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K-1 preparation and distribution for every investor
Tax season should not mean sending hundreds of K-1s one at a time. Our fund administration team prepares your K-1s and tax documents, and Covercy One matches each file to the right investing entity and delivers it securely to your limited partners (LPs).
| File | Investing entity | Match |
| K1_2025_TaxID-4471.pdf | Alder Family Trust | Matched |
| K1_2025_Brightwater.pdf | Brightwater Holdings LLC | Matched |
| K1_2025_Okafor_M.pdf | M. Okafor IRA | Close match |
| K1_2025_Linden-Park.pdf | Linden Park Partners | Matched |
| K1_2025_scan_0419.pdf | Choose an investing entity | Unmatched |
K-1 and tax preparation, handled for you
K-1 and tax preparation are part of Covercy Fund Administration. Our team works from the same capital accounts, contributions, and distributions your fund already runs on in Covercy One, so there is no investor data to re-export or re-key at year-end.
- K-1 and tax preparation by the Covercy Fund Administration team
- Prepared from the contributions, distributions, and withholding already recorded in the platform
- One provider for the platform and the tax work
Upload every K-1 at once, matched automatically
Drop a whole batch of K-1 files into Upload & Share. Covercy One reads each filename, matches it to the right investing entity by accounting ID, tax ID, or name, and shows you the results to review before anything is sent.
- Bulk upload of per-investor K-1s, agreements, and letters in one flow
- Each file matched to an investing entity from its filename
- Clear review states, with close matches flagged for you to confirm or change
- Share each file with the right recipients in the same flow
Secure delivery your investors can find again
Every K-1 lands in the investor's document center in their portal, organized in folders and searchable, so an LP or their accountant can download it whenever they need it. Share emails can include the documents as attachments for the recipients you choose.
- Investor document center with folders, search, preview, and permissioned download
- Optional attachments on share emails, per recipient
- Documents already shared with an investor stay available after an ownership transfer
Withholding recorded as it happens
When tax is withheld from a distribution, Covercy One records the withholding separately from the gross distribution for each investor, so the numbers your tax work depends on are already in the books.
| Investing entity | Gross | Tax withheld | Net paid |
| Alder Family Trust | $42,000 | — | $42,000 |
| Brightwater Holdings LLC | $28,000 | — | $28,000 |
| Vesterholm Invest ABWithholding | $18,000 | ($5,400) | $12,600 |
| M. Okafor IRA | $11,200 | — | $11,200 |
Nothing goes out without your review
You stay in control of every file and every recipient.
Review before sharing
Every match is shown for review, and you can correct any file before it is shared.
Permissioned documents
Each investor sees only the documents shared with their own entities.
Branded delivery
Share emails and the investor portal carry your firm's branding.
Powered by the rest of Covercy One
K-1 delivery runs on the same investor records, portal, and distributions as the rest of Covercy One.
Fund Accounting
A live capital ledger with ILPA-formatted statements, NAV, and management fees, plus books kept by our team.
ExploreInvestor Portal
Give LPs a branded portal for positions, documents, reporting, and capital accounts.
ExploreDistributions
Calculate, approve, and pay distributions to the cent, then reconcile automatically.
ExploreK-1 and tax questions
- Does Covercy prepare K-1s?
- Yes. K-1 and tax preparation are part of Covercy Fund Administration and are handled by our fund administration team. Covercy One then distributes the finished K-1s to your investors.
- How does automatic K-1 matching work?
- When you upload a batch of files, Covercy One matches each one to an investing entity using the filename, by accounting ID, tax ID, or name. It does not read the contents of the document. You review every match, including close matches, before files are shared.
- Where do investors find their K-1s?
- In the document center of their investor portal, organized in folders and searchable. You can also attach the documents to the share email for the recipients you choose.
- Can an investor's accountant get their K-1?
- Yes. Investors can give trusted parties, such as an accountant, permissioned access to their portal, so they can download documents directly.
- Does Covercy track tax withholding?
- Yes. Withholding on distributions is recorded separately from the gross distribution for each investor.