Fund tax and K-1 providers compared: platforms and firms (2026)

What the fund owes each year

Every US fund structured as a limited partnership files Form 1065, the US Return of Partnership Income, for each fiscal year. For a calendar-year fund, the return is due March 15, the 15th day of the third month after year end (IRS Instructions for Form 1065). Each general and limited partner receives a Schedule K-1 showing their allocable share of the fund's income, gains, losses, deductions and credits. A fund with 30 LPs and one GP issues 31 K-1s.

A timely Form 7004 filed by March 15 extends both the return and the K-1 furnishing deadline by six months, to September 15. Most venture funds extend every year: the fund's own K-1 depends on K-1s from any portfolio company taxed as a partnership, and those often arrive in March or April. The K-1 timeline guide covers the calendar and the decision between filing and extending.

The K-1 preparation bill varies by what it covers. The federal return and K-1s are the baseline. State returns, composite filings for non-resident LPs, Schedule K-3 for foreign investors, UBTI analysis for tax-exempt LPs, and PFIC analysis for foreign holdings each add scope. Ask your CPA firm to state which of these are in the engagement letter before signing.

Three types of provider

Three types of provider handle fund tax compliance. They serve different stages and fund sizes.

Administration platforms with bundled tax. AngelList Full Service bundles fund administration, quarterly financial statements and K-1 preparation into one contract at a published price. Sydecar includes K-1s and tax filings in its published SPV fee. These platforms are the choice when you want one bill, one vendor and a price you can model before signing.

SPV and fund platforms where tax inclusion is unconfirmed. Allocations mentions scalable tax preparation as a service on its homepage, but K-1 inclusion was not confirmed in the published fund fee on the date this page was read. Software-only platforms (Fundwave, FundCount, Allvue) and most full-service administrators produce financial statements and close the books; they do not include the partnership tax return in their standard scope. You bring a CPA firm alongside them.

Specialist accounting and tax firms. CPA firms that serve private funds prepare the partnership return and K-1s as their primary deliverable. They work from the trial balance your fund administrator has already closed, apply the LPA's allocation terms, determine the character of each item and sign the return. Withum, which is new to this comparison, is a PCAOB-registered accounting and advisory firm serving VC, PE and hedge fund managers. No specialist firm on this list publishes a fee.

K-1 included: breakdown by provider

This table is a column no other comparison on this topic carries: whether the published fee explicitly includes K-1 preparation.

The decision

AngelList Full Service is the pick for a first or second venture fund manager who wants fund administration, quarterly financial statements and K-1 preparation under one agreement, at a price that is set for 10 years. The published figure is 0.15% of fund size plus $20,000 per year, with a one-time implementation fee at the first close (angellist.com/pricing/venture-funds, October 27, 2026). It is the only all-in price on this list that includes K-1 preparation.

The Institutional tier at 0.1% plus $10,000 per year does not include K-1s. If you are on the Institutional plan, you either add K-1 preparation through AngelList or bring a separate CPA firm. The Full Service tier is the one that removes the second vendor.

The pick changes to a standalone CPA firm when you already have a fund administrator you want to keep and need only the partnership return. Large administrators (Gen II, SS&C GlobeOp, Citco, Alter Domus, Standish, Aduro) produce audited financial statements and close the books; the CPA firm takes the trial balance, determines the character of each item and issues the K-1s. Withum serves that pattern and also performs PCAOB-registered fund audits, which removes a second firm from the audit engagement.

The pick changes to Sydecar for a single SPV where K-1 preparation is part of the published one-time fee and you are not running a traditional fund. Sydecar's base SPV pricing runs from $4,500 one-time, with K-1s and tax filings stated as included.

The pick would move away from AngelList Full Service if a standalone CPA firm quoted a total cost for tax and audit that was below the incremental cost of Full Service over Institutional for the fund's size, or if a fund accounting platform bundled K-1 preparation at a lower all-in price.

AngelList

Who it is for. A first or second venture fund that wants fund administration, quarterly financial statements and K-1 preparation in one contract, with a published 10-year price lock.

Delivery. Software-enabled administration.

Price. Full Service: 0.15% of fund size plus $20,000 per year; K-1 preparation included. Institutional: 0.1% of fund size plus $10,000 per year; K-1s are an available add-on. A one-time implementation fee applies at the first close based on fund complexity. Prices published at angellist.com/pricing/venture-funds, October 27, 2026.

