SEBI has revised the requirement of AIF (Alternate Investment Funds) to submit their activity reports. This move is aimed to improve ease of doing business and was recommended by a working group of SEBI.
Comprehensive Annual Filing
Presently, AIFs are required to submit a quarterly activity report within 15 calendar days of the end of each quarter. Going forward, AIFs will be required to submit a comprehensive annual activity report at the end of every financial year on the SEBI Intermediary Portal within 30 calendar days from the end of March of every financial year. For the present financial year, AIFs are required to submit the annual activity report by May 31, 2026.
AIFs are also required to submit a limited quarterly activity report for each quarter except for the quarter ending March whose data will be published in the annual report. The quarterly report has to be submitted within 15 days from the end of each quarter (except the March quarter).
Streamlined Quarterly Compliance
The revised reporting formats for the submission of reports will be available for AIFs on the website of IVCA (Indian Venture and Alternate Capital Association) within 3 days. The regulator has also directed IVCA to assist all AIFs in understanding the reporting requirements and in clarifying or resolving any issues that may arise in connection with reporting to ensure accurate and timely reporting.