formidium
formidium
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formidium · 1 year ago
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[1:10 PM] Shivangini Yadav (JAI)
At Formidium, we’ve put 8+ years of relentless calculations and 2MM hours of R&D into our proprietary Tax Solution, serving our clients efficiently and flawlessly. We’re focused on reshaping the landscape of tax reporting for all the fund types. We offer more than service:  ✔ Software that redefines and streamlines the tax process.  ✔Designed to handle the most intricate tax processes.  ✔Benefit from the expertise of over 75 tax professionals.  ✔State-of-the-art technology delivering world-class client services.  ✔Experienced network of professionals that scale based on your needs. Contact us at https://lnkd.in/gPUtsG8K to learn more!
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formidium · 2 years ago
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Marketplace
Why Marketplace?
The core objective of the Marketplace is to link investors, fund managers, and service providers, establishing a top-tier hub for alternative investment fund details.
The Marketplace empowers investors to create personalized portfolios, establish direct connections with participating managers, and make electronic investments through Formidium Technology's CommonSubDoc (CSD).
Investment managers could construct a profile, presenting their funds comprehensively to accredited investors through an extensive listing. Investors gain access to a diverse catalog of multi-asset fund managers, along with elusive data, facilitating seamless connections. Service providers benefit from extensive exposure to some of the most promising funds in the industry.
Effortlessly generate a corporate profile featuring historical performance data, marketing materials, videos, and the ability to electronically onboard potential investors using Formidium Technology's CommonSubDoc (CSD).
Notably, the Marketplace is perpetually free for investors and offers complimentary access to the first 100 fund managers and service providers in the inaugural year.
Investors: The Marketplace enables investors to construct tailor-made portfolios, establish direct connections with participating managers, and make electronic investments utilizing Formidium Technology's CommonSubDoc (CSD).
Discover: Identify the most exciting funds in the world
Research: Wisely include funds in your watchlist.
Observe: Easily monitor the progress of funds.
Connect: Invest electronically using CSD.
Fund Managers: Easily generate a company profile featuring historical performance data, marketing materials, videos, and the functionality to electronically onboard prospective investors using Formidium Technology's CommonSubDoc (CSD).
Enhance your exposure to qualified investors.
Convert potential investors and onboard them electronically.
top-notch platform to discover the services you require.
Utilize data to determine where you should allocate your time.
Service Providers: Formidium offers comprehensive business services, including Auditing, Legal Support, Compliance, Brokerage, Technology Solutions, and Conferences.
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formidium · 2 years ago
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Formidium Fund Services offers cutting-edge solutions for swift Net Asset Value (NAV) processing and tailored reporting at competitive rates. Our team, comprised of seasoned industry professionals, has dedicated years to developing and refining an exceptionally efficient approach to fund administration. Leveraging progressive, user-friendly, and secure technology, we deliver unparalleled services to our clients.
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formidium · 2 years ago
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ICYMI: Chris Meader, Patrick Colegrave, and Gary Ross gave a webinar on initiating a Crypto Fund the right way today. We're thankful for their valued input and grateful to all who attended. Please find the recording here.
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formidium · 2 years ago
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Formidium: Revolutionizing Tax Services for Global Funds
In the intricate landscape of fund management, tax responsibilities can present formidable obstacles. Formidium emerges as a beacon of expertise, offering a comprehensive array of tax services tailored to diverse fund types, including Digital Asset Funds, Hedge Funds, Private Equity Funds, Venture Funds, and Special Purpose Vehicles (SPVs). Our expansive tax solutions cater to a diverse global network of managers spanning over 10 countries.
Why Choose Formidium Tax Services?
At the core of our tax services lies our groundbreaking Proprietary Tax Accounting and Allocation Technology, propelling us to the forefront of the industry. Based in Downers Grove, IL, our team, led by licensed CPAs, is poised to address the tax reporting needs of over 600 funds. The synergy of cutting-edge technology and a team of 75+ seasoned professionals position us as leaders in tax filings and reporting, particularly for Schedule K-1s for your investors.
