K-1 Information Update Notifications

When K-1 Shareholder / Partner information is updated by the firm or client, each has the option to notify the other of any changes and/or additions.

Info

Shareholders / Partners will not be notified of changes to these details.

Annual Notification Sent to K-1 Recipient

K-1 recipients receive an email annually reminding them to make sure their personal information is up to date. The default time frame for this email can be edited under Settings > K1 Settings & Instructions. These emails can be enabled or disabled on a return-by-return basis during Processing:

 

  1. Navigate to the K-1s tab during processing. 
  2. Select or deselect the Do not send Partner Information Update Email checkbox to enable or disable firm notifications for all K-1s OR
  3. Select or deselect the Do not send Partner Information Update Email checkbox to enable or disable firm notifications select K-1s. 

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Firm Updates (Notification Sent to Client)

The firm can update K-1 recipient information and deliver K-1s if settings allow. When K-1s are distributed, notifications of updates can be turned on or off. 

Please note:

"Allow any internal user to Distribute K-1s" setting must be enabled before the return is delivered for the firm to edit Shareholder / Partner information after the return is delivered. See the General section of the Settings Overview article for more information. 

  1. Click the More (...) menu in the Action column of the return. 
  2. Click Client View
  3. Click the <Company Name> to open the Client View
  4. Click the landing page to get started. 
  5. Click Distribute K-1s
  6. Click Send Electronically
  7. Click the Edit button in the Action column of the K-1 distribution section. 
  8. Edit K-1 recipient details. 
  9. Select or deselect the checkbox Send update email notification to <Company Name>
  10. Click Save

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Client Updates (Notifications Sent to Firm)

The taxpayer can update K-1 recipient information and deliver K-1s. When K-1s are distributed, notifications of updates can be turned on or off. 

  1. Access the return. See Client Experience for additional guidance.  
  2. Click Distribute K-1s
  3. Click Send Electronically
  4. Click the Edit button in the Action column of the K-1 distribution section. 
  5. Edit K-1 recipient details. 
  6. Select or deselect the checkbox Send update email notification to <Firm Name>
  7. Click Save

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