Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 363

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 363
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ally transparent” within the meaning of Section 894 of the Code or (b) required
to include dividends in its gross income, but is entitled to a deduction for distributions to its investors.

Qualified Foreign Pension Funds. Any distribution to a “qualified foreign pension fund” or an entity all of the interests of which are held
by one or more “qualified foreign pension funds” who holds our capital stock directly or indirectly (through one or more partnerships)
generally will not be subject to U.S. federal income tax as income effectively connected with the conduct of a U.S. trade or business
and thus will not be subject to FIRPTA withholding as described above. REIT distributions received by a “qualified foreign pension
fund” that are exempt from FIRPTA withholding may still be subject to regular U.S. federal withholding tax.

A “qualified foreign
pension fund” is any trust, corporation or other organization or arrangement (1) which is created or organized under the laws
of a country other than the United States or a political subdivision thereof, (2) which is established to provide retirement or pension
benefits to participants or beneficiaries that are current or former employees (or persons designated by such employees) of one or more
employers in consideration for services rendered, (3) which does not have a single participant or beneficiary with a right to more
than 5% of its assets or income, taking in account certain attribution rules, (4) which is subject to government regulation and provides
annual information reporting about its beneficiaries to the relevant tax or other governmental authorities in the country in which it
is established or operates and (5) with respect to which, under the laws of the country in which it is established or operates, and
subject to a de minimis exception, (a) contributions to such organization or arrangement that would otherwise be subject to tax under
such laws are deductible or excluded from the gross income of such entity or taxed at a reduced rate or (b) taxation of any investment
income of such organization or arrangement is deferred or such income is taxed a reduced rate.

FATCA. Under
FATCA, a U.S. withholding tax at a 30% rate will be imposed on dividends paid to certain non-U.S. stockholders if certain disclosure requirements
related to U.S. accounts or ownership are not satisfied. If payment of withholding taxes is required, non-U.S. stockholders that are otherwise
eligible for an exemption from, or reduction of, U.S. withholding