SEC Staff Updates FAQs on Upcoming Fund Reporting Changes to Address Form N-SAR Filing Obligations

May 11, 2018

The staff of the SEC Division of Investment Management (the “IM staff”) recently updated its frequently asked questions and answers (“FAQs”) document related to the investment company reporting modernization reforms adopted in October 2016 and revised in December 2017.

Form N-SAR is scheduled to be rescinded on June 1, 2018. The updated FAQs document indicates that, if a fund’s fiscal year falls on October 31 or November 30 (and its mid-year falls on April 30 or May 31, 2018), the IM staff would not expect a fund to file a separate mid-year report on Form N-SAR for the mid-year period ending on April 30 or May 31, 2018 (which report would be due 60 days after the fund’s fiscal mid-year, after Form N-SAR is scheduled to be rescinded).


Compliance, Investment Advisers, Investment Companies, Mutual Funds, Regulatory