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Partnership Agreement

1225 Publ 541 (PDF) · 2026-10-03 edition · updated 2026-10-04 · United States

The partnership agreement includes the original agreement and any modifications. The modifications must be agreed to by all partners or adopted in any other manner provided by the partnership agreement. The agreement or modifications can be oral or written.

4 Publication 541 (12-2025)

Partners can modify the partnership agreement for a particular tax year after the close of the year but not later than the date for filing the partnership return for that year. This filing date doesn’t include any extension of time.

If the partnership agreement or any modification is silent on any matter, the provisions of local law are treated as part of the agreement.

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▸Contents — 1225 Publ 541 (PDF)
1225 Publ 541 (PDF)

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