TryPipelineHealth Check

Rules we track

Every rule an Annex IV return has to meet, and the dates coming up. The links go to the regulators' own pages, so you're always reading the current text.

What's changing

  1. 16 Apr 2026AIFMD II applies across the EU.
    Directive (EU) 2024/927
  2. 14 Oct 2026Comments close on HM Treasury's draft AIFM Regulations, which would replace the UK's 2013 rules.
    Draft SI and policy note
  3. 22 Oct 2026Two FCA consultations close: FRAME, the new fund reporting regime, and the new UK AIFM regime.
    CP26/26 FRAMEPDF CP26/28 UK AIFM regimePDF
  4. End of 2026The FCA aims to publish prototype FRAME forms for firms to test.
  5. 31 Dec 2026Denmark: the first Annex IV returns are filed through the new e-Reg system, replacing FIONA.
    Finanstilsynet notice
  6. First half of 2027The FCA expects to publish final FRAME rules.
  7. 1 Jul 2027US: the 2024 Form PF amendments take effect, after the SEC and CFTC moved the date in August 2026.
    SEC release IA-6992PDF
  8. 2028The FCA aims to have FRAME fully in place. It may bring in the lighter reporting for funds under £500m NAV before the end of 2027.

EU and UK rules

European Union

AIFMDDirective 2011/61/EU
The EU framework for managers of alternative investment funds.
Official text
In force, amended by AIFMD II
AIFMD IIDirective (EU) 2024/927
Changes to delegation, liquidity tools, loan origination and reporting.
Official text
Applies from 16 Apr 2026
AIFMD Level 2Delegated Regulation (EU) 231/2013
The detailed rules, including the Annex IV reporting templates.
Official text
In force
ESMA reporting guidelinesESMA/2014/869
How to complete Annex IV and how often to file.
GuidelinesPDF
In force
ESMA IT technical guidanceRevision 6, with XML schemas
The file format the regulators accept.
ESMA page
Applies since 22 Nov 2023

United Kingdom

UK AIFM RegulationsSI 2013/1773
The UK rules implementing AIFMD.
Official text
In force, under reform
UK Level 2 rulesAssimilated Regulation 231/2013
The UK version of the Annex IV templates.
Official text
In force, under reform
FCA Handbook FUND 3.4Reporting to the FCA
What a UK AIFM must report, and when.
Handbook
In force, under reform
FCA AIFM reportingFiling through RegData
How UK AIFMs submit Annex IV returns.
FCA page Annex IV guide (2017)PDF FCA XML schema v2 (AIF002)
Current guidance

Open and recent consultations

FRAMEFCA CP26/26
A single, size-tiered reporting regime for UK fund managers.
Consultation Full paperPDF
Closes 22 Oct 2026
The UK AIFM regimeFCA CP26/28
New FCA rules for UK AIFMs, with small, medium and large tiers.
Consultation Full paperPDF
Closes 22 Oct 2026
Draft AIFM RegulationsHM Treasury
The draft law that would replace the 2013 UK AIFM Regulations.
Draft SI and policy note
Comments close 14 Oct 2026
AIFM Regulations consultationHM Treasury, 2025
The Treasury's first consultation on reforming the UK regime.
Consultation
Closed 9 Jun 2025

National regulators

Where each regulator takes Annex IV returns, and its rules for managers from outside the EU.

LuxembourgCSSF
Annex IV returns filed as XML through eDesk or the S3 API.
Reporting Technical guidancePDF Marketing by non-EU managers Law of 12 July 2013PDF
AIFMD II transposed, March 2026
IrelandCentral Bank of Ireland
AIFM and AIF returns filed through the Central Bank Portal.
Reporting Reporting guidancePDF Marketing rules S.I. 257/2013
AIFMD II transposed by S.I. 181/2026
NetherlandsAFM
Reports filed through the AFM Portal.
Reporting Portal manualPDF AIFMD II update
AIFMD II update for non-EU funds, April 2026
FranceAMF
AMF position DOC-2014-09 sets out how AIFMs report.
DOC-2014-09 Marketing guide AIFMD II status
AIFMD II not yet transposed when last reported by the AMF
GermanyBaFin
Annex IV returns filed as XML through the MVP Portal.
Reporting notice MVP Portal reporting Marketing by non-EU managers
AIFMD II changes in force from April 2026
SwedenFinansinspektionen
Returns filed as XML through Fidac, one month after period end.
Reporting Non-EEA managers AIFM Act
AIFMD II in force 2 July 2026
DenmarkFinanstilsynet
Annex IV reporting is moving from FIONA to e-Reg.
Move to e-Reg Annex IV reporting Third-country funds
First e-Reg filing 31 December 2026
NorwayFinanstilsynet
Annex IV returns filed through Altinn, one month after quarter end.
Annex IV for non-EEA managers Authorisation
In force

Fund domiciles

Where many UK and European private equity funds are set up.

JerseyJFSC
Jersey Private Funds. Jersey AIFMs file copies of their AIFMD reports with the JFSC.
Private Fund Guide AIFMD FAQs
Guide revised 13 April 2026
GuernseyGFSC
Private Investment Funds, and Guernsey's regime for marketing into Europe.
Private Investment Funds AIFMD regime
In force
Cayman IslandsCIMA
Private funds file an annual return and audited accounts within six months of year end.
Private Funds ActPDF Reporting requirements
Private Funds Act, 2025 Revision

United States

For US managers who also market funds into the UK and Europe.

Form PFSEC and CFTC
Confidential reporting by private fund advisers, filed through the PFRD system.
Form PF 2024 amendments Date extensionPDF Filing on PFRD
2024 amendments apply from 1 July 2027
Form ADVSEC
Registration and disclosure form for investment advisers.
Form ADV
In force

This is a reading list. It isn't legal advice. Last checked 1 October 2026. If a link has moved, let us know at founders@trypipeline.io.