If the withdrawing member was paid out in a two-part withdrawal, with the first part in the previous tax year and the second in the reporting tax year, that member does not get a K-1.

For example, a member's withdrawal is announced on 12/1/2011, then paid out on 1/15/2012. That member received a K-1 for the 2011 tax year, but does not receive one for the 2012 tax year.

Note that the previous year's K-1 for the withdrawing member should have been marked "Final Return", which can be checked by hand.