual Declaration (ADR-046-75). The Annual Declaration will be available on REEFS from 1 January 2026 to 15 January 2026, covering the same reporting period of 1 January 2025 to 31 December 2025.
The Authority emphasises the importance of the timely completion and accuracy of all information provided in both the Annual Declaration and the Prudential Information Survey.
RELEASE OF VASP FINANCIAL RETURNS FORM IN REEFS
The Cayman Islands Monetary Authority (the "Authority") hereby advises that the VASP Financial Returns Form referenced as VFR-051-84 (the "Form") will be available on 1 December 2025 via the Regulatory Enhanced Electronic Forms Submission system ("REEFS").
In accordance with Section 24 (1)(c) of the Virtual Asset (Service Providers) Act (2024 Revision) establishes the requirement for Virtual Asset Service Providers (VASPs) to submit periodic financial returns to the Authority using the Form via REEFS.
The deadline for the first filing of completed Form is 31 December 2025, covering the reporting period ending 30 September 2025.
Should you require any assistance regarding the new form or the VASP application process, please refer to the Completion Guide available on the REEFS Forms Guidance Notes page. Alternatively, please contact the Authority via email at vaspinfo@cima.ky.
Contact Emails For CIMA Regulatory Divisions
Matters of a regulatory nature such as REEFS field data requirements and validation errors should be sent to the respective divisions, where appropriate persons have been assigned to handle such requests. Below is a list of designated email addresses, which users can refer to when reporting regulatory issues:
- Banking Supervision Division - REEFS_Banking@cima.ky
- Compliance Division - REEFS_Compliance@cima.ky
- Fiduciary Services Division - REEFS_Fiduciary@cima.ky
- Insurance Supervision Division - REEFS_Insurance@cima.ky
- Investments Supervision Division - REEFS_Investments@cima.ky
- Policy & Development Division - REEFS_Policy@cima.ky
- Securities Supervision Division - REEFS_Securities@cima.ky
- VASP Supervision Division - REEFS_VASP@cima.ky
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TMF-147-22 v2 and TRS-142-99 v2
3 November 2025
NOTICE
RE: Upcoming updates to Mutual Fund and Private Fund De-Registration Forms
The Cayman Islands Monetary Authority (the “Authority”) advises industry stakeholders that updates to the forms used to submit mutual fund and private fund de-registrations within the REEFS portal will take effect on 8 November 2025.
These updates are part of the Authority’s ongoing efforts to streamline the de-registration process and enhance the accuracy and completeness of submissions made through REEFS.
Effective 8 November 2025, the following updated forms will be introduced:
- TMF-147-22 v2 Form (Termination of a Mutual Fund or Private Fund) – supersedes the existing
- TMF-147-22 Form and expands its scope to include both mutual funds and private funds.
- TRS-142-99 v2 Form (Termination of a SP or Series Trust or Sub-Fund) - supersedes the existing TRS-142-99 Form and expands its scope to include private fund sub-funds and alternative investment vehicles (“AIVs”) (where the AIV is not separately registered as a private fund).
From the effective date, all de-registration applications must be submitted via REEFS using the new forms. Incoming submissions of private fund (including their related sub-fund and AIV) de-registration applications via email to Terminations@cima.ky will no longer be accepted.
The updated forms have been developed to align more closely with the Regulatory Procedure – Cancellation of Licences or Certificates of Registration for Regulated Mutual Funds and the Regulatory Procedure – Cancellation of Certificates of Registration for Registered Private Funds (together referred to as the “Cancellation Procedures”).
These enhancements are intended to increase process efficiency, improve the accuracy and completeness of submissions, and promote greater consistency across both mutual and private fund de-registrations.
Transition Period (8–20 November 2025)
To support ongoing applications, the following transitional arrangements apply:
A. Mutual Fund and Private Fund De-registrations
- Applications currently in progress (i.e., submitted using the original TMF-147-22 Form with an associated REEFS Request ID) may continue to be resubmitted using the original form until 20 November 2025, provided they are submitted under the same REEFS Request ID.
- Applications not resubmitted on or before 20 November 2025 will be invalidated and considered withdrawn. A new submission will then be required using the new TMF-147-22 v2 Form.
- Private fund de-registration applications submitted via email before 8 November 2025 need not be resubmitted using the new form. However, if such applications are denied, a new submission must be made using the new TMF-147-22 v2 Form.
- B. Sub-fund and AIV De-registrations
- Applications currently in progress (i.e., submitted using the original TRS-142-99 Form with an associated REEFS Request ID) may continue to be resubmitted using the original form until 20 November 2025, provided they are submitted under the same REEFS Request ID.
- Applications not resubmitted on or before 20 November 2025 will be invalidated and considered withdrawn. Any new submissions thereafter must use the new TRS-142-99 v2 Form.
- Private fund sub-fund and AIV de-registration applications submitted via email before 8 November 2025 need not be resubmitted; however, if such applications are denied, a new submission must be made using the new TRS-142-99 v2 Form. For additional information or queries, please contact Terminations@cima.ky.