Between your US fund administrator and your German tax advisor, there is a gap that nobody manages. Plainly LP is the coordination layer that fills it — for German and European LPs investing into US venture funds, SPVs, and syndicates.
US withholding tax on all distributions without a correctly filed W-8BEN/E
Additional tax on returned capital when Germany classifies the LLC as opaque
Ownership threshold that triggers phantom taxation on undistributed income
AO Feststellungserklärung: the filing no single LP can complete alone
When a German investor puts money into a US venture fund or SPV, three parties become relevant. None of them talk to each other. None of them are responsible for what happens in between.
The US fund administrator handles US tax and operations. Your German Steuerberater handles your German filing. But the translation between the two — the K-1 preparation, the classification analysis, the §180 AO coordination — sits in a gap that nobody manages.
The consequences are real: withholding tax lost permanently, penalties for unmet filing obligations, phantom income tax on money you have not yet received. Most German LPs investing into US funds are exposed to at least one of these risks today.
Plainly LP sits in the middle. Not a tax firm. Not a fund administrator. The coordination layer that makes everything work.
Investing as an individual into a US venture fund or SPV. The risk profile is significant. Incorrect classification under German tax law can mean double taxation on returned capital, phantom income tax before any exit, or 30% US withholding tax withheld permanently from every distribution.
Investing through a German holding company. The exit tax advantage under §8b KStG is significant — around 1.5% effective rate versus 26.4% for a private investor. But it only holds if the structure is correctly maintained and thresholds are actively monitored.
| 01 | Structural opinion | One-time assessment per fund. Vermögensverwaltung vs. Gewerbebetrieb. Transparent vs. opaque classification and tax consequences. All risks identified and translated into a document your German tax advisor can use. Shared across all German LPs in the same fund, keeping the cost manageable. |
| 02 | Onboarding | W-8BEN/E guidance and filing support. Correct registration with the US fund admin. A structured handover document for your local advisor. §180 AO coordination initiated where transparent classification applies and more than one German LP is in the fund. |
| 03 | Annual service | K-1 preparation and structuring for your tax advisor each year. Unified tax assessment coordination where required. W-8BEN/E renewal tracking. AStG threshold monitoring when new investors join the fund. One annual check-in. One point of contact. |
| 04 | Exit support | Collection of all exit documentation from the GP and fund admin. A structured handover package for your tax advisor. Nothing left to coordinate alone at the moment when it matters most. |
Most German LPs investing into US funds are missing at least three of these twelve items. Some are missing all of them. The consequences range from avoidable — a 30% US withholding tax that should have been zero — to expensive — phantom income tax on money you have not yet received — to genuinely difficult to fix: a filing obligation that has gone unmet for several years.
Covering the Rechtstypenvergleich classification analysis, W-8BEN/E filing requirements, the §180 AO unified tax assessment obligation, AStG threshold monitoring, K-1 preparation, and exit documentation. Twelve items in total. Fifteen minutes to read. Free.
One email. One document. No follow-up sequence. We will only contact you again if you ask us to.
“Education first. Trust first. If we become the group that makes cross-border investing understandable and approachable, the relationships and business naturally follow.”
Plainly LP is building its first cohort of German and European LPs. If you are invested in a US venture fund or SPV, or are planning to invest, we want to hear from you.
There is no commitment and no cost to registering. We will be in touch to understand your situation and whether we can help.
Plainly LP does not provide tax advice directly. All substantive tax analysis and filings are performed by licensed Steuerberater partners. We coordinate, prepare, and connect. A separate company from Finally Fund Admin and Clearly Tax. Registered at plainlylp.com.