Scope of Services: Carta Fund Tax Preparation (Luxembourg)
Carta Fund Tax Preparation is an add-on service not included in your Carta Fund Administration subscription. Per annum pricing will be determined based on your individual fund structure, needs, and complexities.
Carta Fund Tax Preparation - Base Services
Included in the base Carta Fund Luxembourg Tax Preparation package, Carta will work with you to:
Prepare and file your Luxembourg annual Partnership tax returns
Included in the base Carta Fund US Tax Preparation package, Carta will work with you to:
Prepare and distribute Proforma of Form 1065 and Schedule K-1
Premium Tax Preparation Services
Depending on your fund structure, you may need the following services that are not included in the base Carta Fund US Tax Preparation subscription based on the below characteristics, including but not limited to:
Prepare and file your funds’ federal tax return (Form 1065)
Prepare and distribute Schedule K-1s for partners
Prepare, file, and distribute state filings for your fund and partners (when required)
Premium Tax Preparation Services are provided for an additional fee. Talk to your Carta representative to discuss any filings not listed above. Fees will be billed to Client upon completion of tax filing.
Not Supported
While most funds are able to be serviced by Carta Fund Tax, the product will be unable to support funds with any of the following non-standard characteristics:
Entities not administered through Carta
Non-accrual books
Non-calendar tax years
Investments in cryptocurrencies
Investments in real estate or other non-venture asset classes
Fund structures with master feeder or blocker entities
Any other non-standard characteristics as identified by Carta from time to time
Client Responsibilities
Client must confirm their fund’s data, including but not limited to the asset(s) held, by January 5 of the year of the applicable US tax filing deadline.
Client will authorize Carta to append their signature to an e-file authorization form so Carta can file tax returns on their behalf.
Client is responsible for their fund’s investors confirming their respective tax information in the Carta platform by January 5 of the year of the applicable US tax filing deadline.
Once Client has submitted all required information, Carta will make initial draft Form 1065s and draft Form K-1s available to Client for review by Client. Such drafts will be subject to further review and revision by Carta’s tax team, and updated versions will be made available to Client for review and approval before being submitted to the IRS for filing.
Client shall be responsible for approving and, if applicable, signing tax forms prior to filing by Carta.
If the deadlines set forth above are not met or if Client or Client’s investors provide incorrect information:
Carta shall not be responsible for any penalties due to late or incorrect filings.
Carta shall not be responsible for late tax payments.
Carta may file extensions where necessary.
By engaging Carta, Client authorizes Carta and its affiliates to review all information about Client and its partners that Client or its partners provide to or receive from any Carta affiliate.
Additional terms and conditions apply: https://carta.com/legal/agreements/tax-preparation-product-specific-terms
DISCLOSURE: This communication is on behalf of eShares Inc., dba Carta, Inc. and its affiliates ("Carta"). This communication is not to be construed as legal, financial, accounting or tax advice and is for informational purposes only. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein.
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