Annex IV reporting for UK Funds

On January 1st 2021, the Brexit transition period came to an end, which meant that all UK domiciled Alternative Investment Funds (‘AIFs’) and Alternative Investment Fund Managers (‘AIFMs’) are now treated as “third-country” for the purpose of the Alternative Investment Fund Managers Directive (‘AIFMD’).

Previously, for UK domiciled AIFMs and AIFs Annex IV reporting was only required to be filed with the FCA as the home regulator. However, since the end of the transition period, any UK AIFs that have investors from EU jurisdictions which were marketed to under AIFMD must now submit Annex IV reports to every country from which they have accepted subscriptions (except where there has been genuine reverse solicitation).

There is no harmonised system for completing and filing these reports across the EU, rather each regulator has its own reporting portal with various nuances in reporting format and process. This reporting burden often falls to fund finance or compliance teams who may be unfamiliar with the reporting process, which will be required for all AIFs by 31st January 2022, and potentially as often as quarterly thereafter depending on the requirements.

Langham Hall has been completing Annex IV reporting for non-EU AIFMs and AIFs since 2014. We prepare and file hundreds of annex IV reports each year and are familiar with each regulator’s reporting portal. Langham Hall is able to set up the portal access for each country, and complete and file these Annex IV reports in the relevant formats required by each regulator. We file these reports directly with the regulator with minimal involvement required from the fund manager