Regulatory Alerts2021-12-13
Added · Updated
Guidelines for Completing the Foreign Fund Return (FFR)
NamFISA requires foreign-registered pension, provident, preservation, and retirement annuity funds with secondary Namibian registration to submit an annual Foreign Fund Return (FFR). Submissions must occur within four months of the fund's year-end and include a completed five-sheet Excel spreadsheet, audited Annual Financial Statements (or proof of audit exemption), and a signed declaration by the principal officer. The aggregated return tracks fund information, member statistics, unclaimed benefits, and complaints using protected input fields and embedded guidance notes to streamline compliance reporting.
GUIDELINES FOR COMPLETING THE FOREIGN FUND RETURN (FFR)
- Guidelines for completion of the FFR 1.1. All pension, provident, preservation and retirement annuity funds with primary registration in another country, with secondary registration in Namibia as a foreign fund are required to complete and submit the FFR; 1.2. The information and statistics provided via the return need not be audited; 1.3. The FFR provides reporting on an aggregate basis; 1.4. The current Excel return should be completed annually by the Fund, and submitted within four (4) months after the Fund’s yearend; 1.5 The FFR must be submitted together with the latest set of audited Annual Financial Statements (AFS) of the Fund and the signed and scanned declaration; 1.6 Any fund that has obtained audit exemption from the relevant regulatory authority must provide proof thereof; 1.7 The spreadsheet consists of 5 sheets to be completed, namely:
- Fund Information;
- Member Statistics;
- Unclaimed benefits, Namibian;
- Complaints;
- Declaration by the Principal Officer (for completion and signature). 1.8 Guidance notes are provided on each sheet to assist the responsible person when completing the return. The instructions of what is to be filled in the sheets is provide under each sheet; 1.9 The sheets are protected and only areas shaded light blue are to be completed. Should you have any questions regarding the above, please contact any of the following persons: • Jacobina Johannes at jjohannes@namfisa.com.na or (061)290 5013 • James Mukuka at jmukuka@namfisa.com.na or (061)290 5171 • General pension fund mail address pf@namfisa.com.na
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