Hello Fund Ops Friends,

We’ve hit double digits! Welcome to the 10th edition of the Fund Ops Guy newsletter—your go-to resource for deadlines, ops insights, and the latest crypto/policy scoops. Let’s jump right in and make number ten the best one yet!

Deadline(s) of the Week: January 31

1. 1099 Filing Day

   • If you pay contractors or service providers (and meet the usual thresholds), their 1099s must be filed by Jan 31. Don’t get dinged with late penalties—start collecting W-9s, verifying amounts, and prepping those forms now.
     
     

2. Remember: if someone’s an equity holder, they’re typically on the K-1 train, not a 1099. So don’t accidentally send your newly vested partner a 1099 and then wonder why they’re side-eyeing you in the hallway. Keep those equity docs separate, folks—saves time, confusion, and a few awkward conversations!
   
   

3. Third Paycheck This Month?

   • If your payroll runs bi-weekly, you might have 3 pay periods in January. Plan your cash to avoid a mid-month meltdown—nobody likes “insufficient funds” on payday.

Statements & Financial Checklist 📋

Tired of blindly trusting your fund admin? Let’s ensure you’re not getting bamboozled. A short highlight from our “Financial Statement Checklist”:

• Data Gathering: Collect portfolio company data, internal logs (subs, withdrawals, trades, fees), and all supporting docs (bank statements, valuations, etc.).

• Draft Prep & Review:

  • Provide admins with screenshots for new valuations, trades, or side-pocket updates.

  • Double-check if the admin’s draft actually reflects your fund’s activity: Are side pockets and cost bases correct? Do the trades match your logs?

  • Expect 3–7 days for the fund admin to finalize, but always do an internal review to mark up potential discrepancies.

• Approval & Distribution:

  • Once the final package is corrected and approved, statements go out to investors.

  • Keep an eye on how changes compare to last quarter—never just rubber-stamp your admin’s numbers.

  • Store everything in your data room for easy retrieval and next-quarter sanity.

Remember: Cross-verify, highlight suspicious entries, and ask for clarifications. No question is too small if it prevents a big headache later.

But hey, if wrestling with spreadsheets and chasing fund admins isn’t your idea of a good time, we can do the heavy lifting for you. Book a quick consult here and reclaim your nights and weekends!