Sending K-1s to the right Limited Partners can be a manual, error-prone process. The new K-1 uploader helps ensure that every tax document goes to the right LP. When you upload your K-1s into Carta, our system will automatically match or suggest matches for LPs based upon name and tax ID.
Who this affects
LP Portal customers, Fund Admin customers
We have released a new tool for LP Portal customers to easily upload Schedule K-1 tax documents. This is the same tool used by Carta’s internal fund administrators.
The tool scans each K-1 to look for partner names and tax IDs, and compares them to the names and tax IDs we have on file.
If a K-1 matches with exactly one partner, the tool will automatically assign it to that partner.
If the tool is unable to definitively assign a document to a partner, it will suggest potential matches for user review.
To access the K-1 uploader, visit the Partners tab. Under Documents, select Upload documents and choose Schedule K-1.
Timing: This feature was released March 3, 2021