Over on the NAIC treasurer's list it was mentioned that the
correct Business Code for an Investment Club for the 1065 is
523910, not 525990. I notice that bivio uses the later.

-Jim Thomas

Jim Thomas writes:
> Over on the NAIC treasurer's list it was mentioned that the
> correct Business Code for an Investment Club for the 1065 is
> 523910, not 525990. I notice that bivio uses the later.

I'm sorry for not getting back to you wsooner. When I go to irs.gov
and search for 523910, it comes up empty. 523900 might be a
possibility, but we'd like to know why 525990 is incorrect. (I
couldn't find the msg on the treasurer's list. Search on that site
doesn't seem to work the way I would expect it to.)

On http://www.irs.gov/pub/irs-pdf/i1065.pdf you'll find:

525990 Other Financial Vehicles (including closed-end investment
       funds)

523900 Other Financial Investment Activities (including portfolio
       management & investment advice)

Both seem legitimate codes for an investment club.

Thanks,
Rob

Jim Thomas writes:
> Over on the NAIC treasurer's list it was mentioned that the
> correct Business Code for an Investment Club for the 1065 is
> 523910, not 525990. I notice that bivio uses the later.

I'm sorry for not getting back to you wsooner. When I go to irs.gov
and search for 523910, it comes up empty. 523900 might be a
possibility, but we'd like to know why 525990 is incorrect. (I
couldn't find the msg on the treasurer's list. Search on that site
doesn't seem to work the way I would expect it to.)

On http://www.irs.gov/pub/irs-pdf/i1065.pdf you'll find:

525990 Other Financial Vehicles (including closed-end investment
       funds)

523900 Other Financial Investment Activities (including portfolio
       management & investment advice)

Both seem legitimate codes for an investment club.

Thanks,
Rob