Under the interval fund rule, closed end interval funds are required to offer to repurchase between 5% and 25% of shares at NAV at predetermined intervals(quarterly, semi-annually, or annually). Frequency of repurchase offers varies depending on the liquidity of the underlying assets, and target investor base. The SEC requires funds to provide  notice to shareholders between 21 and 42 days in advance of repurchase offer . Interval Funds also file N-23c-3 with the SEC within 3 days of sending shareholder notification of a tender offer. (see Rule N-23c-3 under the 1940 act)

In practice, most interval funds conduct a repurchase offer quarterly. Here is what the data says:

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