When can you expect your K-1 tax form?

December 21, 2021 |Orchard Alliance

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Tax season is here and you’re probably busy collecting all your tax documents in preparation to file your return. However, if you are a trust account beneficiary, you’re likely missing your K-1 form. So, when can you expect to receive it?

Unlike a 1099-R form that is required to be mailed by January 31, the deadline for trust tax documents is the IRS deadline of April 18. K-1s are part of trust tax returns and are produced by an accounting process that has unfortunately become more complex and prone to delays in recent years. In fact, trust tax forms are often the last forms approved by the IRS.

We understand that as a beneficiary, you want to receive your K-1s as soon as possible so you can file your tax return. Please know that Orchard Alliance diligently monitors the steps your trust documents must go through, and we deliver your trust tax forms as soon as they are available—with the goal to send them to you by March 31.

As you wait for your trust tax documents to be prepared, here are some key milestone dates you can anticipate:
      • Feb 1, 2022: Trust investment tax information begins arriving at Orchard Alliance
      • Early March: Anticipated date for the IRS to release the 2021 Trust Tax Form
      • March 1, 2022: Orchard Alliance begins compiling all information from investment reports in trusts
      • March 14, 2022: Documents submitted to tax preparers and trust tax preparation begins
      • March 31, 2022: Tax forms sent to trust customers by Orchard Alliance

If you have any questions about the K-1 process, please contact us at 833.672.4255 or email [email protected]. It is an honor to serve you and help you do immeasurably more for the Kingdom through your trust accounts.

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