New York, London – 10 April 2025: Sonata One (formerly IDR), the private funds clearinghouse, has enhanced its tax capabilities with two new services. Building on its well established end-to-end FATCA CRS solution, this new functionality delivers a seamless, one-click solution for tax document generation.
Key highlights:
- Launch of two new tax services – Next Generation Tax Form management (including W-Form automation) and Withholding tax services.
- Streamlined process for both investors (generate forms directly from their profile) and fund managers (achieve scalable global compliance).
- Developed in-house by Sonata One’s dedicated tax technology team to address long-standing operational pain points in private markets tax compliance
Robin Silverthorne, Tax Services Director at Sonata One explains:
“Managing the complexities of tax forms has long been a pain point for fund managers and investors, largely due to the inherent complexity of information for investors to navigate, and serious volumes of data to manage. Sonata One’s platform, sophisticated tax dashboarding and extensive private markets network put us in a unique position to solve this. By leveraging the investor data we already hold, we’ve simplified tax document generation to a single click.”
Sonata One connects a rapidly growing network of more than 53,000 investors, approximately 50% of the world’s private markets investors, with 6,500+ funds. Investors benefit from a single authentication across subscription, KYC and Tax while fund managers enjoy faster, more cost-effective capital raising and streamlined regulatory compliance.
Robin continues:
“What truly sets our solution apart is the combination of a deep pool of pre-approved, globally compliant investor data and the expertise of our team and truly simple investor friendly tech. Fund managers gain clear, real-time visibility into all their tax and regulatory obligations via one platform. Our team is also on hand to support tax authority and counterparty interactions, further expediting the entire process.”
Tim Andrews, CEO Sonata One added:
“Since our inception in 2015, our vision has been to harmonise the private markets investment process into one seamless platform. The launch of these enhanced tax services addresses a long-standing industry challenge, and we’re already seeing strong adoption from our existing clients. More broadly, this launch marks another key milestone in our journey toward becoming the single point of access to the private markets.”
About Sonata One
Sonata One is the private funds clearinghouse, connecting more than 53,000 investors with 6,500 funds and 180 fund managers around the globe. We’re simplifying private markets investing with an end-to-end solution for fund selection, subscription, settlement, and reporting. Investors benefit from a seamless one-and-done experience across the fund lifecycle, underpinned by a unique globally compliant KYC passport and 24/7 support. Fund managers can raise capital faster at a lower cost from a wider pool of pre-approved investors. Founded in 2015, Sonata One has a presence in eight locations worldwide including the US, UK and Luxembourg.
More information
Media contact: Tabatha Fenn – [email protected]
Website: www.sonataone.com
