SEBI Reporting for Research Analysts: 2026 Deadlines
Research Analysts have two reporting clocks in SEBI's February 2026 master circular: periodic reports to RAASB after each half-year, and an annual compliance audit. This guide sets out the deadlines and records each one needs.
Note: This is general guidance, not legal advice. Verify RAASB's current reporting format and any extensions before filing. Arrange the annual audit with an eligible professional.
Section 29 of the master circular requires RAs to submit periodic reports to RAASB in the format RAASB notifies in consultation with SEBI. The reporting periods end on March 31 and September 30. Submit each report within 30 days of the period end, subject to any later SEBI extension.
Section 31 separately requires an annual compliance audit. Complete it within six months of the financial year-end. Submit its report to RAASB/SEBI within one month of the report date and no later than October 31 for the previous financial year.
What records to prepare
Check RAASB's current periodic-report template for its exact fields. Keep client, fee, complaint, research, KYC, consent and interaction records current so that you can support both periodic reporting and the annual audit. The auditor must assess compliance with the RA Regulations and circulars.
The audit has further delivery obligations: publish its status on your website, publish any adverse findings with action taken, and provide the compliance audit report to clients. Submission to RAASB/SEBI alone does not complete those steps.
Reporting and audit checklist
Each half-year end
- โClose the records for the half-year ending March 31 or September 30
- โCheck the current RAASB reporting format and any notified extension
- โSubmit the periodic report to RAASB within 30 days of the period end
- โSave the submission acknowledgement with your compliance records
After the financial year ends
- โArrange the annual compliance audit within six months of March 31
- โProvide the auditor with research, client, fee, complaint, and consent records
- โSubmit the audit report within one month of its date and by October 31
- โPublish the audit status and adverse findings with action taken on your website
- โProvide the audit report to clients as SEBI requires
Three mistakes to avoid
How Aktai helps prepare the records
Aktai keeps client and research-delivery records that can support your reporting and audit preparation. Export them and reconcile them against your own books and RAASB's current form. The exact filing fields are set by RAASB, not by this article.
The annual compliance audit still requires an eligible independent professional. Software exports do not replace that review.
FAQ
Does SEBI require a May 30 annual return from Research Analysts?
The February 2026 Research Analyst master circular does not set out a general May 30 annual return. It requires periodic reports to RAASB for half-years ending March 31 and September 30, within 30 days of each period end, plus an annual compliance audit.
When are the periodic RA reports due?
The master circular requires a report for each half-year ending March 31 or September 30, submitted within 30 days to RAASB in the format RAASB notifies in consultation with SEBI. Check RAASB for the current form and any extension.
When is the annual RA compliance audit due?
Complete the audit within six months of the financial year-end. Submit the audit report to RAASB/SEBI within one month of the report date and no later than October 31 for the preceding financial year. Publish the audit status and any adverse findings with action taken on the RA website, and provide the report to clients.
Is there an annual SEBI registration fee?
No annual SEBI registration fee is listed in the RA master circular. Registration remains valid unless suspended or cancelled, subject to a continuation fee every five years. RAASB administrative fees are separate.