Is your business ready for the next RegData return? A September compliance checklist
30.09.2026Summer holidays are over, the diaries are filling up again and it’s time to get back to business. For directly authorised IFA businesses, that can also mean getting ready for the next FCA RegData return.
If RegData reporting tends to become a last-minute job, September is a good time to step back, check your records and make sure everything you’ll need for your next RMAR return is in place. A little preparation now can make the reporting process much quicker and help avoid the stress of trying to pull everything together just before the deadline.
What should you check before your next RegData return?
The exact sections you need to complete will depend on your business and the activities you undertake. The FCA’s RMAR includes sections covering areas such as your balance sheet, profit and loss, client money and assets, regulatory capital, professional indemnity insurance, training and competence, product sales data and adviser charges.
Before you start your next return, it’s worth working through a few key checks.
1. Make sure your business data is up to date
Start with the basics.
Have there been any changes to your business, advisers, staff or appointed representatives since your last return? Are your business details and records up to date? It’s much easier to complete a return when the information you’re working from reflects your business as it is now, rather than having to identify and correct outdated information while you’re completing the return. This is also a good opportunity to check that the people responsible for completing your RegData return still have the right access and information they need.
2. Check that your financial information is complete
Your financial records form an important part of your RMAR reporting, so make sure your bookkeeping is up to date before you begin.
Check that:
- Income and expenditure have been recorded correctly
- Relevant transactions have been reconciled
- Outstanding items have been reviewed
- Your profit and loss information is complete for the relevant reporting period
- The figures you intend to report are consistent with your underlying records.
The FCA specifically highlights accurate and consistent reporting as important and its guidance includes a number of common RMAR errors relating to financial information. For example, P&L information should be reported cumulatively throughout the firm's financial year rather than only covering the latest reporting period.
Taking the time to check your bookkeeping before starting the return means you’re less likely to find yourself stopping halfway through to investigate missing or inconsistent figures.
3. Review your professional indemnity insurance information
If your PII has been renewed or amended since your last return, make sure the relevant information is available and up to date.
The FCA notes that businesses need to provide their full PII details in the reporting period where a policy is renewed or amended and highlights a number of common errors around PII reporting. Having the relevant documents and information to hand before you start can save time later.
4. Check your reporting schedule
Don't assume your next return is due simply because it is around the same time as your previous one. Your reporting requirements and schedule depend on your firm and reporting period, so check what is showing in RegData and make a note of the relevant deadline.
The FCA states that most firms need to report at least twice a year for most RMAR sections, based on their accounting reference date, with 30 working days to submit the return. Knowing your deadline early gives you much more room to deal with anything that needs investigating.
What happens when you leave your RegData return until the last minute?
It’s easy to put regulatory reporting to one side when there are clients to look after, new business to manage and a long list of other priorities.
The problem is that the return doesn’t become simpler just because the deadline is getting closer. Leaving everything until the last minute can mean:
Missing or incomplete information
You may discover that records haven’t been updated or that you’re missing information needed for particular sections.
More time spent checking figures
If your bookkeeping hasn’t been kept up to date, you may need to spend additional time working backwards through transactions and records.
Greater risk of errors
Working under time pressure makes it harder to spot inconsistencies, incorrect figures or information that needs further checking.
Unnecessary stress
A return that could have been completed gradually becomes a job that needs to be squeezed into an already busy week. The FCA itself highlights common RMAR reporting errors, including incorrect treatment of P&L information, capital resources, PII and other financial data. The answer isn't necessarily to spend more time on RegData. It’s to make the process more organised.
How to make your next RMAR return quicker and less stressful
The most effective way to simplify recurring reporting is to make preparation part of your normal business processes, rather than treating every return as a separate project.
Instead of asking: “What do we need to do for our RegData return?” ask “What should already be up to date before we start?” That small change can make a big difference.
Build a repeatable RegData checklist
Create a simple process that you can follow each time a return is due.
For example:
- Check your RegData reporting schedule and deadline.
- Review your business, adviser and staff information.
- Make sure your bookkeeping is up to date.
- Reconcile and review relevant financial information.
- Check PII and other supporting information.
- Review any changes since your previous return.
- Complete the relevant RMAR sections.
- Review the return before submitting.
- Record any issues or improvements to carry into the next reporting period.
The aim isn't to create more administration. It's to create a process that becomes familiar and repeatable. Once you know what needs checking and when there should be fewer surprises when the next reporting period comes around.
Could software make the process easier?
For directly authorised IFA businesses, bringing bookkeeping and RegData reporting together can help reduce the amount of manual preparation involved.
MyRegData is designed specifically for directly authorised IFA businesses, combining cloud bookkeeping with FCA RegData reporting in one system. It covers all relevant RMAR Sections A to K, alongside Complaints reporting and FIN073, helping firms keep their financial records organised and aligned with their reporting requirements. Once your business is set up and you're familiar with the system, MyRegData can help you complete your FCA RegData return in under 30 minutes. It also includes free accountant access and software support as part of the annual licence.
Get ready for your next RegData return
September is a good time to get your reporting process back on track.
Rather than waiting for the next deadline to appear in your diary, take some time now to check your records, review your process and identify anything that could make the next return easier. If your current approach involves spreadsheets, chasing information and a last-minute rush to get everything together, it may be worth looking at whether there’s a simpler way.
Find out how MyRegData can help you take the hassle out of FCA RegData reporting. Explore MyRegData.
Sign up for a free trial today and see how our cloud accounting software can benefit your business.
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