You may mail the tax return. Some are choosing to "uncheck" the box indicating that a K-3 is attached so that you can electronically file now. But in that case, you may need to amend your tax return at a later time.
The IRS announced on February 16, 2022 that most K-3 reporting for 2021 can be delayed until the 2022 tax return filing, but they have not indicated how individual taxpayers should proceed.
This is an extract of the IRS announcement:
"The IRS intends to provide certain additional transition relief for this year from the Schedule K-2 and K-3 reporting for certain domestic partnerships and S corporations with no foreign activities, foreign partners or shareholders, and without knowledge of partner or shareholder need for information on items of international relevance. For 2021, these qualifying domestic partnerships and S corporations will not have to file the new schedules. We are taking this step in response to feedback we received from the tax community and our stakeholders. The IRS will provide full details of this relief soon."
See also this IRS FAQ.
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