Solving the Document Dilemma: Wouldn’t it Be Nice!

drowning in documents

“There’s like billions and billions of documents…”– Carl Sagan

Just like a detective tracking clues to a puzzle, the investor relations manager has the significant task of tracking the who, when and what of documents for a fund and its investors.

Whether it’s as simple as managing the offering documents for the fund, or as complicated as deciphering the requirements surrounding the fund’s internal investors who are required to file an 83b election, document management can be daunting to any investor relations manager.

Onshore Fund Documents

Let’s take a closer look at the manager’s responsibilities in relation to documents… Say there is an onshore fund that is required to file for its investors:

  • the form W-8IMY
  • the Certificate of Foreign Intermediary,
  • Foreign Flow-Through Entity,
  • or Certain US Branches for United States Tax Withholding.

First, the manager needs to know which investors this filing pertains to, and then they need to make sure they get the form filed. The good news is that this particular filing never expires. Sounds easy so far, right?

Offshore Fund Documents

Now let’s take an offshore fund that is required to file for their investors:

  • the form W-8BEN
  • the Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding

Again, the manager needs to identify which investors this particular filing pertains to and file the form. But there’s a catch with this one; this filing is only good for three years from the date that it’s originally filed. Things have quickly become complicated.

To track the who, when and what that needs to be filed, the investor relations manager could really use the assistance of a well thought out, fool-proof system, unlike what this unlucky Saturday Night Live assistant was stuck with.

There’s Gotta Be an Easier Way

So, what reliable tool is out there to help the investor relations manager keep track of all these documents?

Clichéd image of a beach ballWell, like the Beach Boys sang, “Wouldn’t it be nice if we were older, then we wouldn’t have to wait so long,” we didn’t want valuable time slipping away from managers while they try to identify funds, investors, and forms.

So we added a new feature in Penny 8.8 that enables managers to easily and efficiently monitor the status of all investor documents–the full set of initial documents as well as expiring documents that need updated filings.

But wait–there’s more…

Managers can also get a report of documents that are due to expire, helping them plan for the filings that lie ahead. This way there are no surprise endings, just one smart solution. Yes, Brian Wilson, “Now we know it’s gonna make it that much better!”.