Reporting Requirements

Commodity pool operators (CPO) have the following reporting requirements:

Account Statements

With few exceptions, each CPO Member must distribute monthly or quarterly account statements to pool participants within 30 days of month-end or quarter-end:

• For pools with net asset value of more than $500,000, CPO Members must distribute monthly account statements.
• For pools with net asset value less than $500,000 or exempt pools under CFTC Regulation 4.7, CPO Members must distribute quarterly account statements.

Annual Reports and Liquidation Statements

With few exceptions, each CPO Member must distribute an Annual Report, certified by an independent public accountant, to pool participants within 90 days of the pool's fiscal year-end or the permanent cessation of trading, whichever is earlier. CPOs are also required to file this report with NFA using EasyFile. In order to file a liquidation statement, a CPO Member must promptly enter the date the pool ceased trading in the Annual Questionnaire.

CPOs can monitor their filings and review their due dates for each pool in EasyFile system. Requests for statements are not generated for pools designated as master funds in the Annual Questionnaire. Instead, statements for master funds are submitted with their respective feeder fund statements.

If a CPO is operating a pool under an umbrella-series structure and elects to file the Annual Report at the umbrella level, data should not be entered into the series-level filings. After the firm submits the umbrella filing, EasyFile will automatically indicate that the series-level filings have been received. The same is true for the umbrella filing if the firm elects to file at the series level.

CPO Members may request confidential treatment of its commodity pool Annual Reports that are filed with NFA.

Extension Requests

CPOs must comply with the due dates referenced in EasyFile or request an extension pursuant to CFTC Regulation 4.22(f)(1). Any extension request must be filed with NFA prior to the report's original due date. However, CPOs that are requesting an extension beyond 180 days after the pool's fiscal year-end must file the request with the CFTC.

If a CPO is operating a pool that qualifies as a fund of funds and needs additional time to file an audited Annual Report, the notice required by CFTC Regulation 4.22(f)(2) must be filed with NFA by the Annual Report's original due date. CPOs that have previously filed this fund of funds notice do not need to file in subsequent years. The due date will be automatically extended in EasyFile.

Extension requests may not be submitted for PQR filings.

 

Pool Quarterly Reports (PQR)

Each CPO Member that operates pools for which it has reporting obligations under Part 4 of the CFTC's regulations must, using EasyFile, report to NFA on a quarterly basis, specific information about the firm and the pools that it operates. These pool quarterly reports (PQR) are due within 60 days of each calendar quarter end. CPOs that do not operate pools, or that only operate pools pursuant to CFTC Regulations 4.5 or 4.13(a)(3), do not need to complete PQR filings.

Each PQR filed after its due date will be subject to a late filing fee of $200 for each business day it is late. Under Bylaw 1303, failure to pay the late filing fee within 30 days of the due date will be deemed by NFA as a request by the CPO to withdraw from NFA membership.