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Scope of Services: Dissolution

Category

Carta Responsibilities

Client Responsibilities

Maintain accounting books and records

Everything in standard scope, plus:

 

Ensure all investment activity is booked and all investments have been liquidated

Inform team of entity dissolution

Book remaining expenses, income, receivables and payables

Proper liquidation of all held investments

 

Ensure all outstanding receivables and payables are relieved

 

Provide remaining unbooked investment activity along with applicable support

 

Provide remaining unbooked income, expenses, receivables and payables

 

 

 

Banking and payment of expenses

Everything in standard scope, plus:

 

Set up payment for all unpaid expenses and accounts payable

Proper closing of all bank accounts

 

 

 

Regulatory filings, audit, and tax process

Everything in standard scope, plus:

 

Coordinate with third-party audit team on the completion of final audit

Preparation and finalization of filing dissolution paperwork

Coordinate with tax team on the completion of final tax return and K-1s

 

 

 

 

Distributions

Everything in standard scope, plus:

 

Ensure investor capital accounts are in good standing

 

Inform investment manager of potential clawback, if necessary, and coordinate return of proceeds