Family offices, hedge funds and private equity funds each have a unique set of circumstances that impact upon their tax obligations. The Helm team helps manage your tax affairs so you can do what you do best – focus on optimizing investment returns and capital preservation.
Our team of experienced professionals has many years of experience assisting family offices, hedge funds, private equity funds, and institutional and high-net-worth investors with their tax affairs. These include US domestic and international tax preparation, tax due diligence and structuring, tax compliance, tax provisions and FATCA-related issues, as well as fund and special purpose vehicle operations.
Our services are adaptable to each family and business we work with – whether you need assistance on a single, one-off tax matter or want to fully outsource all your tax reporting and compliance needs. Regardless of the size of your family office or firm, we work with you (and your other advisors) to deliver thorough and on-time tax reporting.
Our tax services for hedge and private equity funds focus on limiting tax exposure for the fund and its investors, while ensuring compliance with regulations.
Initial fund structuring aimed at minimizing overall US tax exposure and tax filing obligations of a fund and its investors.
Investment tax due diligence services including:
Preparation of corporate returns (Form 1120, 1120-F) for US and non-US blocker entities.
Preparation of partnership returns (Form 1065) including Schedule K-1s for US and non-US based partnerships (due to direct US partners or partnership generating ECI).
Calculation of complex tax allocations for partnerships in compliance with §704 including reverse §704(c) on an asset-by-asset basis, reverse §704(c) by aggregation, and tax waterfall calculations.
Preparation of Form 1120-RIC for Regulated Investment Companies along with:
Preparation of Form 1120-REIT for Real Estate Investment Trusts along with:
Preparation of state and local tax returns including withholding forms and composite returns.
Preparation of Form 1099s.
Preparation of PFIC statements to enable US investors to make a Qualified Electing Fund election.
Preparation of information reporting due to non-US owner of a US corporation or US disregarded LLC (Form 5472).
Preparation of complex information reporting due to US investor’s ownership interest in foreign assets (FBAR, Form 8938, Form 8621, Form 5471, Form 8865, Form 8858, Form 926, Form 3520, Form 3520-A).
FATCA reporting and compliance.
Calculation of withholding tax payments and preparation of withholding tax forms (Form 1042/1042-S, Form 8804/8805, Form 8288/8288-A) due the payment or allocation of FDAP, ECI and/or FIRPTA.
Assisting with the preparation and validating W8 and W9 forms.
Security analysis of:
Preparation of earnings and profits (E&P) study.
Calculation and planning on the limitation of interest deduction on shareholder loans due to:
Complete administrative management of blocker and SPV entities.
Analysis of when to make distributions with respect to shareholder loans, equity, and liquidating distributions.
Assisting with making tax payments.
Calculation of accounting for income taxes under IRFS and US GAAP.
Representation of clients in tax audits.
The Foreign Account Tax Compliance Act (“FATCA”) is US legislation aimed at combating tax evasion by US taxpayers through the use of non-US accounts and assets. To achieve this main, FATCA generally requires non-US financial institutions to identify and report certain information concerning their US account holders or else suffer a 30% withholding tax. Although FATCA is US law, many non-US jurisdictions have entered into so-called “intergovernmental agreements” (“IGAs”) with the US to facilitate the local implementation of FATCA and thereby require resident financial institutions to comply with FATCA. As a result, FATCA is now part of the tax and information reporting framework of many jurisdictions. In addition, FATCA has engendered other information reporting regimes, including the UK “FATCA” Agreements with the Crown Dependencies and Overseas Territories and the OECD Common Reporting Standard (“CRS”). These other reporting regimes are substantially based on FATCA Model 1 IGA.