PARTNERSHIP TAX RETURN
Form 1065 for multi-member LLCs
An LLC with two or more owners is taxed as a partnership, so it files Form 1065 and gives each partner a Schedule K-1 with their share. We prepare it for partners in the US, abroad, or both, including the extra schedules the IRS wants when a partner lives outside the US.
Is this for you? (H2, two-answer box)
If all partners live in the US: your LLC files Form 1065 and each of you reports your K-1 share on your own Form 1040. We can file the partners' 1040s too.
If any partner lives outside the US: the 1065 also needs Schedules K-2 and K-3, and we collect a Form W-8BEN from each foreign partner. If the LLC has US business income, extra withholding forms for the foreign partners apply (quoted separately) and those partners may need their own Form 1040-NR.
Not for you if the LLC has one owner (Form 5472 or Form 1040) or has elected to be taxed as a corporation (Form 1120 or 1120-S).
Published 9 November 2026 · Reviewed by Ishfaq Ahmed, IRS Certifying Acceptance Agent
What's included
- Form 1065 and a Schedule K-1 for each partner
- Schedules K-2 and K-3 when any partner is foreign
- W-8BEN / W-9 collection from every partner
- A check of the six US-activity questions for the partnership
- Drafts in your portal to approve, and revisions until they're right
- E-filing with the IRS and the acknowledgement in your portal
- A copy of each partner's K-1 for their own records
Not included (quoted separately): withholding on US business income allocated to foreign partners (Forms 8804, 8805 and 8813), state partnership returns and state withholding for non-resident members, partners' personal returns, and late-year catch-ups.
How it works
- Start in the portal. Create your account, choose the service, accept the client agreement and get your invoice. 2. Send your documents. Upload them in the portal (not by WhatsApp or email). We tell you if anything is missing. 3. We prepare your draft. Our preparer builds the return in professional tax software. 4. You check and approve it. You get the draft in the portal. Approve it, or ask for a change and we send a new version. 5. Pay and sign. Full payment before we file. Then print Form 8879 (the form that lets us e-file for you), sign it with a pen and upload a clear photo or scan. 6. We file and send proof. Ishfaq Ahmed reviews and files every return. We e-file it with the IRS, and the IRS acknowledgement goes into your portal with your final copy., with step 5 line: "Then the partner who signs for the LLC prints Form 8879-PE, signs it with a pen and uploads a clear scan." Then Our cut-off: send your documents, approval, signature and payment by the 13th of the deadline month (13 March, 13 April, 13 June). After that we file an extension first ($50, a separate service) and then your return.
What we need from you
- The tax year
- The LLC's details and EIN letter
- Each partner: name, country, ownership %, and SSN or ITIN if they have one
- The year's income and expenses (bank statements or a profit and loss statement)
- Money each partner put in or took out
- The six US-activity answers for the partnership
- Last year's return, if one was filed
Deadlines and penalties
- Due date: March 15, 2027 (tax year 2026).
- More time: Form 7004 extends it to September 15, 2027, if it's sent by March 15. Tax extensions, $50.
- When it's required: for any year the LLC has income or pays any expense, and paying the state fee or registered agent counts. That's almost every year, so we file every year for our clients.
- Penalty: $260 per partner for each month the return is late, up to 12 months, for returns due in 2027. A two-partner LLC that is 12 months late faces $6,240.
Price
$449 per tax year: Form 1065 with K-1s (and K-2/K-3 where a partner is foreign). Full payment before we file. Bank transfer; the payment details come with your invoice in the portal. Card payments are not available yet. The IRS charges nothing to file a return; our fee is for preparing and filing it.
Frequently asked questions
Our LLC had no income. Do we file?
If the LLC paid any expense (state fee, agent, bank fee), yes. That covers almost every year. We file every year to keep your IRS record clean.
Does the partnership pay tax?
No. The partnership itself pays no US income tax. Each partner reports their share, and US business income allocated to foreign partners carries withholding the LLC must pay.
My partner lives abroad and has no US income. Do they file anything?
Often not, when the partnership has no US business income. We check each partner's position and tell you.
What are K-2 and K-3?
Schedules that report international tax items to the IRS and to each partner. When any partner is foreign, the usual exception doesn't apply, so we prepare them.
Can a husband and wife have a two-member LLC?
Yes. It usually files Form 1065. In a few community-property states a married couple may have other options; we'll tell you if yours applies.
What if we missed last year's 1065?
File it now. Some late 1065 penalties can be removed by asking the IRS. See Missed years and IRS letters.