I not certain about whether to make the consolidated audit
election and file Form 8893 for our investment club with 10
members.
Assuming we decide to do so, is the form and signatures
required each year?  Or can the form be signed once and
continue to be effective?  Assuming the form and signatures
are required only once, what tax year dates should be
included?

Don't do it. Once signed the form will need to be signed again if you get any new partners. The consolidated audit election really doesn't benefit anyone other than the IRS.

 

Ira Smilovitz