An investor account is a custodial account maintained for the benefit of AngelList investors. You can transfer funds from your bank to your investor account and use those funds to invest in startups and syndicates.
You can also use the account to receive distributions when one of your investments has an exit.
As an investor in the fund, we are required to send you a K-1 from the fund when it has a filing requirement. We also send the information to the IRS. Whether or not you need to file a US tax return depends on many factors. Since we are not tax advisors, we suggest that you contact a CPA or tax attorney who can give you personalized guidance.
Consistent with US Tax rules, investments are written off when the fund administrator is able to determine and document that the investment has become entirely worthless. The wind-down process can sometimes last many months and the formal tax write off can sometimes occur substantially after a company first notifies that is shutting down.
Fund X neither received income nor incurred any expense during the year and therefore had no tax filing requirement. As such, no K-1s were issued for the fund.
As we are not tax advisors, we are not in a position to aid you in filling out the form. Please click on the links below for instructions to the forms. If your require any additional guidance, we suggest that you contact a CPA or tax attorney who is familiar with your situation and can provide you with individualized advice.