K-1 Information Click Here to sign up for electronic delivery of your 2020 K-1s. K-1 FAQ's Q: I didn't receive any cash distribution on my Shares. Why are there reportable items on my Schedule K-1 that are subject to tax? A: No U.S. federal income taxes are paid by the funds. Instead, the funds file an annual information return and each Shareholder is required to report on his/her U.S. federal income tax return his/her allocable share of the income, gain, loss and deduction of the funds. The funds have not made and do not intend to make any distributions; this means Shareholders are required to report their allocable share of income whether the income is distributed or not. Q: Why do I receive a Schedule K-1 rather than a Form 1099? A: Since the funds are treated as partnerships for U.S. Income Tax purposes, the information is required to be reported on a Schedule K-1 instead of a Form 1099. Q: Why didn't I receive my Schedule K-1 by January 31, which is the date required for distribution of Forms 1099? A: The funds strive to provide the Schedule K-1 information as early as possible, typically by the second week of March. The Funds must obtain information regarding ownership interests bought and sold during the year from brokers and nominees. Much of this information is not provided to the funds until late January. This information is reviewed and then processed with other information resulting in printing and mailing during March. In general, the funds are required to provide this information by March 15th, or September 15th if an extension is requested. Q: Why doesn't my financial advisor/accountant/broker receive this information for my account? A: This information is only sent to the address associated with the account in which the Shares of funds are held. Currently, it is the obligation of the funds to provide the information directly to the Shareholder. The funds are not able to accommodate any special or duplicate mailing requests. Q: If I purchased Shares, what is my tax reporting responsibility for this investment? A: Please consult a tax professional. Generally, any income, capital gain/loss, expense and other items reported to you on the Schedule K-1 must be included in your tax return. Q: If I sold Shares, what is my tax reporting responsibility for this transaction? A: Please consult a tax professional. Generally, your gain/loss on the sale of Shares must be included in your tax return. The sales schedule reflects sales of your Shares and includes related adjustments to your tax basis. Q: How is my tax basis determined for computing gain or loss? A: Your tax basis is generally the original amount paid for the Shares adjusted as follows: Increased by the allocable share of income and gain reported to you on the Schedule K-1 Reduced by the allocable share of expense and loss reported to you on the Schedule K-1 Please consult a tax professional. Q: Is any of the allocated income Unrelated Business Taxable Income (UBTI) to tax-exempt investors? A: Not under current federal income tax laws. Back to Top Our Company Disclosures Definitions Terms of Use Careers K-1 Information Privacy Site Map Stay Connected NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE This information is intended for U.S. residents. One cannot invest directly in an index. USCF is a registered service mark of United States Commodity Funds LLC. United States Commodity Funds LLC and USCF Advisers LLC are wholly owned limited liability companies of Wainwright Holdings, Inc. ALPS Distributors, Inc., is the distributor for funds sponsored by the United States Commodity Funds LLC and funds that are series of the USCF ETF Trust and not affiliated with USCF Investments or Wainwright Holdings, Inc. Shares of the funds that are exchange-traded products (ETPs) or exchange-traded funds (ETFs) are not individually redeemable and owners of any Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations of 50,000 or 100,000 Shares. Investments contain a heightened risk including market and price movements that are outside the Fund’s control and may be influenced by infectious disease outbreaks, including Covid-19, weather and climate conditions, livestock disease, war, terrorism, political conflicts and economic event, interest rates, currency exchange rates, U.S. and non-U.S. government regulation and taxation Investments held in U.S. government securities and money market instruments can suffer losses. EXCHANGE TRADED PRODUCT DISCLOSURES We advise you to consider a Fund's objectives, risks, charges and expenses carefully before investing. Download a copy of a Fund's Prospectus by clicking one of the following: USCI, USO, USL, BNO, UNG, UNL, UGA, CPER which contains this and other information, or contact the Fund’s distributor at: ALPS Distributors, Inc., 1290 Broadway, Suite 1000, Denver, Colorado 80203 or call 800-920-0259. Please read the Fund’s Prospectus carefully before investing. USCI, USO, USL, BNO, UNG, UNL, UGA, and CPER are commodity pools regulated by the Commodity Futures Trading Commission. These Funds, which are ETPs, are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Past performance does not guarantee future results. Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing. INVESTING IN USO INVOLVES RISKS SIMILAR TO THOSE INVOLVED WITH AN INVESTMENT DIRECTLY IN THE OIL FUTURES MARKETS, BUT IT IS NOT A PROXY FOR TRADING DIRECTLY IN THE OIL MARKETS AND THESE RISKS ARE REAL. Investing in USO also involves correlation risk. Recent and unprecedented volatility in the crude oil markets in 2020 demonstrates that these risks are real. An investor should consider carefully the risks described below before making an investment decision. See the section of the USO prospectus titled “Risk Factors Involved with an Investment in USO.” Certain of these risk factors are summarized in the Disclosures section of this website. EXCHANGE TRADED FUND DISCLOSURES We advise you to consider a fund's objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund's Prospectus by clicking one of the following: SDCI, UMI, GLDX. Please read any Prospectus carefully before investing. An investment in the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI), the USCF Midstream Energy Income Fund (UMI) and the USCF Gold Strategy Plus Income Fund (GLDX) may not be suitable for all investors. Investing involves risks, including loss of principal. The market value of shares of common stock can be volatile and change quickly. There is no guarantee that the fund's objective will be met. Fund concentration generally leads to greater price volatility. Foreign investing involves special risks such as currency fluctuations and political uncertainty. Investment in small companies generally experience greater price volatility. Past performance does not guarantee future results. Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing. SDCI, UMI, and GLDX shares are not individually redeemable. Individual investors must buy and sell SDCI, UMI, and GLDX shares in the secondary market through their brokerage firm. Brokerage commissions may apply and will reduce returns. UMI and GLDX are new and have a limited operating history. © 2021 USCF | All rights reserved.