Company: TDBCP
Filing Date: 2025-04-03
Form Type: 424B3
Source: 0001140361-25-012065
Chunk: 39

Company: TORONTO DOMINION BANK
Filing Date: 2025-04-03
Form: 424B3
Chunk 39
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 may describe the principal Canadian federal income tax considerations relevant to a Non-resident Holder owning ARNs which shall, to the extent so described or to the extent inconsistent with the accompanying prospectus, replace or modify the description in the accompanying prospectus. PS-32 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES General The U.S. federal income tax consequences of an investment in ARNs are uncertain. There are no statutory provisions, regulations, published rulings or judicial decisions addressing the characterization for U.S. federal income tax purposes of how certain securities such as ARNs should be treated for U.S. federal income tax purposes and we do not plan to request a ruling from the IRS. The following is a general description of certain material U.S. federal income tax consequences of the ownership and disposition of ARNs and does not purport to be a complete analysis of all tax considerations relating to ARNs. The following discussion is based upon the Code, final, temporary and proposed Treasury regulations, rulings and decisions, in each case, as available and in effect as of the date of this document, all of which are subject to change, possibly with retroactive effect. Tax consequences under state, local and non-U.S. laws are not addressed herein. The applicable term sheet will contain a further discussion of the U.S. federal income tax consequences applicable to that offering of ARNs, which may differ from the discussion herein. The discussion of the U.S. federal income tax consequences contained in the applicable term sheet supersedes the following discussion to the extent it is inconsistent therewith. Prospective purchasers of ARNs are urged to read the discussion below in connection with the discussion in the applicable term sheet relating to their ARNs and to consult their tax advisors as to the consequences under the tax laws of the country of which they are resident for tax purposes and the federal, state and local tax laws of the U.S. of acquiring, holding and disposing of, and receiving payments under, ARNs. The discussion below assumes that an investor in ARNs will be subject to a significant risk that it will lose a significant amount of its investment in ARNs. If an investor in ARNs is not subject to a significant risk that it will lose a significant amount of its investments in ARNs, the U.S. federal income tax treatment of those ARNs may differ substantially from that described in the discussion below and such treatment will be described in the applicable term sheet. The discussion below also assumes that ARNs will not provide for interest payments. If ARNs provide for