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Analysis & Insights
Three Scenarios Where Third Party US Partnership Representative Solutions Make Sense
31 Jul 2019
Recent changes to US tax legislation regarding the audit process for partnerships have important implications for CLO managers, as well as more generally in the asset management business. With entities filing as a US partnership for tax purposes now required by the IRS to appoint a US-based Partnership Representative that will liaise with the IRS in the event of an audit and handle other relevant matters, there is heightened interest from investment managers for a third party solution. While a large number of US-based institutions will be able to assume this role for their structures, the appointment of an experienced professional service provider for Partnership Representative services can prove highly optimal in three key scenarios.
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Accounting Tax and Agency Services
The Maples Group supports client mandates with services that address accounting, bank accounts administration, financial reporting and external audit and tax coordination and filing requirements for a variety of investment funds, structured finance entities and special purpose vehicles.
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