FIC: Draft Directive 11 on Risk and Compliance Returns

Posted 23 March 2026 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has published draft Directive 11, which outlines the mandatory submission requirements for the 2026 risk and compliance returns (RCRs) for specific accountable institutions.

In terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the FIC has issued draft Directive 11 for consultation and comment. The directive applies to accountable institutions designated under the following items of Schedule 1 to the Act:

  • Item 1 (Attorneys);
  • Item 2 (Trust service providers);
  • Item 3 (Estate agents);
  • Item 9 (Unit trust management companies);
  • Item 11 (Credit providers, excluding banks, mutual banks, and co-operative banks);
  • Item 14 (Kruger rand dealers);
  • Item 20 (High-value goods dealers);
  • Item 21 (South African Postbank SOC Limited); and
  • Item 22 (Crypto asset service providers).

Draft Directive 11 establishes the manner and format for the 2026 RCR, specifying the information period and the automated submission process. Affected entities are required to populate data directly via the FIC’s risk and compliance return platform. According to the proposed schedule, these institutions must report the required information by the end of April 2026 or the end of May 2026, depending on the category of the institution.

Failure to comply with the directive’s provisions constitutes non-compliance and may result in an administrative sanction under section 62E of the Financial Intelligence Centre Act, No. 38 of 2001.

Interested parties are invited to submit written comments on draft Directive 11 by no later than the close of business on Wednesday, 25 March 2026. Submissions must be made electronically via the official FIC consultation link.

Click here to download the Draft Directive 11 and Web Notice.

What this means for you, your business, or your clients

  • For yourself: You must familiarise yourself with the automated reporting fields on the FIC platform to ensure you can provide technical guidance on the 2026 RCR submission process.
  • For your business: If your firm is an accountable institution under Schedule 1 (such as a trust service provider), you must prepare internal data systems to meet the April or May 2026 filing deadlines to avoid administrative penalties.
  • For your clients: You should notify clients operating as estate agents, credit providers, or crypto asset service providers of the upcoming mandatory reporting requirements and the 25 March 2026 deadline for submitting comments on the draft.

Originally published at https://accountingacademy.co.za/news/read/fic-draft-directive-11-submission-of-risk-and-compliance-returns

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