Partnerships such as the Canopy SPVs do not need to file an annual tax return (and distribute K-1s) if the SPV does not have taxable activity.  For SPVs generally, the year of inception will always include an obligation to file a return and distribute K-1s because expenses incurred are considered a "taxable activity." Otherwise, SPVs are dormant from a tax perspective until an exit occurs. 

Thus, for most SPVs, there will be partnership returns (and K-1s) distributed only at inception and at liquidation!