I am in a similar situation as this post. I have received a schedule K-1 for a futures commodities ETF (SOYB and TAGS) that I hold. Box 16 (Schedule K-3 is attached if checked) is checked but won't get the K-3 till June or later. I see that IRS had certain exceptions in 2021. Is there any update for how to navigate through this in 2022? I see here that there is an exemption recommendation saying
New exception to completing Schedule K-3.
Under a new exception, in certain cases, partnerships with no or limited foreign activity are not required to furnish Schedule K-3 to you for tax years beginning in 2022.
How do I find out if I am eligible for this exception? Schedule K-1 -> Part III -> Line 21 for "Foreign Taxes paid or accrued" is empty. Is that sufficient info for assuming exemption?
