The complexities of fund tax calculations and reporting are intense. Adjusting for wash sales, tracking & linking straddles and accounting for REITs are extremely tedious tasks, each with significant error risks-especially when managed manually. Yet failure to do so timely and accurately can result in significant penalties as well as immeasurable reputation damage.
More than 4,500 U.S. mutual and hedge funds already rely on FundTax® to automate complex fund tax calculations & reporting. Modules include calculations for Wash Sales, REITS, Straddles, PFIC, Wash Sale Avoidance and QDI/DRD Reporting for use in excise, fiscal and interim reporting.
By helping funds quickly and accurately calculate tax adjustments, FundTax can significantly reduce time spent on tax compliance and the risks of inaccurate fund distributions & associated IRS penalties.