Business
Sebi revises reporting norms for AIFs, introduces annual activity report
In a circular issued on March 4, the regulator said AIFs are currently required to submit activity reports on a quarterly basis within 15 calendar days from the end of each quarter, in a format hosted by the Indian Venture and Alternate Capital Association (IVCA).
Sebi noted that the reporting format had been reviewed to incorporate changes made to the AIF Regulations and related circulars.
The move is also aimed at improving ease of doing business and reducing compliance costs. The regulator said the frequency of submitting reports had been reviewed in consultation with the Standards Forum of AIFs, and that a Sebi-constituted working group.
Under the revised framework, AIFs will now be required to submit a comprehensive Annual Activity Report at the end of March each financial year. The report must be filed online on the Sebi Intermediary Portal (SI Portal) within 30 calendar days from the end of March. The first annual report will cover the year ending March 2026 and must be submitted by May 31.
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In addition, AIFs will continue to submit a limited Quarterly Activity Report in a revised format within 15 calendar days from the end of each quarter. The first such quarterly report under the new system will be for the quarter ending June 2026. However, no separate quarterly submission will be required for the March quarter, as the annual report will include those data points.
The revised reporting formats will be made available on the IVCA website within three days of the circular’s issuance, and the association will assist AIFs in understanding the new requirements and resolving reporting-related issues. The changes come into force with immediate effect.