When and Where To File

Attach Schedules K-2 and K-3 to the partnership’s Form 1065 and file both by the due date (including extensions) for that return.

Provide Schedule K-3 to the partners of the partnership according to the timeline for providing Schedule K-1. See the Instructions for Form 1065.

Also, see the Instructions for Form 1065 for recordkeeping requirements and amendments or adjustments to Schedules K-2 and K-3.

Computer-Generated Schedules K-2 and K-3 If a computer-generated Schedule K-2 or K-3 conforms to and doesn’t deviate from the official form and schedules, it may be filed with the IRS.

Important. Be sure to attach the approval letter to a computer-generated Schedule K-2 or K-3. However, if the computer-generated form is identical to the IRS prescribed form, it doesn’t need to go through the approval process and an attachment isn’t necessary.

Every year, the IRS issues a revenue procedure to provide guidance for filers of computer-generated forms. In addition, every year, the IRS issues Pub. 1167, General Rules and Specifications for Substitute Forms and Schedules, which reprints the most recent applicable revenue procedure. Pub. 1167 is available at IRS.gov/pub/irs-pdf/p1167.pdf . For purposes of Schedules K-2 and K-3, the procedures relevant to Form 1065 and Schedule K-1 (Form 1065) should be conformed with, to the extent possible.

How To Complete Schedules K-2 and K-3

Reporting currency. Report all amounts in U.S. dollars except where specified otherwise.

References to other forms. References in these instructions to Form 1040, U.S. Individual Income Tax Return, are intended, if applicable, to include Form 1040-SR, U.S. Income Tax Return for Seniors, as well as other tax returns for noncorporate partners such as Form 1041, U.S. Income Tax Return for Estates and Trusts. Similarly, references to Form 1120, U.S. Corporation Income Tax Return, are intended, if applicable, to apply to other forms in the 1120 series. References to forms which have been replaced are intended, if applicable, to include the replacement forms.

Uses of the parts of Schedules K-2 and K-3, in general.