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Private Equity Magazin

The magazine for private equity-professionals | Private Funds • M&A • Tax

Obligations of fund managers (AIFMs) for the year 2023

In the following, we have compiled the most important ongoing reporting and publication obligations for AIFMs.

Private Funds

by Tarek Mardini, POELLATH, Dr. Stephan Schade, POELLATH, Dr. Philip Schwarz van Berk, POELLATH, Dr. Tobias Lochen, POELLATH, Dr. Robert Eberius, POELLATH, Dr. André Blischke, POELLATH, Antonia Nabavi, POELLATH
19 January 2023
Obligations of fund managers, Obligations of AIFMs, reporting requirements, reporting, annual report
Source: kalafoto/AdobeStock

Please note that as of April 1st 2023 communication with the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) must be largely carried out via the electronic reporting and publishing platform (MVP Portal) provided by BaFin (Section 7b of the German Capital Investment Act, “KAGB”).

Reporting obligations and currently applicable deadlines

Key Information Document (PRIIPs KID)

All Key Information Documents must comply with the requirements of the new Regulatory Technical Standards (RTS) from January 1st 2023.

BaFin Reporting

The AIFM must regularly submit reports to BaFin via the MVP portal. Data must be provided on the AIFM and for each managed AIF. This includes, among other things, information on the main features of the respective product, in particular the risks, reward profile and costs associated with it.

  • January 31st (during reporting period 01/01 – 12/31)
  • Reports are to be submitted quarterly, semi-annually or annually, depending on the amount of AUM (value of AuM), one month after the end of each reporting period.

Bundesbank Reporting

Investment funds (i.e., in particular AIFs) must submit (monthly) reports to the German Federal Bank (Deutsche Bundesbank) for recording purposes. The reports must contain, among other things, information on the amount and composition of the AIFs assets.

  • Monthly reporting by the 5th business day of the following month: one-time, general information for each AIF
  • One-time reporting for each AIF

Audit of annual financial statements and management report by an auditor

Applies to fully regulated and registered AIFMs, not to EuVECA managers!

  • Must appoint an auditor and notify BaFin (immediately after appointment)
  • Nine months after the end of the financial year: reporting of the auditor’s results to BaFin

FATCA / CRS Reporting

Particularly, identification and reporting requirements to the Federal Central Tax Office (Bundeszentralamt für Steuern, BZSt)

  • July 31st: Annual report to the BZSt for the previous year

Submission of the Annual Report

Applies only to fully regulated and foreign AIFMs, as well as to EuVECA managers!

  • Six months after the end of the fiscal year: Submission to BaFin

 

Read more about this topic

Further information on the regulation of German asset management companies (BaFin)

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