We offer a full suite of tax services including tax calculations, tax reporting, and tax filings for all the asset classes | Formidium
Formidium: Revolutionizing Tax Services for Global Funds
In the intricate landscape of fund management, tax responsibilities can present formidable obstacles. Formidium emerges as a beacon of expertise, offering a comprehensive array of tax services tailored to diverse fund types, including Digital Asset Funds, Hedge Funds, Private Equity Funds, Venture Funds, and Special Purpose Vehicles (SPVs). Our expansive tax solutions cater to a diverse global network of managers spanning over 10 countries.
Why Choose Formidium Tax Services?
At the core of our tax services lies our groundbreaking Proprietary Tax Accounting and Allocation Technology, propelling us to the forefront of the industry. Based in Downers Grove, IL, our team, led by licensed CPAs, is poised to address the tax reporting needs of over 600 funds. The synergy of cutting-edge technology and a team of 75+ seasoned professionals position us as leaders in tax filings and reporting, particularly for Schedule K-1s for your investors.
Our exclusive technology, Seamless Tax, empowers us to retrieve, cleanse, and sanitize transactional data, compute capital gains/losses using diverse methods, reconcile and process high volumes of data, and manage tax lot accounting. Committed to advanced technology and top-tier client service, Formidium is your strategic ally in navigating the intricate landscape of tax obligations.
Our comprehensive tax services span the entire lifecycle of your entity and encompass:
Review of Private Placement Memorandum Tax Section:
• Ensuring compliance and precision in tax sections of private placement memoranda.
Preparation of U.S. Federal and State Returns:
• Managing federal returns (1065, 1120, 1120-S) and state tax returns for all U.S. states, covering composite tax returns, filing fees, withholdings, and related tasks.
Supporting and Additional Tax Forms:
• Preparing additional tax forms (Form 8949, 4797, 8825, 8990, 8082, 8832-B, etc.) filed alongside federal and state tax returns.
• Preparing federal and state Schedule K-1 reporting for investors.
• Allocating taxes among partners using appropriate allocation methods.
Foreign Investments Compliance:
• Ensuring compliance with foreign investments, including forms such as 5471, 8865.
U.S. Tax Reporting for Non-U.S. Investors:
• Managing U.S. tax reporting and compliance for non-U.S. investors using forms like 1042, 8804, 8805.
• Preparing international reporting tax forms K-2 and K-3.
Miscellaneous Forms and Responses:
• Preparing various miscellaneous forms (1099s, name change, address change) and responding to IRS and state revenue notices.
Cost Amortization and Book-to-Tax Reconciliations:
• Offering and organizing cost amortization, book-to-tax reconciliations, and maintaining tax bases for investors and funds.
Tax Lot Level Calculations:
• Calculating tax lot level capital gain/loss, wash sales, and reporting carried interest under IRC 1061.
Preparation for Foreign Funds/Entities:
• Covering all aspects for foreign partnerships, blocking corporations' tax returns, and analyzing structures for applicable U.S. tax filings.
• Leveraging our proprietary technology, Seamless Tax, to redefine and streamline tax calculations, allocations, and reporting for various fund types.
Formidium's dedication to delivering comprehensive and specialized tax services, coupled with cutting-edge technology, establishes us as the trusted partner for a diverse clientele. Whether navigating traditional fund intricacies or addressing unique challenges of digital assets, our team is committed to providing industry-leading tax support and client service at every stage of the fund lifecycle. Choose Formidium to ensure precision, efficiency, and cutting-edge technology in managing your tax obligations.
