US Tax Requirements for Fund Managers


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n the United States, tax developments have led to some asset managers shifting their operations and looking to outsource to specialists in order to stay abreast of changes and ahead of the competition. It is critical as regulation across the funds industry increases in complexity and US tax laws evolve, that both onshore and offshore managers get their tax filings right.


Tax regimes can be diverse, obligations are detailed and at year end it can become time consuming and confusing.


Our experts offer full US tax filling preparation and support. With expertise knowledge of hedge funds, private equity funds and fund of funds structure, our team offers a tailored service to suit your tax requirements.


US Tax Preparation Services:


  • Preparation of year-end tax estimates and schedules.
  • Identification and recording of tax adjustments, including wash sales, straddles, constructive sales, and prepare partner tax allocations using the aggregation method.
  • Filing of Federal Form 1065 and related state tax return(s), partner schedule K-1s, PFIC Annual Information
  • Statements and related shareholder allocations.
  • Partnership Representative Designee
  • Service to meet the new US tax return requirements.


Benefits of working with Apex:


  • In-house tax knowledge and expertise.
  • Pricing power of a global fund administrator with long-standing experience delivering tax services for global clients.
  • Apex partners with dedicated best-in-class blue chip tax providers to do the underlying tax work under a rigorous and time-tested service delivery model.


In addition, if you file US partnership tax returns and are not based in the USA, you need aUS Partnership Representative.


Why is a US Partnership Representative required?


The Internal Revenue Service (IRS) requires all LLCs and Partnerships filing Partnership returns to appoint a US Partnership Representative to communicate with the IRS on all tax related matters. If you do not appoint your own US Partnership Representative the IRS will appoint one for you.

Apex does not provide tax or legal advice. We provide peace of mind – your Apex US Partnership Representative will deliver the highest level of service, backed by a global institutional provider, at a time when you need it most.


Our Services:


  • Act as your US Partnership Representative; a qualified accountant or CPA
  • Forward all correspondence received from the IRS to the appropriate parties
  • Stand between you and the IRS
  • Gain your consent prior to issuing any responses to the IRS
  • Track all correspondence with the IRS


Why Apex?


  • Gain additional oversight and bolster investor confidence through an independent provider
  • Easy to implement when using other Apex tax services.
  • Leverage Apex’s local US presence


if you would like any further information on these services, Contact Us today.


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