National Equity Fund

Tax Return Notes

Please review the Reporting Requirements spreadsheet for each individual Partnership to determine if the Partnership is required to submit an Engagement letter, tax credit calculation, a Draft Tax Return or if the Draft Tax Return requires NEF approval.

Please refer to the Year End Reporting Deadlines to ensure each Partnership meets its reporting deadlines for all Tax Returns and required supporting documentation. All submission should be uploaded via the NEF CPA Portal (preferred) or via email to yereporting@nefinc.org.

Engagement Letter

For certain Partnerships, a copy of the executed Engagement Letter is required to be submitted to NEF by the Year End Reporting Deadline. In addition to the Partnerships listed on the referenced spreadsheet, if a Partnership engaged a new CPA for the current year-end reporting, please submit a copy of the executed Engagement Letter to NEF.

General Tax Return Notes

1/1/19 GAAP balance + CY Capital Contributed + CY Net Income (Loss) +/- Other Increase (include cumulative GAAP to TAX adjustments) – CY Distributions = 12/31/19 TAX balance

If you need further information or wish to discuss any of the matters set forth herein, please contact Tracey LeGrand, NEF Vice President Financial Analysis, by email at tlegrand@nefinc.org or by phone at (312) 697-6122.