Locked Demographic Information

Describe your idea. The more information you provide, the clearer picture of your idea we will have.

This idea is to lock the demographic information of Investors/Partners so that Investors/Partners are unable to edit such demographic information during their annual submissions where they provide information and make their tax elections

How will this idea help you and potentially others? Understanding how things are done today, where the pain is, and how the idea is beneficial puts us in your shoes.

This idea will prevent those investors/partners who cannot be trusted with submitting accurate information from editing their demographic information from what is correct to something that is incorrect. As a K1x Client, I spent a lot of time making sure that my partners demographic information is correct in K1x only for them to muck it all up when they fill out their annual questionnaires. I then have to reach out to all those who made changes and confirm that the change they made is correct. Oftentimes, they should not have made the change to tax type or address or name. We cannot trust our partners. So we would prefer to set up the portals and have the demographic information locked. If there truly is an error, then the partners can contact us and report it to us. That would be a much better process then letting them take a wrecking ball throught the information.

Who will benefit from this idea? Whether it's specific roles of users, users of a specific product, or certain departments/markets, this helps us know who to talk to when we need more information.

Everyone. K1x Clients. Partners. Third Party Preparers. Clean Data benefits all.

How do you envision this idea being implemented at K1x? You're the expert and understanding how you see this working helps kickstart the idea.

Partners cant be trusted to fill out their portals correctly. The list of mistakes are endless. They could have the wrong tax year in mind. They could be mistaken about whether they're invested as an Individual or via their trust. It should be the K1x Client's decision whether to allow partners to be able to edit their demographic information in K1x as part of their annual submissions.