Our exclusive technology, Seamless Tax, empowers us to retrieve, cleanse, and sanitize transactional data, compute capital gains/losses using diverse methods, reconcile and process high volumes of data, and manage tax lot accounting. Committed to advanced technology and top-tier client service, Formidium is your strategic ally in navigating the intricate landscape of tax obligations.
Services We Provide:
Our comprehensive tax services span the entire lifecycle of your entity and encompass:
Review of Private Placement Memorandum Tax Section:
• Ensuring compliance and precision in tax sections of private placement memoranda.
Preparation of U.S. Federal and State Returns:
• Managing federal returns (1065, 1120, 1120-S) and state tax returns for all U.S. states, covering composite tax returns, filing fees, withholdings, and related tasks.
Supporting and Additional Tax Forms:
• Preparing additional tax forms (Form 8949, 4797, 8825, 8990, 8082, 8832-B, etc.) filed alongside federal and state tax returns.
Schedule K-1 Reporting:
• Preparing federal and state Schedule K-1 reporting for investors.
Partner Tax Allocations:
• Allocating taxes among partners using appropriate allocation methods.
Foreign Investments Compliance:
• Ensuring compliance with foreign investments, including forms such as 5471, 8865.
U.S. Tax Reporting for Non-U.S. Investors:
• Managing U.S. tax reporting and compliance for non-U.S. investors using forms like 1042, 8804, 8805.
International Reporting:
• Preparing international reporting tax forms K-2 and K-3.
Miscellaneous Forms and Responses:
• Preparing various miscellaneous forms (1099s, name change, address change) and responding to IRS and state revenue notices.
Cost Amortization and Book-to-Tax Reconciliations:
• Offering and organizing cost amortization, book-to-tax reconciliations, and maintaining tax bases for investors and funds.
Tax Lot Level Calculations:
• Calculating tax lot level capital gain/loss, wash sales, and reporting carried interest under IRC 1061.
Preparation for Foreign Funds/Entities:
• Covering all aspects for foreign partnerships, blocking corporations' tax returns, and analyzing structures for applicable U.S. tax filings.
Seamless Tax Technology:
• Leveraging our proprietary technology, Seamless Tax, to redefine and streamline tax calculations, allocations, and reporting for various fund types.
Conclusion:
Formidium's dedication to delivering comprehensive and specialized tax services, coupled with cutting-edge technology, establishes us as the trusted partner for a diverse clientele. Whether navigating traditional fund intricacies or addressing unique challenges of digital assets, our team is committed to providing industry-leading tax support and client service at every stage of the fund lifecycle. Choose Formidium to ensure precision, efficiency, and cutting-edge technology in managing your tax obligations.
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formidium · 2 years ago
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Strategic Move: Formidium Welcomes John Manley as Chief Marketing Officer to Drive Global Expansion and Innovation in Hedge Fund Technology and Administration
Chicago, December 15, 2023 – Formidium, an influential player in fund administration fund technology and the creator of innovative solutions like CommonSubDocTM (investor onboarding and reporting solution) and SeamlessTM (fund accounting and reporting solution for investment funds), is proud to announce the strategic appointment of John Manley as its new Chief Marketing Officer. This move signifies Formidium's commitment to expanding its reach and enhancing its innovative offering, solidifying its status as an industry pioneer in the global financial market.
Nilesh Sudrania, CEO of Formidium, expressed his enthusiasm: "John is an exceptional addition to our executive team. With a strong background in brand strategy and an impressive track record in award-winning creative campaigns, he is poised to propel Formidium to new heights. His fresh perspective will be invaluable as we enhance our presence in the industry."
With over a decade and a half of marketing leadership, John Manley has catalyzed business growth and increased brand visibility across various media channels. He specializes in data-driven go-to-market strategies and customer segmentation. Known for his integrated marketing expertise and creative vision, Manley’s strategic and innovative approach has consistently yielded substantial results on a variety of verticals.
In his new role, Manley will oversee Formidium's global marketing initiatives from their Chicago Headquarters, focusing on key markets in fund administration for the private investment funds and fintech solutions, including the new initiatives in AI and Blockchain. His comprehensive expertise in brand transformation, marketing strategy, partner collaborations, and digital innovation will further Formidium's mission of solving clients’ ‘tomorrow problems’ today.
