FO-07 — Investor Tax Statement

The issued-and-filed tax reporting document the fund or its transfer agent produces for an investor at the close of a tax year — the filed artefact of record for investor-level tax reporting obligations (1099-DIV/B, K-1, 1042-S, UK tax vouchers, FATCA/CRS per-investor classification reports, and equivalents).

Specialises: E-15 Document Metadata. The investor tax statement is a filed document of record: it has a document type (form_type), a subject (the investor), a filing date, and a lifecycle (prepared / filed / corrected / superseded). Each FO-07 row is one statement for one investor for one tax year, as issued. It references the figures of record that produced it — FO-03 Investor Unitholding, FO-05 Fund Distribution Event, FO-04 Dealing Order, and E-32 Tax Lot — rather than duplicating any of those figures.

Why E-15 Document Metadata, not E-05 Transaction or the computed-figure family. A tax statement is a filed document of record, not a holding-changing event. E-05 Transaction is the universal investment event — anything that changes a holding, from which positions are derived. A tax statement changes no holding, settles nothing, and has no counterparty in the transactional sense; almost no E-05 column (transaction_type, portfolio_id, instrument_id, quantity, amount_usd, settlement_date, counterparty_entity_id) maps coherently to a tax statement. The correct parent is E-15 Document Metadata — the entity that models filed documents of record. E-15’s document_type, subject_type, subject_id, and filing_date map directly to FO-07’s form_type, investor, and filing_date. E-15’s scope covers both source documents received by the firm and documents issued by the firm; the investor tax statement is the issued case. The computed-figure family (E-07 Valuation, E-19 Risk Measurement, E-20 Performance Result, FO-06 Fee Accrual) is also not the parent: the reported figures in FO-07 are derived-at-issue snapshots and not the entity’s essence — the entity’s essence is the filing metadata and the correction chain, which are attributes of the filed document, not of a computed result.

Why this is a stored entity and not a derived design note. The figures that feed an investor tax statement (distributions, gains, income, withholding) all derive from FO-05, FO-04, FO-03, and E-32. The investor’s tax obligation as computed from those figures is derivable. But the issued document and its filing status are not derivable from the underlying figures: whether the 1099-DIV has been filed, whether a corrected 1099 (re-issued with the CORRECTED checkbox) has been issued, the IRS submission reference, the tax year, the form type, and the FATCA/CRS reporting classification for this investor in this period — these are attributes of the filed artefact, not of the underlying transaction events. The filing itself (submitting to the IRS, to HMRC, to the OECD exchange) is a manager-side obligation with its own liability; the proof-of-filing is the record. The same SSOT principle that makes a filed NAV-per-unit record distinct from a recomputed figure applies here: the filed tax statement is the figure-of-record, not the computation that produced it.

Purpose

A fund that issues securities to investors acquires tax-reporting obligations that run at the investor grain. For a US-resident investor in a mutual fund: the fund’s transfer agent or administrator issues a 1099-DIV (ordinary dividends and qualified dividends), a 1099-B (proceeds from redemptions, with cost basis and holding period for funds that track lot-level data), and a 1042-S for foreign-person withholding where applicable. For an LP investor in a partnership-structured fund: the fund issues a K-1 (Schedule K-1 of Form 1065) carrying the investor’s distributive share of income, gain, loss, deduction and credit. For cross-border reporting: the fund’s FATCA classification and the OECD CRS per-investor report are issued to the relevant tax authority.

Each of these is a filed document with a tax authority or a legal obligation to furnish to the investor. It carries a filing date, a correction status, a form type, and in many cases an IRS or revenue-authority submission reference. The figures inside it derive from the fund’s records (distributions from FO-05, redemption proceeds from FO-04, cost basis from FO-03 and E-32); the document’s existence and its filing status do not.

FO-07 is the manager-side record of what was issued and filed. It stores the filing metadata, references the underlying figure-of-record entities that fed the computation, and carries the correction lifecycle. It is the proof-of-issue the firm’s tax function (SD-17.4) needs to demonstrate it has met its investor-tax-reporting obligations.

FO-07 is distinct from:

• FO-05 Fund Distribution Event — the income distribution declaration and pay event. FO-05 is the event record; FO-07 references FO-05 distributions to characterise the income as ordinary, qualified, return-of-capital, or capital gain in the tax statement.
• FO-04 Dealing Order — the subscription, redemption, transfer or switch event. FO-07 references FO-04 redemption events where the statement must report proceeds and cost basis.
• FO-03 Investor Unitholding — the register position. FO-07 uses FO-03 to identify the investor and their period-opening and period-closing holding.
• E-32 Tax Lot — the per-lot cost basis and holding period record owned by SD-12.17. FO-07 references E-32 for the cost-basis and holding-period computation that populates the 1099-B or K-1 gain/loss lines; it does not duplicate the lot records.
• SD-16.3 Regulatory Reporting & Filings — SD-16.3 is the regulatory filing function (the submission to the regulator). FATCA and CRS reports are investment-tax-reporting obligations that sit with SD-17.4; SD-17.4 produces FO-07 and routes the filing through SD-16.3 where a formal regulatory-filing workflow is required.

