Advance Pricing Agreement compliance requires annual report detailing covered transactions, transfer pricing method and critical assumptions. Form 3 CEF mandates an annual report for each year of an APA identifying the taxpayer, APA reference and type, associated enterprises and detailed, transaction-level information on each Covered Transaction-nature, amount, jurisdictions, agreed transfer pricing method, profit level indicator, actual results, adjustments and their treatment in returns. The report must declare changes in business model or functional and risk profiles, state the methodology followed and reasons for any variation from the APA, confirm whether critical assumptions were met or changed, disclose organisational restructurings and compliance with all APA terms, attach supporting documents, and be signed and filed in quadruplicate.