---
title: What is the PTP safe harbor?
description: This article describes how transfers of interest work on Sydecar and does not constitute legal or tax advice.
---

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# What is the PTP safe harbor?

## This article describes how transfers of interest work on Sydecar and does not constitute legal or tax advice.

The PTP safe harbor is a set of securities laws that prevent a Sydecar SPV from additional tax liability, which is unsupportable by Sydecar.An SPV stays within the safe harbor if it meets at least one of these:

- **2% limit.** Sales add up to less than 2% of the SPV in a calendar year. Administrative transfers don't count.
- **Beneficial owner count.** The SPV has fewer than 100 beneficial owners. A beneficial owner counts the underlying owners, not only the investors.

When a transfer could put your SPV outside the safe harbor, the Sydecar app will show a warning. You can still submit your transfer, and Sydecar reviews before approving.

Still have questions? Contact our Deal Operations team at [operations@sydecar.io](mailto:operations@sydecar.io).

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