Author: Chris Andraca
Making matters worse, firms distribute K-1s in a manner that is not secure and error-prone, and often noncompliant with IRS rules. In the past this process has been notably manual and time-intensive, but the growing prominence of tailored technology has radically streamlined these activities.
Beyond the overall benefits that a strong investor portal offers fund managers and administrators, there are specific benefits to using tailored solutions for K-1 distribution. These span areas like automating manual activities, saving time, and improving security and compliance.
BaseVenture's platform enables K-1s to be imported and disseminated with ease. K-1s can be uploaded in bulk – hundreds at a time if desired – without the hassle of creating folders. And in just a few clicks, investors can be notified of their newly-uploaded documents through branded and personalized email notifications. The platform is built with bank-grade security and enables compliance with easy investor affirmation and tracking per IRS electronic K-1 regulations.
Importantly, the entire experience is quick and intuitive for investors. For those simply logging in to access their K-1s, they can do so in just a few clicks. And for investors seeking more information, they’re delivered the transparency they demand through a modern, digital experience akin to their online brokerage accounts.
We love hearing our clients talk about how our platform has benefitted them because they’re the best spokespeople for our product. Kai Chen, the Founder and Managing Director of OceanIQ Capital, put it best:
“OceanIQ Capital’s investor relations team dramatically reduced the time and effort spent to distribute K-1’s to our investors. Using BaseVenture’s digital platform helped turn a yearly operational headache into a painless exercise, thanks to features like automatic email notifications and drag-and-drop bulk import of documents.”
If you’d like to learn more about how BaseVenture’s platform can transform your K-1 season, click here and schedule a demo with us today.