Important Update on Form N-PORT Compliance Deadlines
These amendments affect certain registered investment companies, including open-end funds, closed-end funds, and unit investment trusts.
Revised Compliance Dates
- Larger fund groups: Extended from November 17, 2025, to November 17, 2027.
- Smaller fund groups: Extended from May 18, 2026, to May 18, 2028.
View the full amendments and updated compliance timeline here.
Overview of the Amendments
The amendments to Form N-PORT are designed to enhance the quality and timeliness of portfolio reporting for registered funds. The key changes include:
- Increased reporting frequency: Funds will be required to file monthly Form N-PORT reports with the SEC within 30 days of each month-end.
- Public disclosure: These monthly reports will become publicly available after a 60-day delay, improving transparency for investors.
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Expanded reporting requirements:
- enhanced data fields related to entity identifiers
- mandatory disclosure of service providers used to support a fund’s liquidity risk management program (for open-end funds).
Current vs. Amended Requirements
Currently, registered management investment companies and ETFs organized as unit investment trusts are required to submit Form N-PORT reports quarterly. These reports are due 60 days after the end of each quarter, and only data from the third month is made public – the first and second months remain confidential.
Under the amended rule, funds will submit monthly data, providing the SEC and investors with more timely and comprehensive insight into a fund’s:
- portfolio holdings
- liquidity and leverage
- counterparty exposures
- investment risks.
These changes are intended to strengthen investor protections and facilitate the SEC’s oversight of fund risk profiles.
How Waystone can help
Waystone Compliance Solutions’ dedicated team of US compliance specialists has extensive experience in assisting firms with their SEC reporting obligations. If you require more information on this topic or are interested in learning about our regulatory filing services, please reach out to your usual Waystone representative, or contact us below.