Regulatory update: ESMA Confirms Timeline for Integrated Funds Reporting Framework  

ESMA has published its final report on the integrated funds reporting framework.

While the report sets out ESMA’s blueprint for a future single EU reporting framework for funds, the most significant takeaway for firms is timing: the earliest expected reporting date under the new framework is now H1 2029.  

Draft RTS and ITS are expected to go out for consultation later this year, with final drafts currently due to be submitted to the European Commission by 16 April 2027.  

This provides firms with greater clarity on implementation timelines and confirms that material reporting changes remain several years away.  

What has ESMA published?  

The report outlines ESMA’s proposed approach to integrating AIFMD and UCITS supervisory reporting into a single reporting framework, replacing the current fragmented landscape of AIFMD, UCITS, national, and statistical reporting requirements.  

Importantly, this final report does not itself introduce any new reporting obligations. Instead, it establishes the foundation for future Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS), which will contain the detailed reporting rules and templates.  

ESMA’s phased implementation approach  

ESMA has proposed a two-phase implementation strategy, with existing reporting requirements remaining in place throughout development.  

Phase 1: AIFMD and UCITS integration  
The first phase focuses on consolidating AIFMD and UCITS supervisory reporting requirements into a single framework. ESMA also plans to develop the required IT infrastructure in 2027. Full implementation is not expected before 2029.  

Phase 2: Wider reporting integration  
The second phase will extend the framework further to include MMFR, statistical reporting requirements, and other reporting obligations relevant to the funds sector. ESMA notes this phase will require an “additional few years” following Phase 1.  

Why this matters and what should firms do now? 

Although implementation is not expected before 2029, firms should continue to monitor developments closely – particularly the draft RTS/ITS, clarification of reporting scope and templates, and any updates to implementation timelines. 

For reporting teams, these initiatives signal: 

• A long‑term reduction in duplicative reporting 

• Greater standardisation of data definitions and templates 

• Increased importance of data quality, governance and controls 

• A likely transition period requiring system changes and re‑mapping of existing reports 

ESMA has now clearly set out a long-term roadmap towards fewer, smarter and more coordinated reporting requirements across the EU. 

Read the full announcement on the ESMA website.

We will continue to monitor developments closely, particularly the forthcoming RTS/ITS and consultation timelines, and assess what this means in practice for AIFMs, UCITS managers and their service providers.