Schedule K-1 Information FAQs

 

 

2021 Schedule K-3 forms are available online at https://www.taxpackagesupport.com/lazard. The Schedule K-3 is not required to be attached to U.S. federal or state income tax returns. A limited number of investors (primarily foreign holders, investors with a foreign tax credit and certain corporate and/or partnership holders) may need the detailed information disclosed on the Schedule K-3 for their specific tax reporting requirements.  To the extent Schedule K-3 is applicable to your tax return filing, we encourage you to review the information contained on the Schedule K-3 and refer to the appropriate U.S. federal tax laws and guidance or consult with your tax advisor.

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Is Lazard Ltd a partnership and are Schedule K-1s issued for tax purposes?
Lazard Ltd is a Bermuda holding company that is classified as a partnership for U.S. federal income tax purposes. Lazard Ltd’s common stock is listed and traded on the New York Stock Exchange (NYSE: LAZ), Lazard annually issues an IRS Schedule K-1 to its shareholders that reflects the distributions received by each shareholder. All shareholders receive an IRS Form 1065 Schedule K-1, regardless of how long such shareholders own our common stock.
When can I expect to receive the Schedule K-1 information for tax purposes?
Schedule K-1 information is typically available online and mailed in early March of each year. Once the information is available online, please click here to download your Schedule K-1. You can also call our K-1 Hotline at 1 (866) 867-4070 for additional support.
With respect to state taxes, will I also receive a Schedule K-1 from states in which Lazard Ltd operates?
We do not issue any state Schedule K-1s.
Does Lazard provide a Qualified Notice?

Yes, Lazard furnishes two quarterly qualified notices.  Upon each quarterly distribution, Lazard provides a qualified notice that describes the sources and character of the distribution it pays on its Class A shares.

Lazard also furnishes a quarterly qualified notice under Treasury Regulations section 1.1446(f)-4 that the “10% exception” applies to Lazard, as determined under 1.1446(f)-4(b)(3)(ii), and transfers by non-U.S. shareholders of Lazard Ltd Class A shares would be exempt from withholding tax under Treasury Regulations §1.1446-4(f)-4.

Our qualified notices are posted on the DIVIDEND HISTORY page of our website.

How do I obtain a copy of my Schedule K-1?
A hard copy is mailed to all current and former shareholders who owned our common stock at any point during the preceding calendar year. In addition, you can obtain a copy of your Schedule K-1 electronically by accessing the Tax Information page of this website.
Where do I find historical information and qualified notices for distributions?
You can view this information by accessing the Dividend History page of Lazard's website. Our qualified notice typically provides details regarding the U.S. and foreign-sourced distributions we pay as well as information regarding the portion of any distribution treated as a dividend or return of capital.
Are distributions subject to withholding tax?

Our distributions are typically not subject to withholding tax for U.S. resident shareholders, but non-U.S. shareholders generally would be subject to U.S. withholding tax on any U.S.-source dividend distributions we pay. The rate of withholding for a non-U.S. shareholder on such distributions would depend on the shareholder’s own tax profile, but generally the rate would be at least 15%. Please consult your tax advisor for specific information regarding your individual tax status and the tax consequences of owning our shares.

Are Lazard Ltd’s distributions considered "qualified ordinary dividends"?
Yes, the distributions we pay are considered “qualified ordinary dividends” and we have historically provided a quarterly Qualified Notice of Withholding Information which you can review on the Dividend History page of this website.
For our tax-exempt investors, can you confirm that you do not generate any UBTI?
Lazard Ltd does not generate any unrelated business taxable income (UBTI) and our current organizational structure prevents UBTI from being received by tax-exempt holders of our common stock.
Whom do I contact with questions regarding my K1?
K1 Hotline Number: +1 (866) 867-4070
Why did I receive a Schedule K-1 for my retirement plan's account?
Federal tax law requires that a Schedule K-1 be sent to every shareholder who held a partnership interest during the tax year. While assets held in tax advantaged retirement accounts (Roth IRA, Traditional IRA, 401(k), etc.), generally are not reportable on your income tax return, this Schedule K-1 is being furnished to you in case your retirement account has a filing obligation as a result of income from other sources. Please contact the custodian of your account to determine who is responsible for filing the appropriate tax forms.
Does Lazard meet the definition of "Qualified PTP"?
Yes, Lazard is a QPTP within the meaning of tax code section 851(h). We do not generate income based on commodities, royalties, rentals or real estate.

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