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I invested in an LLC that has for the most part gone under. The LLC exists but I do not think that I will receive a K-1 for for 2011. My understanding is that there is a tax form I can fill out to tell the government that a K-1 will not be available.

Is anyone familiar with this form? I can't seem to find it anywhere?

Thanks ahead of time.

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Form 10-K is filed by corporations to SEC. You must be thinking of form 1065 (its schedule K) that a partnership (and multi-member LLC) must file with the IRS.

Unless the multi-member LLC is legally dissolved, it must file this form. You're a member, so it is your responsibility, with all the other members, to make sure that the manager files all the forms, and if the manager doesn't - fire the manager and appoint another one (or, if its member managed - chose a different member to manage).

If you're a sole member of the LLC - then you don't need to file any forms with the IRS, all the business expenses and credits are done on your Schedule C, as if you were a sole propriator.

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  • Unfortunately I am unable to contact the manager. I'm not the only one either. There are four partners, one being me, who are looking to resign but are unable to due to silence. I need to file my personal taxes and my understanding is that I can include a orm that states that I didn't receive a 10-k. I was hoping to fill this form out but I can't find it or any information regarding it.
    – skimobear
    Jan 12, 2012 at 4:39
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    @skimobear - do you have operational agreement? You should have one. Act based on it. If majority of the members votes to dissolve - it will be dissolved. If majority of the members votes to appoint a different manager - so it will be. Are you in contact with all (or most of all) the other partners? Make a decision, document the decision, and act upon the decision. If you're part of a pool of investors, and cannot get a hold of all the rest of the partners - you should turn to the agent of service in the state the LLC is registered at. Talk to an attorney, if you cannot resolve it on your own.
    – littleadv
    Jan 12, 2012 at 4:43
  • I do have an agreement. The 'executive manager' is the only one left on the executive team and he is not reachable. The agreement states that I need to submit my resignation to someone on the executive team but he is the only one left and he wont co-operate.
    – skimobear
    Jan 12, 2012 at 4:55
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    then you need an attorney.
    – littleadv
    Jan 12, 2012 at 5:27
  • @skimobear: Most agreements I've seen allow one or members to force a meeting. Like littleadv says, you can propose to fire the 'executive manager' at the meeting and replace him with someone cooperative; or you can vote to dissolve the LLC.
    – bstpierre
    Jan 12, 2012 at 13:57

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