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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 29, 2004
Commission file number 0-17691
Krupp Insured Plus-III Limited Partnership
(Exact name of registrant as specified in its charter)
Massachusetts 04-3007489
(State or other jurisdiction of (IRS employer identification no.)
incorporation or organization)
One Beacon Street, Boston, Massachusetts 02108
(Address of principal executive offices) (Zip Code)
(617) 523-0066
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
SEC 873 (6-04) Potential persons who are to respond to the collection of
information contained in this form are not required to respond
unless the form displays a currently valid OMB control number.
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Item 8.01. Other Events
Terminating Capital Transaction Distribution
The Partnership completed the process of winding up its business during
the third quarter of 2004. Upon the occurrence of a Terminating Capital
Transaction, as defined in the Partnership Agreement, the Partnership
Agreement provides that losses from such a transaction, which were
approximately $200,000, were to be allocated first to the Limited Partners
and General Partners to the extent of any then existing positive account
balances (or, if the amount would be insufficient to reduce those positive
capital account balances to zero, then in proportion to any positive
account balances). As of December 31, 2003, the General Partners had
deficit account balances of approximately $408,000 and the Limited
Partners had positive account balances of approximately $16,669,000.
Therefore, all estimated losses from the Terminating Capital Transaction
were allocated, for tax purposes, to the Limited Partners to reduce their
positive capital accounts. Subsequent to this allocation, the General
Partners had a remaining deficit balance in their capital accounts of
$432,780, which included current year distributions. This amount was
contributed to the Partnership by the General Partners on September 27,
2004, was included with other amounts available for distribution from the
Terminating Capital Transaction, and was distributed to the Limited
Partners on September 29, 2004 in a final liquidating distribution of
approximately $0.20 per Limited Partner interest.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Krupp Insured Plus-III Limited Partnership
(Registrant)
BY: /s/ Alan Reese
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Alan Reese
Treasurer and Chief Accounting Officer of
Krupp Plus Corporation, a General Partner.
Date: September 29, 2004
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