Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 375

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 375
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 a partnership under the Code, is a withholding foreign partnership and would be treated as “United States real property holding
corporation,” or a USRPHC, under FIRPTA if it were a domestic corporation or (3) is designated as such by the Secretary of
the U.S. Treasury and is either (a) “fiscally 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