No Taxable Activity: If your investment didn’t generate taxable events (e.g., income, gains, or distributions) during the year, a K-1 will not be issued. This is common for funds still deploying capital or investments in their early stages, where no income has been realized or distributed.
K-1s Haven’t Been Finalized: The original deadline for K-1 issuance is March 15, but most funds rely on tax extensions to accommodate delays from underlying partnerships. These extensions push the final deadline to September 15, as funds cannot issue K-1s until all required information from underlying entities is finalized. As a result, K-1s are often not available until closer to the extended deadline.