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A. The following categories of partners shall be subject to the reporting and payment requirements specified in § 58.1-399 , entitled to make elections as provided in § 58.1-399 , and entitled to elect an alternative reporting and payment method as provided in § 58.1-399 : 1. Any direct tiered partner of an audited partnership; 2. Any indirect tiered partner of an audited partnership; and 3. Any partner of a partner specified in subdivision 1 or 2. B. A partner subject to the provisions of subsection A shall make required reports and payments no later than 90 days after the time for filing and providing statements to tiered partners and their partners pursuant to the provisions of § 6226 of the Internal Revenue Code and any regulations promulgated thereunder. The Department may establish procedures and deadlines for reports and payments required pursuant to this section. 2020, c. 58.1-399 .
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