Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 359

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 359
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 subject to a 30% branch profits
tax with respect to that distribution. The branch profits tax may be reduced by an applicable tax treaty. We plan to withhold U.S. federal
income tax at the rate of 30% on the gross amount of any such distribution paid to a non-U.S. stockholder unless either:

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| · | a lower treaty rate applies and the non-U.S. stockholder provides us with an IRS Form W-8BEN or W-8BEN-E, as applicable, evidencing eligibility for that reduced rate; |

| · | the non-U.S. stockholder provides us with an IRS Form W-8ECI claiming that the distribution is effectively connected income; or |

| · | the distribution is treated as attributable to a sale of a USRPI under FIRPTA (discussed below). |

A non-U.S. stockholder will
not incur tax on a distribution in excess of our current and accumulated earnings and profits if the excess portion of such distribution
does not exceed the adjusted basis of its Series B Redeemable Preferred Stock. Instead, the excess portion of such distribution will
reduce the non-U.S. stockholder’s adjusted basis in such stock. A non-U.S. stockholder will be subject to tax on a distribution
that exceeds both our current and accumulated earnings and profits and the adjusted basis of its Series B Redeemable Preferred Stock,
if the non-U.S. stockholder otherwise would be subject to tax on gain from the sale or disposition of its Series B Redeemable Preferred
Stock, as described below. We must withhold 15% of any distribution that exceeds our current and accumulated earnings and profits. Consequently,
although we intend to withhold at a rate of 30% on the entire amount of any distribution, to the extent that we do not do so, we will
withhold at a rate of 15% on any portion of a distribution not subject to withholding at a rate of 30%. Because we generally cannot determine
at the time we make a distribution whether the distribution will exceed our current and accumulated earnings and profits, we normally
will withhold tax on the entire amount of any distribution at the same rate as we would withhold on a dividend. However, by filing a U.S.
tax return, a non-U.S. stockholder may claim a refund of amounts that we withhold if we later determine that a distribution in fact exceeded
our current and accumulated earnings and profits.

For any year