United States Commodity Funds LLC announces move to "Electronic K-1s" For Investors in certain Exchange Traded Commodity Funds.

Feb 04, 2013, 09:00 ET from United States Commodity Funds LLC

OAKLAND, Calif., Feb. 4, 2013 /PRNewswire/ -- United States Commodity Funds LLC ("USCF"), the general partner and sponsor of exchange traded commodity funds, including the United States Oil Fund, LP (ticker: USO) and the United States Natural Gas Fund, LP (ticker: UNG), announced new changes to the tax-reporting procedure for the investors in the funds that they sponsor. These new changes, recently referred to in the financial press as "electronic K-1s", can allow an investor to electronically receive their tax reporting document sooner than in prior years while also allowing investors to decline to receive a printed version.

In prior years, investors in USCF's funds had to wait until each fund mailed the Form K-1 ("K-1") document. Under the new procedure, effective for tax year 2012, investors can elect to sign up in advance for electronic notification that their K-1 is ready. Once notified, they can download the K-1 to their computer, print the K-1, or if they use certain tax preparation software packages, they may elect to download the tax data straight into their tax software program. Finally investors can then elect to opt out of receiving a printed version of their K-1.

"The new approach will allow investors to receive their K-1 up to three weeks sooner than under the traditional mailed method" stated USCF's Chief Investment Officer John Hyland, CFA. "Not only is it faster, but it eliminates the risk of somebody stealing their financial data from their mailbox. Finally it is also greener as thousands of K-1s will simply never be printed" he added.

To sign up for free electronic notification, investors should go to:

Investors who do not sign up for the electronic delivery will receive their printed K-1 via mail. The exchange traded commodity funds in this electronic program include:

United States Oil Fund, LP (ticker: USO)
United States Natural Gas Fund, LP (ticker: UNG)
United States Commodity Index Fund (ticker: USCI)
United States Agriculture Index Fund (ticker: USAG)
United States Metals Index Fund (ticker: USMI)
United States Copper Index Fund (ticker: CPER)
United States 12 Month Oil Fund, LP (ticker: USL)
United States 12 Month Natural Gas Fund, LP (ticker: UNL)
United States Gasoline Fund, LP (ticker: UGA)
United States Diesel-Heating Oil Fund, LP (ticker: UHN)
United States Short Oil Fund, LP (ticker: DNO)
United States Brent Oil Fund, LP (ticker: BNO)

For additional information, please call 800-920-0259,or to download a copy for the United States Oil Fund, LP, visit www.unitedstatesoilfund.com/uso-prospectus.php, for the United States 12 Month Oil Fund, LP, visit http://www.unitedstates12monthoilfund.com/documents/pdfs/usl-prospectus-20120730-2.pdf, for the United States Short Oil Fund, LP, visit www.unitedstatesshortoilfund.com/dno-prospectus.php, for the United States Brent Oil Fund, LP, visit http://www.unitedstatesbrentoilfund.com/documents/pdfs/bno-prospectus-20120730-2.pdf, for the United States Natural Gas Fund, LP, visit www.unitedstatesnaturalgasfund.com/ung-prospectus.php, for the United States 12 Month Natural Gas Fund, LP, visit www.unitedstates12monthnaturalgasfund.com/unl-prospectus.php, for the United States Gasoline Fund, LP, visit www.unitedstatesgasolinefund.com/uga-prospectus.php, for the United States Heating Oil Fund, LP, visit www.unitedstatesheatingoilfund.com/uhn-prospectus.php, for the United States Commodity Index Fund, visit www.unitedstatescommodityindexfund.com/usci-prospectus.php, for the United States Copper Index Fund, visit www.unitedstatescopperindexfund.com/cper-prospectus.php, for the United States Agriculture Index Fund, visit www.unitedstatesagricultureindexfund.com/usag-prospectus.php or for the United States Metals Index Fund, visit www.unitedstatesmetalsindexfund.com/usmi-prospectus.php or write to ALPS Distributors, Inc, 1290 Broadway, Suite 1100, Denver, CO 80203.

Distributed by ALPS Distributors, Inc.

This material must be preceded or accompanied by a prospectus. Please read it carefully before investing or sending money.

Commodities and futures generally are volatile and are not suitable for all investors.  These funds are speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in these funds. Some funds that focus on a single sector generally experience greater volatility.

None of the above mentioned funds are a registered investment company so investors do not have the protections of the Investment Company Act of 1940, as amended, and these funds are not subject to regulations thereunder. Accordingly, you do not have the protections afforded by that statute which include, for example: (1) controls over activities of an investment company's investment adviser; (2) an express private right of action for shareholders; (3) restrictions on transactions between the fund and the adviser; (4) restrictions on investments; (5) regulation of adviser services and fees; and (6) capital structure requirements, including restrictions on debt.

Investing in commodity futures interests subjects these funds to the risks of the commodities industry and this could result in large fluctuations in the price of these funds' units.

The price of a fund's units may be influenced by factors such as the short-term supply and demand for commodity futures and the short-term supply and demand for these's units. This may cause the units to trade at a price that is above or below these funds NAV per unit. Accordingly, daily changes in the price of units may substantially vary from the daily changes in the value of the benchmark futures contract. If this variation occurs, then you may not be able to effectively use these funds as a way to indirectly invest in changes in the price of commodities.

For further discussion of these and additional risks associated with an investment in any of these units, see the prospectus that has preceded or accompanied this announcement, downloaded at http://www.unitedstatescommodityfunds.com.

Not FDIC insured, may lose value, no bank guarantee.

An investment in any of these funds is not suitable for all investors.  Commodity trading is highly speculative and these funds are not suitable for all investors.  These funds are likely to be volatile and could suffer from periods of prolonged decline in value.

Units are not individually redeemable and the owners of Units may purchase or redeem Units from a Fund in Creation/Redemption Units only.   

SOURCE United States Commodity Funds LLC