If your club is disbanding there are several things that need to be done:

1. Decide whether you are going to sell all of your stocks or transfer them to your members. Tell your broker to sell those investments that you plan to sell. If you are going to transfer stocks, your members should open accounts with your club brokerage firm.
2. If you have stocks that you are selling or have transferred that pay dividends, wait until all the dividends are received and recorded in your club records. This can take a couple of months.
3. Do a final reconciliation of your club records.
4. Once all entries are made and all records are reconciled, you must enter Member Withdrawal transactions by using the Withdraw button on your Member Summary page. All members must be withdrawn in order to prepare a final tax return.
5. Complete the partnership tax interview. If the year is not over you will be filing a partial year return. You will be using the previous years tax forms but will find the link to prepare the partial year form under the current year.
6. Download the tax forms for your club's final tax return. If all of your members are withdrawn, bivio will mark your return as "final."

Please note that your final tax return is due on the 15th day of the 4th month following your month of termination. The IRS has not defined the exact date of termination, but we feel you are safe in choosing the date of the sale or transfer of your last security. If you need to file a return before the year has ended, the short period return will be generated on last year's tax forms with this year's data.

Club members need to save their K-1 forms to use to prepare their individual returns when they file at the normal time after the first of the year. They should also receive withdrawal reports which will contain additional capital gain or loss information they need to include on their taxes.

We cannot generate partial year returns for the state tax forms. If your state requires them, you will have to fill in and file them manually.

We will keep your club data around indefinitely. If you like you can also export your club data in an open format and download the tax forms from this and past years for your own archives.