Why 2026 Is a Reset Year for AIF Compliance Calendars
SEBI's circular dated March 4, 2026 restructured AIF reporting from a purely quarterly cycle to an Annual Activity Report plus a lighter Quarterly Activity Report — meaning most AIF compliance calendars built before this date need updating.
SEBI Regulatory Reporting
Annual Activity Report
- Covers the full financial year
- Filed on the SEBI Intermediary (SI) Portal within 30 calendar days of March 31
- First report under the new regime (FY 2025-26) due by 31 May 2026
Limited Quarterly Activity Report
- Filed for the June, September, and December quarters only
- Due within 15 calendar days of each quarter-end
- No separate filing required for the March quarter (captured in the Annual Activity Report)
Financial Statement and Audit Timelines
- Annual audit of fund financial statements, typically aligned with the financial year-end
- Investor-level capital account statements finalised post-audit
- Valuation of unlisted holdings refreshed at least at each reporting date required under SEBI valuation norms
Tax Compliance Deadlines
- Advance tax instalments through the financial year, as applicable to the fund's entity type
- Annual income tax return filing
- Issuance of pass-through income statements to investors (Category I/II AIFs), ahead of investors' own return filing deadlines
- TDS/withholding compliance on distributions, on an ongoing basis through the year
FEMA Reporting (Where Applicable)
- Reporting of foreign investment received, within prescribed timelines from receipt/allotment
- Annual FEMA-related returns applicable to funds with foreign investors or outbound investments
Investor Communication Milestones
- Periodic NAV disclosures per the PPM's stated frequency
- Annual audited financials shared with investors
- Any subsequent closing notices and catch-up contribution calls, as they arise
Building a Fund-Specific Calendar
A generic calendar is a starting point, not a substitute for one built around your specific PPM terms, financial year-end, and investor base. We build and maintain compliance calendars for AIF clients, tracking both the fixed regulatory dates above and fund-specific milestones like closing windows and NAV disclosure schedules.
This article reflects the regulatory position as of the article's publish date. AIF compliance requirements change frequently — please confirm current deadlines with us before relying on this calendar.