582-C: 2025 Form 582-C Eligible Oklahoma Venture Capital Company Qualified Equity Investments (2025)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2025
Oklahoma Form 582-C is an information return for eligible Oklahoma venture capital companies. It reports qualified equity investments received, investments made in eligible Oklahoma business ventures, and investments returned to investors.
Who files this form
Each eligible Oklahoma venture capital company that receives a qualified equity investment under 68 OS Section 2358.110 must file Form 582-C.
The form defines an eligible company as a lawfully recognized business entity whose primary business purpose is to accumulate funds to invest in lawful, for-profit business entities. It may be a general partnership, limited partnership, limited liability partnership, LLC, corporation, or another lawfully recognized business entity.
When it's due
- Form 582-C for tax year 2025: File the information return, including enclosures, by April 30 following the year in which the qualified equity investments were made.
- Additional reporting deadline printed on the 2025 form: The company must make Form 582-I available to all investors by January 31. The text does not specify the calendar year for this deadline.
What you'll need
Gather the following documents and information:
- Annual financial statements for the venture capital company, including documentation showing its methods of operation and business conduct.
- Company details: Name, FEIN, entity type, address, and phone number.
- Qualified equity investments received: Each accredited investor’s name, address, FEIN or SSN, investment date, investment type, and qualified equity investment amount.
- Investments made in Oklahoma business ventures: Each venture’s name, address, FEIN or SSN, investment date, investment type, and amount invested.
- Investments returned: Each investor’s name, address, FEIN or SSN, original investment date, return date, and amount returned. Also provide whether the recipient was a related person or entity, how the accredited investor was related if applicable, and whether the return met the financial performance requirements of 68 OS Section 2358.110(F) or (G).
How to file
- Enter the company’s identifying information and complete the sections for investments received, investments made, and investments returned. Use as many Forms 582-C as needed.
- Include the annual financial statements and documentation about the company’s operations and business conduct.
- Have an officer, general partner, or member sign and date the declaration.
- Mail Form 582-C and its enclosures to:
Oklahoma Tax Commission
Oklahoma City, OK 73194
Form 582-C is a stand-alone form. Do not mail it with any other form.
Common mistakes
- Mailing Form 582-C with another form. The form specifically says it must be mailed as a stand-alone form.
- Leaving out the required financial information. The form states that no deduction is allowed for qualified equity investments made in the company unless the required annual financial statements and business-operation documentation are provided.
- Mailing Form 582-I with another form. The additional reporting requirements also identify Form 582-I as a stand-alone form.
Questions people ask
What counts as a qualified equity investment?
The form defines it as a transfer of cash or its equivalent by an accredited investor to an eligible Oklahoma venture capital company. For purposes of the deduction, the amount cannot exceed $25 million per accredited investor during a taxable year.
Who is an accredited investor?
The form refers to the definition in Section 230.501 of Title 17 of the Code of Federal Regulations. For this deduction, the accredited investor is the person or entity authorized to claim the deduction on their income tax return.
What if there is not enough room to list every investment?
Use as many Forms 582-C as needed.
What must the company provide to its investors?
The company must make Form 582-I available to all investors. It must show the company’s name, the investor’s name, the investment date, and the investor’s total qualified equity investments. The accredited investor mails Form 582-I separately to the Oklahoma Tax Commission, Oklahoma City, OK 73194.