How to report Hedge Fund on 5500 Sched H

[ERISA1]

On what line of Form 5500, Schedule H would you report the value of a private hedge fund?  Investors are not partners, the fund is not a registered investment, it is not a trust. Would you report it as a joint venture?

Thanks for sharing your thoughts and experience.

[My 2 cents]

Other (line 15)?

[NJ Mike]

Wherever the auditor wants to put it.

Mike

[ERISA1]

Thanks

[BeckyMiller]

It surprises me that it is not structured as a partnership. That is by far the most common ownership structure of a domestic U.S. hedge fund.  The manager is typically a general partner and the investors are limited partners.  I would have the client go deeper into the documents that they signed.  Or just ask for the tax documents - typically they get a form 1065, Schedule K-1 for a hedge fund, though it may not look like the government form.  It may be a white paper surrogate form.  If it is an international fund, different structures may apply.  See: https://www.riveleslawgroup.com/launching-a-hedge-fund-legal-and-practical-considerations/