We can offer full US tax preparation service and support, including the preparation and filing of IRS Form 1065 with related Schedule K-1s plus and issuance of PFIC statements for US investors in offshore funds.
We fully understand the importance of delivering K-1s. An intimate knowledge of hedge funds, private equity funds and fund of funds structures means that our team can effectively and efficiently work through the fund’s tax issues and deliver results.
- US and state tax returns.
- Maintenance of tax allocation schedules by investor.
- K-1 preparation and distribution.
- Passive Foreign Investment Company (PFIC) Annual.
- Information Statements and related shareholder allocations.
- Expert knowledge relating to PFICs, Foreign Bank Account Reports (FBAR), Foreign Corporations (Form 5471) and Foreign Partnerships (Form 8865).
- Foreign Disregarded Entities (Form 8858) and related issues.
We work with all clients to tailor the tax services they require.
- Maintaining tax cost base for open security transactions.
- Tracking and allocating income and expense by tax characteristic including source of income, capital gains tax method, foreign tax credits and dividend franking credits.
- Calculation of distributions consistent with fund mandates and Australian Tax requirements.
- Calculation of withholding tax on distribution for investors where required.
- AIIR Returns.
- Issuance of tax distribution statements.
- Calculation of RITC for business activity statements.
- Lodgement of quarterly TFN returns.