For calendar-year funds, K-1s are due to partners by March 15. In practice, almost all funds file for an extension, pushing the deadline to September 15.
The Short Answer
March 15 is the statutory deadline. September 15 is the extended deadline. Most LPs expect to receive K-1s by mid-summer (June through August), regardless of the extension.
Why It Matters
Late K-1s are the most common operational complaint from LPs because they delay the LP's own tax filing. Institutional LPs have their own reporting obligations and deadlines, and late K-1s cascade through their process. Tax distributions may be made in advance of K-1s to help partners cover estimated tax payments while waiting for final K-1 delivery.
Key Deadlines
- March 15: Statutory K-1 deadline for calendar-year funds.
- September 15: Extended deadline (filed with Form 7004).
- June through August: When most LPs expect to receive K-1s in practice.
- April 15: Individual tax filing deadline; LPs without K-1s must file extensions.
This content is for informational purposes only and does not constitute legal, tax, or compliance advice. Consult qualified counsel for guidance specific to your situation.