Disclosure Statement and Consent for Electronic Delivery of Schedule K-1

 

 

Partnerships are permitted to provide required Schedules K-1 to partners in a paper format or, with partner consent, an electronic format.

The partner consent requirements for using an electronic format are detailed by the Internal Revenue Service in Revenue Procedure 2012-17. This consent statement provides the disclosures required of all investment entities affiliated with VentureSouth to provide your K-1 to you electronically. All investment entities include Series LLCs, the VentureSouth Angel Funds, VentureSouth Mallard Fund LLC, and any other funds or special purpose vehicles managed by, operated by, or otherwise affiliated with VentureSouth.

 

Disclosure Statement

Your K-1 Delivery Options

Your choice of delivery method for your K-1s for tax year 2024 and all future tax years is as follows:

• You consent to receiving your K-1 electronically. We will provide all of your K-1s electronically until you withdraw your consent. You will not automatically receive a paper copy in the mail.

• You do not consent to receiving your K-1 electronically. We will continue to mail a paper copy to you. You can change your preference by providing or withdrawing your consent at a later date, as described below. Regardless of the option you choose, you may still request an additional paper copy of your K-1 by writing to us, or emailing us, at the address below. We will not treat such a request as a withdrawal of consent.

 

Providing Your Consent for Electronic Delivery

Your consent must be made electronically. This demonstrates your ability to access the K-1 electronically. In order to provide consent, please sign the consent below where indicated.

If you consent to electronic delivery, in order to receive your electronic K-1, you will need the following:

• a web browser, such as Chrome, Internet Explorer, Firefox or Safari.

• your access information to Venture360 (or, if there is a successor platform for Venture360, access information to that successor platform). If you cannot recall your access information, you can reset your password on the platform login page or email the VentureSouth team at the address below for assistance.

• software that allows you to view a PDF file, such as Adobe Acrobat.

 

Withdrawing Your Consent for Electronic Delivery

You may withdraw your consent at any time.

The entities will stop providing your statements electronically under either of two circumstances:

• You withdraw your consent in writing (on paper or electronically) to the address below.

• You withdraw from the entity (where permitted under the operating agreements of the entity).Your withdrawal of consent takes effect on the date the entity receives the written request. We will confirm with you in writing (on paper or electronically) the date on which your withdrawal is effective.

The withdrawal of consent does not apply to any K-1 we provided prior to the effective date of your withdrawal.

 

Electronic Delivery Process

If you consent, your K-1 will only be made available via electronic delivery. 

When your K-1 is available, you will be notified by email with a subject line of IMPORTANT TAX RETURN DOCUMENT AVAILABLE that your Schedule K-1 is available for you to download from Venture360 (or any successor platform).

Note that you may be required to print your K-1 and attach it to your federal, state, or local tax return.

 

Change of Delivery Method or Other Information

If you change your mind about your delivery method, need to update contact information, or you want to submit questions please let us know. We ask that you do so in writing, on paper or electronically, at the following address.

 

VentureSouth

c/o Paul Clark

319 Garlington Road Suite A2

Greenville, SC 29615

864-908-0086

paul@venturesouth.vc

 

 

Consent Form for Electronic Delivery of Schedule K-1s

If, after reading the information in the Disclosure Statement above, you choose to have your K-1s delivered electronically, please return this Consent Form to us.

You can return the completed form in electronic format by completing the fields below.