Attribute schema

Identity and relationship

Filing metadata

Reportable figures (by reference, not by duplication)

Effective-dating

Notes

• Append-only and correction-chained. Once issued, a tax statement record is not overwritten. A correction (e.g. a corrected 1099 or K-1) is a new FO-07 row with filing_status = corrected and corrects_statement_id pointing to the original. The chain of originals and corrections traces the complete filing history. This matches the append-only discipline of the computed-figure-of-record family (E-07, E-19, E-20, FO-06).
• Figures are derived-at-issue snapshots, stored for the filing audit trail. The total_ordinary_income, total_qualified_income, total_capital_gain, cost_basis_reported, and withholding_reported columns carry the amounts as reported on the filed statement — the figures that appeared on the document furnished to the investor or filed with the tax authority, derived from FO-05, FO-04, FO-03, and E-32 at statement-generation time. They are not recomputed on read. The non-derivable residue — the form_type, filing_status, corrects_statement_id, submission_reference, tax_classification, and filing_date — is what makes FO-07 a stored entity rather than a design note: those attributes are properties of the issued document, not of the underlying events. The reported figures are stored alongside them as the snapshot that was actually furnished; they cannot be reconstructed from the underlying entities alone because the characterisation (ordinary vs qualified, short-term vs long-term) depends on an as-of-issue judgement by the tax function. The SSOT for the underlying events is FO-05, FO-04, FO-03, and E-32; FO-07 stores the rendered snapshot that proves what was filed.
• One row per (investor, fund, form type, tax year). The primary grain is the (investor, fund, tax year, form_type) combination. A US-resident investor in a fund that issues both a 1099-DIV and a 1099-B will have two FO-07 rows for the same tax year.
• Register grain. FO-07 is at the legal-holder-of-record grain (the omnibus or direct investor), consistent with FO-03 Investor Unitholding. Look-through to underlying investors within an omnibus account is outside this entity’s scope; the fund’s reporting obligation runs to the legal holder of record.

Out of scope

• The underlying transaction events (distributions, redemptions, withholding tax captures) — those are FO-05, FO-04, and E-06. FO-07 references these; it does not reproduce them.
• The lot-level cost-basis and holding-period computation — that is E-32 Tax Lot (SD-12.17). FO-07 carries the aggregate reported figure; the lot detail is E-32.
• The submission of the FATCA or CRS report to the tax authority as a regulatory filing — that is SD-16.3 Regulatory Reporting & Filings consuming SD-17.4’s output. FO-07 is the statement-of-record; SD-16.3 handles the formal filing workflow.
• The firm’s own corporate tax returns — that is SD-17.5 Corporate Tax. FO-07 is investor-facing tax reporting; SD-17.5 is the firm’s own tax compliance.
• The K-1 at fund of funds or feeder-fund grain — where a fund of funds issues K-1s to its LPs and also receives K-1s from the underlying funds it invests in. FO-07 is the K-1 the fund issues to its LPs; the K-1s the fund receives from underlying funds are an input to the computation (they flow into SD-17.4’s tax-characterisation work) and are represented as Document Metadata (E-15) or raw inputs to SD-17.4, not as FO-07 rows.

Owned and consumed by

• Owned by: SD-17.4 Investment & Portfolio Tax — the investment-tax function sets the tax-characterisation framework, runs the FATCA/CRS classification, produces the investor-facing tax documents, and owns the filing lifecycle. FO-07 is the record it issues and is sole owner.
• Consumed by: SD-16.3 Regulatory Reporting & Filings (the formal submission of FATCA/CRS reports to the relevant tax authority — SD-16.3 consumes FO-07 to feed the regulatory-filing workflow for per-investor tax reports); SD-12.15 Transfer Agency & Investor Dealing (the transfer agent populates the investor’s year-end tax reporting pack, using FO-07 as the statement of record to accompany investor account statements); SD-15.14 Client & Investor Reporting (the tax statement is furnished to the investor as part of the annual reporting pack — SD-15.14 includes FO-07 in the investor’s annual communication).

FIBO alignment

Partial — structural alignment at the investor-document level; the filing-status lifecycle and form-type taxonomy are OpenIM.

FIBO’s published ontologies (as of the current FIBO namespace suite) do not define a TaxStatement or InvestorTaxReport class. The closest structural alignments are to the FIBO Financial Instruments (fibo-fbc) and Foundations (fibo-fnd) layers at the conceptual level:

• The investor (E-01) aligns to FIBO’s legal-person and account-holder constructs.
• The document lifecycle aligns conceptually to FIBO’s cmns-doc:Document (OMG Commons v1.2 — the current location of the generic Document class) and fibo-fnd-arr-lif:LifecycleStage constructs at the generic level.
• No specific FIBO class maps to the 1099-DIV, K-1, 1042-S, or CRS-report filing constructs; no FIBO curie is asserted for FO-07 — no invented curie is asserted.

What FIBO does not model, and what FO-07 adds:

• The filing-status lifecycle (prepared / filed / corrected / superseded) with the correction-chain reference.
• The form-type taxonomy mapping to IRS and CRS regulatory regimes.
• The register-grain issued-document record — the proof-of-issue that demonstrates the investor-tax-reporting obligation was met.

Open extensions

• The sub-investor look-through for omnibus registrations — where the legal holder of record is an intermediary, the per-underlying-investor tax records below FO-07.
• The multi-jurisdiction extension — where a single investor has tax obligations in multiple jurisdictions in the same tax year, and the fund must produce multiple form types; the form_type enum would be extended.
• The digital-filing receipt sub-model — the FATCA IDES submission acknowledgement, IRS FIRE system confirmation codes — where regulatory e-filing systems return machine-readable receipts.