---
title: "Distribution Notice | Altss Glossary"
description: "A distribution notice is the formal statement describing an upcoming or completed distribution and its key details."
canonical: "https://altss.com/glossary/distribution-notice"
---

Fund Cashflows & Commitments

# Distribution Notice

Publisher: Altss LLCPublished 2026-01-12Content modified 2026-01-12

A distribution notice is the formal statement describing an upcoming or completed distribution and its key details.

**Allocator relevance:** High — the audit trail for realized cash, DPI math, and characterization (income vs gain vs return of capital).

**Expanded Definition**
Distribution notices specify the amount, date, LP allocation, and often the characterization components and withholding/tax notes depending on vehicle structure. For in-kind distributions, notices detail asset description, valuation approach, and transfer mechanics. Notices are essential for reconciling bank receipts to capital accounts and for verifying quarter-to-quarter cashflow integrity.

**Decision Authority & Governance**
Governance includes timeliness, clarity, consistency with quarterly statements, and transparent characterization rules. Allocators expect notices to align with LPA provisions, reserve policies, and any recall/recycling mechanics.

**Common Misconceptions**

- Bank receipts replace notices (they don’t provide characterization).

- All distributions are profits.

- Notice quality is cosmetic (it’s a trust and control signal).

**Key Takeaways**

- Notices create the institutional audit trail for distributions.

- Characterization improves performance attribution and compliance.

- Consistency with capital accounts is non-negotiable.

## Related terms

[Distributions](https://altss.com/glossary/distributions)[DPI (Distributed to Paid-In)](https://altss.com/glossary/dpi)[Capital Account Statement](https://altss.com/glossary/capital-account-statement)

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