Tel:416-956-5129 Register now to read this article and more for free. Am I subject to U.S. tax withholding under IRC Section 1446(f) on the disposition of Brookfield Infrastructure Partner units? FFO excludes the earnings associated with the sale of various assets, which generated approximately $2 billion of net proceeds for Brookfield Infrastructure in 2021. Description. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructures businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favourable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics such as the COVID-19 on our business and operations (including the availability, distribution and acceptance of effective vaccines, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions referred to in this press release as being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under Risk Factors in Brookfield Infrastructures most recent Annual Report on Form 20-F and other risks and factors that are described therein. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Altitude : 350 m. Cliquez pour afficher le (s) numro (s) 04 94 90 88 . Management uses funds from operations per unit (FFO per unit) as a key measure to evaluate operating performance. To explore Brookfield Infrastructure Debt Fund IIs full profile, request access. 150 Royall St., Suite 101 Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. Please also see a letter from counsel on this issue below, as well as more detailed discussion on this new rule and its applicability to BIP units. We do not expect non-U.S. investors to be subject to U.S. tax withholding under IRC Section 1446(f) on the disposition of their units. The net income and Funds from Operations1 (FFO) of BIPC are captured in the Partnerships financial statements and results. www.taxpackagesupport.com/brookfield. BMU identifies the source of the income as Bermuda. 1. The fund prefers to make impact investments in infrastructure. A link has been emailed to you - check your inbox. We have since achieved considerable growth through operational improvements and the addition of product lines. Type of Filing 8. Who applies the withholding tax? We own and operate assets across the transport, data, utilities and midstream sectors with a focus on cash flow stability and resilience. Reg. Is Brookfield Infrastructure Partners considered Passive Foreign Investment Company (PFIC) or Controlled Foreign Corporation (CFC)? Unitholders are solely responsible to accurately compute and track the tax cost of their Brookfield Infrastructure Partners units. For the purpose of reporting foreign property by Canadian investors, pursuant to section 233.3 of the Canadian Income Tax Act, Brookfield Infrastructure Partners is not a specified foreign property and therefore does not need to be reported on Form T1135 Foreign Income Verification Statement. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by BIP on its units. Reconciliation of Net Income to Funds from Operations, Brookfield Infrastructure Partners L.P. Brookfield Infrastructure Partners is required to use reasonable efforts to send a Schedule K-1 to all unitholders, including those who may not require it. Issuer Size 6. Brookfield Infrastructure Partners has not been and does not expect to be engaged in a U.S. trade or business within the meaning of Treas. Receipt of a Schedule K-1 does not trigger a U.S. tax return filing obligation or indicate that one is required. We expect to provide Schedule K-1 tax information via our online portal by mid-February and to have those forms mailed to our U.S. unitholders by the end of March. No, Brookfield Infrastructure Partners has not and is not expected to generate effectively connected income (ECI) or commercial activity income (on a global basis). Inter Pipeline owns and operates energy infrastructure assets in Western Canada including the Heartland Petrochemical Complex. What Tax Form will I receive as a U.S. Unitholder? Because the withholding tax process is administered by the brokerage community rather than us, taxes withheld are only reported on Forms 1099-INT and 1099-DIV (and not on Schedule K-1). The filing notes that the amount raised includes separate accounts that invest alongside the fund and commitments from the sponsor that may be satisfied through or alongside the fund. We do not expect non-U.S. investors to be subject to U.S. tax withholding under IRC Section 1446(f) on the disposition of their units. Computershare Shareholder correspondence should be mailed to: 2023 PitchBook. A filing with the Securities Exchange Commission shows that Brookfield Infrastructure Debt Fund II has closed. enquiries@brookfield.com North America: 1-866-989-0311 Global: 1-416-363-9491 Transfer Agent For enquiries regarding unit transfers, changes of address, distribution cheques and lost unit certificates, please contact: Computershare The Schedule K-1 is the U.S. equivalent of a Form T5013. or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its . Please check your spam or junk folder just in case. For Canadian residents, the tax cost of units is determined in Canadian dollars so all three components should be determined in Canadian dollars. In 2021, we acquired Inter Pipeline, a strategic long-haul pipeline network with interests in petrochemical facilities and bulk storage assets. 1.1446(f)-4(b)(3)(ii)(A)(2). Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe. Summit DigiTel is a portfolio of more than 150,000 communication towers that form the infrastructure backbone of Reliance Jios telecom business. This price environment and record storage volumes following extraordinary performance in the first quarter of the year led to same-store growth of 43%. 5 Place du March A. Rousset. www.computershare.com/investor, Brookfield Infrastructure Federal Exemption (s) and Exclusion (s) Claimed (select all that apply) 7. Brookfield Infrastructure Partners L.P. does not have sufficient information to track the tax cost of units for each individual holder. Yes, the T5013 Form you receive should include all information that is required by law for you to e-file your Canadian personal tax return. Note: This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. What does box 135 signify? P.O. If your units are held in an IRA, you generally do not need to report the amounts on your K-1 and you should keep your K-1 for your records. For overseas calls please dial +1-409-216-0834, at approximately 8:50 a.m. Eastern Time. The words will, target, future, growth, expect, believe, may, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. The firm has already begun marketing the fund, which may exceed the . Note: This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Historically, our partnerships income has included Canadian and US source interest and dividends earned from subsidiaries that, when paid to an Australian unitholder, are subject to varying rates of U.S. and Canadian withholding taxes ranging from nil to 30%. The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein. FFO for the transport segment was $701 million, an improvement of nearly 20% compared with the prior year. Ascenty serves the worlds largest IT and cloud service providers with world-class infrastructure and a high-capacity fiber-optic network. Brookfield Infrastructure Partners has not been and does not expect to be engaged in a U.S. trade or business within the meaning of Treas. Current year results also reflect elevated commodity prices across our existing businesses. Reg. Non-U.S. investors that own 5% or less of Brookfield Infrastructure Partners publicly traded units should not be subject to FIRPTA taxation on a disposition of their units. The fund is located in New York, New York. Fund Investors. After the end of Brookfield Infrastructure Partners' taxation year (December 31), the U.S. taxable income of Brookfield Infrastructure Partners is determined and allocated to all unitholders that are in turn required to report such income on their respective tax returns. Learn more about the launch of our publicly listed pure-play Alternative Asset Manager. The T5013 form does not require us to report a NAICS code but it would seem some personal software tax programs ask for them. Brookfield Infrastructure Partners is a flow through entity for Canadian income tax purposes, and its income comes from holding companies the partnership owns. Am I subject to U.S. tax withholding under IRC Section 1446(f) on the disposition of Brookfield Infrastructure Partner units? Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BIPs units and the combined business performance of our company and BIP as a whole. Investors, analysts and other interested parties can access Brookfield Infrastructures 2021 Year-End Results as well as the Letter to Unitholders and Supplemental Information on Brookfield Infrastructures website under the Investor Relations section at www.brookfield.com/infrastructure. The NAICS codes should have no impact on the computation of your taxes. Sec. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 1, Series 3, Series 7, Series 9, Series 11, Series 13 and Series 14 have also been declared, as well as the dividend for BIP Investment Corporation Senior Preferred Shares, Series 1. While Brookfield Infrastructure Partners is a Bermuda partnership, its income comes from holding companies the partnership owns. Brookfield Infrastructure Partners has issued qualified notices in accordance with Treas.
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