On Dec. 27, PAN CB instructed on requirements for reporting assets.
PAN CB issued Circular 2024-0092 re Form SB-UF-01 entitled the Report of assets managed in trust, that is required for trust companies on assets managed in trusts.
Highlights
PAN CB revised Form SB-UF-01 in order to make improvements within its structure.
Attached to Circular the new Form in Excel format with instructions for its completion.
Filed quarterly via Digital Information Transfer System of Obligated Subjects (TIDSO).
As of close of Mar. 31, 2025, trust companies must submit the Form SB-UF-01 with the updated information in Excel format, quarterly within 10 business days after close.
However, until the quarter ending on Dec. 31, 2024, these fiduciaries must continue to use the Form in PDF format, in accordance with Circular SBP-DR-FID-0027-2021.
Circular supersedes FID Circular 1-2001 of 2001, and FID Circular 4-2001 of Jun. 2001
Effectiveness
First report for Mar. 31, 2025 quarter, is due within 10 business days after the close.
