Both forms are in XML format. N-CEN will be replacing the N-SAR forms while N-PORT will replace Form N-Q. All registered investment companies are required to file N-CEN by June 1, 2018. The compliance date for N-PORT is either June 1, 2018 for larger investment companies (NAV greater than or equal to $1 billion) or June 1, 2019 for other investment companies.

Form N-PORT is a quarterly filing that details all the portfolio holdings. It must be filed within 30 days of the end of each month. Form N-CEN is an annual report containing general information about the registrant and the management of the fund. This form must be filed within 75 days of the end of the fiscal year for registered investment companies or calendar year-end for unit investment trusts.

N-SAR and N-Q have been in place for over 20 years, so while it seems like a year is a long time for the transition, this is a big change. It is important to start thinking about the process of moving to these new forms now.

With the draft technical specifications now published, filers can begin to look at modernizing their own reporting process. In order to facilitate the transition to the new forms, the SEC is implementing the new forms for testing in EDGAR 17.3 (scheduled for release September 11, 2017). After EDGAR 17.3 is released filers can submit test versions of the new forms to EDGAR. For more information about the EDGAR release and the test filing period see the SEC’s announcement. The SEC will also welcome feedback from filers during the transition period.

The development team at Novaworks has already begun implementing the new forms and expect to have them completed well before the transition deadline. For more information on the new forms and how they will be implemented into the GoFiler suite, contact us at support@novaworkssoftware.com.

Additional Information

July 17, 2017 Notice to N-CEN and N-PORT Filers (www.sec.gov)

SEC Release No. 33-9776 - Investment Company Reporting Modernization (www.sec.gov)