On Dec. 12, 2024, MAU FSC confirmed the timeline for filing of reporting obligations for insurers and reinsurers for the year and quarter end has been further extended.
Applies to financial years ended/ending Dec. 31, 2023 to Sep. 30, 2024 and Dec. 31, 2024 to Mar. 31, 2025 inclusive, plus each quarter of 2024 and part of 2025 quarter.
For financial and actuarial returns, deadlines extended to May 31, 2025/Sep. 30, 2025.
For statutory returns, deadlines are extended to May 31, 2025 and Sep. 30, 2025.
For RMF returns, deadlines are extended to Jun. 30, 2025 and Oct. 31, 2025.
On Mar. 1, MAU FSC extended deadline for filing IFRS 17 returns.
MAU FSC extended time limits, as specified in table, for filing IFRS 17 returns.
Follows request from stakeholders needing more time as IFRS 17 represents large change in accounting of insurance contracts and implementation has challenges.
Impacted Submissions
The concerned submissions are: audited financial statements/annual reports and actuarial investigation report (together referred to as financial and actuarial returns)
Also, auditor’s certificate and statutory returns (referred to as statutory returns).
Also, risk management framework, auditor’s report and actuary’s report (together referred to as RMF returns) and also quarterly/ interim financial statements.
Extension only applies to financial years starting between Jan.1 and Dec. 31, 2023.
Jun. 2024 Further Extension
On Jun. 25, 2024, MAU FSC further extended time limit for filing IFRS 17 returns.
The concerned submissions are: financial and actuarial returns for year ended Dec. 31, 2023; and quarterly/interim financial statements (quarterly returns) for Q1 of 2024.
For financial and actuarial returns, deadline extended to Aug. 31, 2024; for quarterly returns, deadline extended to Sep. 30, 2024; failure to comply will trigger penalties.
Document dated Jun. 25, 2024, received from MAU FSC Jun. 26, summarized Jun. 28.
Aug. 2024 Further Extension
On Aug. 27, 2024, MAU FSC advised of further extensions for filing IFRS 17 returns.
Applies to financial years from Jan. 1-Dec. 31, 2023, inclusive & each quarter of 2024.
For financial and actuarial returns, deadline is extended to Dec. 31, 2024; for statutory returns, deadline is extended to Mar. 31, 2025; for RMF returns, deadline is extended to May 31, 2025; and for quarterly returns, deadline is extended to Jan. 31, 2025.
Failure to comply with the extended timelines will trigger administrative penalties.
Dec. 2024 Extended Timeline
On Dec. 12, 2024, MAU FSC confirmed the timeline for filing of reporting obligations for insurers and reinsurers for the year and quarter end has been further extended.
Applies to financial years ended/ending Dec. 31, 2023 to Sep. 30, 2024 and Dec. 31, 2024 to Mar. 31, 2025 inclusive, plus each quarter of 2024 and part of 2025 quarter.
For financial and actuarial returns, deadlines extended to May 31, 2025/Sep. 30, 2025.
For statutory returns, deadlines are extended to May 31, 2025 and Sep. 30, 2025.
For RMF returns, deadlines are extended to Jun. 30, 2025 and Oct. 31, 2025.