"I am excited to join Formidium's innovative, brilliant, and successful team," said Manley. "I have been seeking an innovative business ready to become a beloved brand, and Formidium is poised to grow exponentially once more people in the investment and fund management space know what we can do for them through unparalleled software and services. I look forward to enhancing our market position by leveraging our integrated suite of financial solutions designed to help our clients make informed, efficient investment decisions.
In my short time here, I marvel at the firm’s ability to adapt to new market dynamics and help clients to maintain their edge with the most advanced financial resources in the market. The global team is driven to innovate, fueled by making a net-positive impact with their growing number of clients and partners."
Under Manley's guidance, Formidium anticipates a trajectory of growth given the shifting dynamics among clients and competitors. With the amplification of marketing communications, Formidium will continue to deliver exceptional value to clients and partners alike while continuing to be an active thought-leader and market-maker in fintech and investment solutions.
For media inquiries and more information, please contact: [email protected]
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formidium · 2 years ago
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Announcing the Exclusive Sneak Peek of Our Annual Report: 2023 Formidium Alternatives Fund Recap
Dive into the future of investments with our latest report, 'Fund Trends in Alternatives,' presented by Alts Marketplace. 📊In a landscape where registered funds are on the rise, we unveil a compelling insight— a noticeable gap between the surging number of funds and a declining median asset value. Explore the intricacies shaping the alternatives investment realm. Our comprehensive analysis sheds light on the evolving dynamics that demand your attention in the ever-changing financial landscape. 📈   Key Highlights:   Growing Disparity: Witness the intriguing trend of an expanding pool of registered funds alongside a declining median asset value. Industry Insights: Gain valuable perspectives on the forces steering the alternative investment space. Formidium's Perspective: Understand how Formidium is navigating these trends to deliver optimal value to our stakeholders.   Unlock the insights that matter. Stay ahead of the curve with the 2023 Formidium Alternatives Fund Recap.
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formidium · 2 years ago
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formidium · 2 years ago
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Formidium Marketplace unveils 'Insights'
Formidium Marketplace unveils 'Insights' – a cutting-edge feature designed for fund managers and service providers. Elevate your industry acumen with curated content, expert perspectives, and insightful commentary. A dedicated space for the discerning community seeking unparalleled data. Read the full press release 👉 https://lnkd.in/dFesFb9H For queries email us at: [email protected] #FormidiumMarketplace#AlternativeInvestments#FinanceInnovation
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formidium · 2 years ago
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Exciting times at #AWSReinvent! Join us at Booth #1089 as we showcase how Formidium is pioneering innovation through adaptive investment technology, reshaping the future of finance. Explore our core beliefs, discover our cutting-edge technology & products. 👉 Explore further by swiping, and for those in Las Vegas, let's connect to delve into our offerings. . Book a meeting with our experts:
https://lnkd.in/dvCUeZtG
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formidium · 2 years ago
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Private Equity Fund Tax
Private Equity Fund Tax is part of Formidium's tax services group. We offer a full suite of tax services to solve any complexities and challenges in tax calculations, reporting, and filings for private equity funds. We offer our all-inclusive tax services to a vast network of managers and funds located globally.
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formidium · 2 years ago
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Tax Services
Formidium provides a comprehensive range of tax services, addressing complexities in calculations, reporting, and filings for various funds such as Digital Asset, Hedge, Private Equity, Venture, and SPV. Our all-inclusive tax services support managers globally in over 10 countries.
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formidium · 2 years ago
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Revolutionizing Fund Tax Management with Seamless Tax
In the dynamic landscape of investment funds, efficient tax accounting and allocation have become paramount for success. Enter Seamless Tax, the proprietary tax accounting and allocation technology integrated into our flagship fund accounting software, SeamlessTM. This cutting-edge solution redefines the way capital gains, other incomes, and expenses are calculated and allocated, specifically catering to Crypto/Digital asset funds, Hedge Funds, Venture Funds, Private Equity Funds, and SPVs.
