Annual Audit Deadlines – 2020

Did you know leap years are needed to keep our calendar in alignment with the Earth’s trip around the sun?

Without the extra day on February 29th, every four or so years, we would lose almost six hours every year.  Did you know Julius Caesar implemented the first leap day in 45 BC?

If you didn’t know 2020 was a leap year, you may want to note these dates to avoid up to $1,000.00 in fines for being late.

Regulatory Audit Deadlines:

  • Introducing Brokers and Commodity Pools:  Due to NFA on or before March 30, 2020 (90 days after Fiscal Year End)
  • Broker Dealers: Due to SEC/Finra on or before March 2, 2020 (60 days after Fiscal Year End)

Other Entities:

  • Hedge Funds may be required to have an audit within a specified time frame based on their PPM.
  • RIAs having custody over client assets are required to have a Surprise Custody Examination within the calendar year and completed
  • RIAs in certain states may be required to perform a Custody Audit and a Balance Sheet Audit. Check with your State’s requirements.

If you have further questions about annual audit and compliance deadlines and requirements, please email Mike@cogcpa.com.