Schedule K-1
The IRS form a partnership issues to each partner reporting that partner's share of the partnership's income, deductions, credits and other items for the tax year. Private funds organised as partnerships issue a K-1 to every LP.
In practice
For calendar-year partnerships the partnership return and K-1s are due March 15, extendable to September 15, which is why LPs often receive K-1s late and file their own returns on extension. Since the 2021 tax year many funds also issue Schedules K-2 and K-3 to report items of international tax relevance.
In FUN/D
FUN/D keeps the capital account and allocation data your tax preparer needs, matches the finished K-1 PDFs to investor records, and releases them through the LP portal and mobile app with delivery tracking.
Related: Capital account · Investor reporting · Investor portal · full glossary
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