Streamlining Complex Processes
Seamless Tax simplifies the intricate process of federal and state returns preparation, handling tax schedules such as K1s, and managing informational returns like 1099s and 1042s. By automating these tasks, tax professionals and practitioners can redirect their focus towards in-depth tax data analysis and navigating complex tax matters.
Comprehensive Connectivity
With API connectivity to over 160 exchanges and custodians across digital assets, Seamless Tax ensures seamless integration into the fund management ecosystem. It adeptly handles complex allocations and waterfall calculations, including In-kind contributions and distributions of digital assets. The platform processes a wide array of DeFi and CeFi transactions and offers detailed tax lot reporting, encompassing airdrops, mining income, and staking rewards.
Precision in Reporting
Seamless Tax is not just a calculator; it's a comprehensive reporting tool. It generates fund-level taxable income/loss numbers and investor-level tax numbers with precision. The platform produces lot-wise capital gain (loss) reports, breaking down gains (losses) into short and long-term categories. Additionally, it provides a wash sales report based on trades recorded within the system.
Efficiency and Accuracy
One of Seamless Tax's standout features is its meticulous tracking and reconciliation of books vs. tax adjustments. The platform ensures that all investor-level tax allocations are calculated efficiently, incorporating necessary adjustments as per tax provisions. With robust quality controls in place, Seamless Tax guarantees the efficient and accurate processing of tax returns, K-1s, 1099s, and other essential tax schedules required by US tax returns for investment funds.
Empowering Fund Managers
Seamless Tax isn't just a tool; it's a game-changer for fund managers. By automating and streamlining tax processes, it frees up valuable time and resources, allowing professionals to focus on strategic decision-making and navigating the complexities of the ever-evolving financial landscape.
In conclusion, Seamless Tax stands as a testament to our commitment to innovation in the financial technology space. It's not just about managing taxes; it's about transforming the way investment funds operate, empowering them to thrive in an increasingly competitive environment.
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formidium · 2 years ago
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Crypto Fund Tax | Formidium
Crypto Fund Tax at "Formidium's provides comprehensive solutions for digital asset funds. Our global tax services cover calculations, reporting, and filings, supporting hedge and private funds involved in blockchain, mining, staking, NFTs, tokenization, and real estate."
Solutions for Crypto Fund Tax | www.cryptofundtax.com
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formidium · 2 years ago
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Hedge Fund Tax | Formidium
Hedge Fund Tax Services by Formidium: Comprehensive Solutions for Calculations, Reporting, and Filings. Addressing complexities in tax matters for hedge funds across diverse asset classes, including public/private equity, commodities, fixed income, OTC, digital assets, and fund of funds.
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formidium · 2 years ago
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Explore the groundbreaking Formidium Marketplace – transforming alternative investments! Whether you're an investor, fund manager, or service provider, this webinar is your gateway to the future of alternative investment. Don't miss the demo showcasing intuitive features shaping the next era of alternative investments.
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formidium · 2 years ago
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Formidium Marketplace: Alts on Demand and Beyond | Webinar
Welcome to our exclusive first look at the revolutionary Alts Marketplace, set to transform the alternative investment industry! 🎯 Who Should Watch? 1. Investors looking to explore new and diverse investment opportunities. 2. Fund managers aiming to enhance visibility and attract accredited investors. 3. Service providers interested in expanding their reach and collaborating with innovative funds. 4. Anyone intrigued by the future of alternative investments. Webinar Highlights: 1. Introduction to the Marketplace. 2. Benefits for Investors: Learn how accredited investors can access a comprehensive listing of multi-asset fund managers, opening doors to exciting new investment opportunities. 3. Benefits for Fund Managers: Explore how fund managers can elevate their visibility by creating compelling profiles and showcasing their funds to a targeted audience of accredited investors. 4. Benefits for Service Providers: Discover how service providers can gain widespread exposure and collaborate with some of the most innovative funds in the industry. 5. Live Platform Demo: Take an in-depth tour of the Marketplace, exploring its intuitive features and user-friendly interface that make navigating alternative investments a breeze. Ready to take the next step? Visit us: https: https://altsmarketplace.com/ For queries reach out at: [email protected] 
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