Summary of deadlines for regulatory and tax forms

During Arthur Bell's 8th Annual Alternative Investment Industry Update, we discussed several deadlines for regulatory and tax forms. Below is a list of those forms along with their due dates.

Regulatory Forms and Due Dates

Amended Form ADV

• Effective for 12/31/11, Form ADV needs to be filed 90 days after year-end (March 30, 2012)

FORM PF

• Under 150 million in Private Fund Regulatory Assets Under Management (RAUM) – No filing required
• 150 million to 1.5 billion in Hedge Fund RAUM – Annual filing within 120 days of year-end (first filing would be December 31, 2012 with filed by date of April 30, 2013)
• 1.5 billion to 5 billion in Hedge Fund RAUM – Quarterly filing within 60 days of the end of each fiscal quarter (first filing would be December 31, 2012 with filed by date of March 1, 2013)
• 5 billion or more in Hedge Fund RAUM - Quarterly filing within 60 days of the end of each fiscal quarter (first filing would be June 30, 2012 with filed by date of August 29, 2012)
• 150 million to 1 billion in Liquidity Fund RAUM – Annual filing within 120 days of year-end (first filing would be December 31, 2012 with filed by date of April 30, 2013)
• 1 billion to 5 billion in Liquidity Fund RAUM – Quarterly filing within 15 days of the end of each fiscal quarter (first filing would be December 31, 2012 with filed by date of January 15, 2013)
• 5 billion or more in Liquidity Fund RAUM - Quarterly filing within 15 days of the end of each fiscal quarter (first filing would be June 30, 2012 with filed by date of July 15, 2012)
• 150 million to 2 billion in Private Equity Fund RAUM – Annual filing within 120 days of year-end (first filing would be December 31, 2012 with filed by date of April 30, 2013)
• 2 billion to 5 billion in Private Equity Fund RAUM – Annual filing within 120 days of year-end (first filing would be December 31, 2012 with filed by date of April 30, 2013)
• 5 billion or more in Private Equity Fund RAUM – Annual filing within 120 days of the end of each fiscal year (first filing would be within 120 days of the end of its fiscal year to end on or after June 15, 2012.  If fiscal year ends on June 30, 2012, then the filed by date would be October 28, 2012.)

Form SLT

• Quarterly filing with first filing due for the quarter ending September 30, 2011 with a filing date of October 23, 2011.  Second filing will be required for the quarter ending December 31, 2011 with a filing date of January 23, 2012.  Monthly filings are required starting January 31, 2012 and are required to be filed no later than the 23rd calendar day of the following month.

Form 13h

• Large traders must identify themselves by December 1, 2011.
• Annual filing requirement for large traders within 45 calendar days of the end of the calendar year (February 14, 2012 for the year ending December 31, 2011).
• Upon becoming a large trader the large trader must file through EDGAR promptly.  The SEC has indicated that 10 days would be considered promptly (See page 38 of the rule).

Tax Forms and Due Dates

Form 1042

• Annual Withholding Tax Return for U.S. Source Income of Foreign Persons – Mail by March 15th

Form 1042-S

• Foreign Person’s U.S. Source Income Subject to Withholding – Mail by March 15th

Form 1042-T

• Annual Summary and Transmittal of Forms 1042-S – Mail by March 15th 

Form 1099

• By February 28th (on paper) or April 2nd (if filing electronically)

Form TD F 90-22.1(FBAR)

• Must be received by the Department of the Treasury on or before June 30th of the year immediately following the calendar year being reported.  The June 30th filing date may not be extended.

Form 5471

• Information Return of U.S. Persons With Respect to Certain Foreign Corporations – Attach Form 5471 to your income tax return and file both by the due date, including extensions, for that return.

Form 8865

• Return of U.S. Persons With Respect to Certain Foreign Partnerships – Attach Form 8865 to your income tax return and file both by the due date, including extensions, for that return.

Form 8938

• Statement of Specified Foreign Financial Assets – Attach Form 8938 to your annual return for the current year (and any suspended tax year) and file by the due date, including extensions, for that return.

Form 8621

• Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund – Attach Form 8621 to the shareholder’s tax return and file both by the due date, including extensions, of the return at the Internal Revenue Service Center where the tax return is required to be filed.

Form 8858

• Information Return of U.S. Persons with Respect to Foreign Disregarded Entities – Due when your income tax return or information return is due, including extensions.

Form 8949

• Sales and Other Dispositions of Capital Assets – Attach to Schedule D; due when your income tax return is due, including extensions.

Form 926

• Return by a U.S. Transferor of Property to a Foreign Corporation – Must be filed with the U.S. transferor’s income tax return for the year that includes the date of the transfer.

IRS Circular 230 Disclosure:
To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.