IRELAND: CBI Reporting requirements of Irish Authorised Investment Funds

Wednesday May 11 2022

The Central Bank of Ireland has published Guidance Notes on Reporting requirements of Irish Authorised Investment Funds. The purpose of this Guidance is to provide information and direction on the completion of the Fund Profile V2 return. Fund Profile V2 was introduced in Q2 2022 to replace the previous iteration of the Fund Profile return first introduced in 2018. The Fund Profile V2 return now replaces both the Fund Profile return and the Annual Investment Fund Sub-Fund Profile return. The Fund Profile V2 return will require completion:

• on the approval / authorisation of a new Sub-Fund / Standalone Fund (collectively the “Sub-Fund”); and
• annually, to confirm the Sub-Fund’s profile and update for changes reflected in the Sub-Fund’s offering documents since the last update.

When a Sub-Fund is authorised / approved (“authorised”) in Ireland, there is now a requirement to complete a Fund Profile V2 return within 10 working days of the Sub-Fund’s authorisation. The Fund Profile V2 return is made through the Central Bank’s Online Reporting (“ONR”) portal.

On an annual basis, the Fund will be required to review each Sub-Fund’s profile. Any changes to Offering Documents since the last review of the Sub-Fund’s profile should be updated and the return submitted to the Central Bank via the Central Bank’s ONR portal.

The previously scheduled Fund Profile return and Annual Investment Sub-Fund Profile return were deleted from the Central Bank’s ONR portal as it is no longer required to be completed. Access to past Fund Profile returns and Annual Investment Sub-Fund Profile returns remains.

Click on the above link for further information.