For more information, please contact Catherine Bazley, Director, AGH Real Estate and Partnership Taxation Practice at 404-835-1898 or
.
Partners/Members must consent to receive their Schedules K-1 using either a consent form (see example below) or by way of the electronic medium by which they choose to receive a Schedule K-1 (i.e. an emailed consent requesting a Schedule K-1 to be provided via email would suffice). There is no consent necessary if the Partners/Members wish only to receive their Schedules K-1 on paper.
company letterhead – SAMPLE
CONSENT FORM FOR PARTNERS/MEMBERS TO RECEIVE SCHEDULE K-1 ELECTRONICALLY
The undersigned affirmatively consents to receive Schedule K-1 information related to his/her investment in ______(“the Company”) electronically.
In addition, the undersigned is aware of the following:
1. If a Partner/Member does not consent to receive the above information electronically, the Schedule K-1 information will be furnished on paper.
2. This consent applies to each Schedule K-1 required to be furnished from the above entity after the consent is given until it is withdrawn.
3. A later request by the undersigned for a paper Schedule K-1 may be submitted to the Company. This request does not terminate the consent to receive Schedule K-1 information electronically.
4. The undersigned will provide current contact information and will notify the Company of any updated contact information.
5. The undersigned may withdraw consent by sending electronic or paper notification to the Company.
6. The withdrawal takes effect on the date received by the Company either by mail or electronically.
7. The undersigned will receive a confirmation of withdrawal from the Company and the date on which it takes effect in writing either electronically or on paper.
8. The withdrawal of consent does not apply to a statement that was furnished electronically to the Company before the date on which the withdrawal of consent takes effect.
Please send your signed consent forms or withdrawal to:
Company Name
c/o Person’s Name
Address
City, State Zip
Phone
Fax
______
Signature of person consenting Date of consent
______
Printed name of person consenting
Address: ______
Phone: ______Email: ______
This consent form is required to be completed by all partners/members who wish to receive their Schedule K-1 information electronically. The form must be signed and returned to us before we can electronically remit any information to the partner/member. For electronic transmission of Schedules K-1, Rev. Proc. 2012-17, Section 4 states “The recipient must have affirmatively consented to receive the Schedule K-1 in an electronic format. The consent may be made electronically in any manner that reasonably demonstrates that the recipient can access the Schedule K-1 in the electronic format in which it will be furnished to the recipient. Alternatively, the consent may be made in a paper document if the consent is confirmed electronically by the recipient and that consent reasonably demonstrates that the recipient can access the Schedule K-1 in the electronic format in which it will be furnished to the recipient. A new consent is not required if a partnership undergoes a technical termination under section 708(b)(1)(B).”