The Cayman Islands Monetary Authority (the “Authority”) is advising of a change to the Audit Extension Applications through the REEFS portal. Effective 6 May 2025, the current Fund Extension application form, FXT-162-22-02, has been replaced with a new form, FXT-162-22-03. This enhancement is designed to facilitate multiple extension requests (up to three months) per Fund within one application via REEFs. These changes ensure a more efficient extension process for both Mutual and Private Funds.

Funds which qualify for multiple extensions may submit the same using form FXT-162-22-03.  Existing eligibility criteria remains the same as follows:

1. The fund must have no prior outstanding audited financial statements;
2. The fund must submit the relevant supporting documentation – i.e. letter from the fund’s auditor explaining the reason for the delay; and
3. The fund must submit the relevant application fee of KYD $625 per month.

Important Transition Information:

1. All new fund extension applications from 6 May 2025 onwards must be submitted using the form FXT-162-22-03 via the REEFs portal.
2. Applications that are In-Progress as of 6 May 2025 can still be submitted using the existing FXT-162-22-02 form but must be submitted before 5:00pm on 11 May 2025, after which the application must be resubmitted using FXT-162-22-03.  Any application that is In-Progress as of 12 May 2025 will be considered as invalid and no longer available.

Should you require any assistance regarding the new form or the Fund extension process, please refer to the Completion Guide available on the CIMA website and attached for ease of reference.

For further information or queries, please contact .