Limits. AngelList serves VC funds, rolling funds and SPVs. The platform is not designed for PE buyout or credit fund structures. The 10-year price lock is based on fund size at first close; it does not reset if the fund grows or shrinks.

Sydecar

Who it is for. A syndicate lead or emerging manager closing a single SPV who wants formation, administration and K-1 preparation in one fixed fee.

Delivery. Software-enabled administration.

Price. From $4,500 one-time (2% of capital raised, between $2,500 and $12,500, plus a $2,000 regulatory fee); K-1s and tax filings stated as included in the standard service (sydecar.io/pricing, October 27, 2026). Add-ons $3,000 each; no recurring fee.

Limits. Sydecar does not publish pricing for traditional venture funds, only for SPVs. The 2% fee on capital raised is capped at $12,500 for the base component, which applies to SPVs up to approximately $625,000 in capital. State regulatory fees are additional at $2,000.

Allocations

Who it is for. A manager forming SPVs or a first fund who wants a flat published fee and flexibility across asset classes including real estate, crypto and secondaries.

Delivery. Software-enabled administration.

Price. Fund: $19,500 per year. Standard SPV: $9,950 one-time (up to 35 investors). Premium SPV: $19,500 one-time (up to 50 investors). The Allocations homepage mentions scalable tax preparation as a service. K-1 preparation was not confirmed as included in the published fund fee as of October 27, 2026 (allocations.com, October 27, 2026). Ask in writing before assuming it is covered.

Limits. The fees page at allocations.com/fees was inaccessible on October 27, 2026; the prices above are from the homepage. K-1 inclusion for the fund product requires direct written confirmation from Allocations before signing.

Withum

Who it is for. A domestic VC, PE or hedge fund manager that wants a PCAOB-registered CPA firm for the annual partnership return, K-1 preparation and audit from one firm.

Delivery. Administration (accounting and tax services).

Price. Quote-based. No pricing is published on the Withum pages read on October 27, 2026.

Limits. Withum is an accounting and advisory firm, not a fund administrator. It takes the books your administrator has already closed and issues the return. The fund still needs a platform or administrator for NAV calculations, investor reporting and the LP portal. Withum's VC and PE pages were accessible on October 27, 2026; specific K-1 fee ranges and minimum engagement sizes were not stated on those pages.

When to use a standalone CPA firm

A standalone accounting firm makes sense when you already have an administrator you want to keep and need only the partnership return and K-1s. The administrator closes the books, produces the financial statements and delivers a trial balance; the CPA firm takes that trial balance, applies the allocation terms from the LPA and the side letter register, determines the character of each item by holding period and structure, and signs the return.

The two firms reconcile their outputs once a year: the audited financial statements and the tax return come from the same ledger, but book income and taxable income differ, and the tax-basis capital account on each K-1 will not match the quarterly statement. Budget for that reconciliation conversation and include it in your calendar.

Four situations add material complexity to the CPA firm's scope and should be stated in the engagement letter before signing:

• Portfolio companies taxed as partnerships: their K-1s feed into the fund's K-1 and typically arrive in March, which is why most venture funds extend.
• Foreign LPs: Schedule K-3 is required for partners with foreign tax interests; the attached statements add preparation time.
• UBTI-sensitive investors: university endowments, pension funds and other tax-exempt entities need unrelated business taxable income analysis on each K-1.
• QSBS exits: a sale of qualified small business stock under Section 1202 changes the character of the gain and requires specific documentation.

What we did

We read angellist.com/pricing/venture-funds on October 27, 2026, and confirmed that the Full Service plan states tax and K-1 preparation included and the Institutional plan marks K-1s as an available add-on. We read sydecar.io/pricing on October 27, 2026, and noted that K-1s and tax filings are stated as included in the SPV pricing. We read allocations.com on October 27, 2026, and found mention of scalable tax preparation as a service but no confirmation of K-1 inclusion in the published fund fee; the fees page at allocations.com/fees was inaccessible; the K-1 cell is recorded as not confirmed. We read withum.com/industries/financial-services/venture-capital/ and withum.com/industries/financial-services/private-equity-fund-services/ on October 27, 2026, and confirmed that Withum offers tax and audit services for VC and PE funds, with PCAOB registration noted; no pricing was stated on those pages. Withum is new to this comparison. We attempted to read Armanino's service pages at armanino.com/services/tax/investment-management/ and armanino.com/industries/private-equity-venture-capital/ on October 27, 2026; both returned errors and Armanino is excluded from this comparison on this date. We attempted RSM's financial services pages; those also returned errors. No vendor was contacted.