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Filing Requirements for an LLC Partnership The LLC must file an informational partnership tax return on tax form 1065 unless it did not receive any income during the year AND did not have any expenses that it will claim as deductions or credits.
As stated in the instructions, the partnership need not complete Schedules K-2 and K-3, Parts II and III if it knows that it has no direct or indirect partners eligible to claim a foreign tax credit. A similar exception applies with respect to S corporations.
You can find the 1065 tax form on the IRS website. You can fill out the form using tax software or print it to complete it by hand. If your partnership has more than 100 partners, youre required to file Form 1065 online. Other partnerships may be able to file by mail.
To file Form 1065, youll need all of your partnerships important year-end financial statements, including a profit and loss statement that shows net income and revenues along with all the partnerships deductible expenses, and a balance sheet for the beginning and end of the year.
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