Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 247

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 247
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ing fund” election (a “QEF election”) requires you to include currently in income each year your pro rata share of a PFIC’s ordinary earnings and net capital gains (as ordinary income and long -termcapital gain, respectively), regardless of whether or not such earnings and gains are actually distributed. Thus, you could have a tax liability with respect to such earnings or gains without a corresponding receipt of cash. Your basis in the 163 shares of a qualified electing fund will be increased to reflect the amount of the taxed but undistributed income. Distributions of income that had previously been taxed will result in a corresponding reduction of basis in the shares and will not be taxed again as a distribution to you. You must make a QEF election if you wish to have this treatment. To make a QEF election, you will need to have an annual information statement from the PFIC setting forth the earnings and capital gains for the year. If we determine that the Company (or a lower -tierPFIC subsidiary, if applicable) is a PFIC for any taxable year, we will endeavor to provide a PFIC annual information statement with respect to the Company (or the lower -tierPFIC subsidiary, if applicable) for such taxable year. However, there can be no assurance that we will know whether the Company is a PFIC or that it will provide the PFIC annual information statement. You should consult your own tax advisors as to the consequences of the QEF election (including the consequences of making a retroactive election, which may be permitted in particular circumstances, such as if you had a reasonable belief that we were not a PFIC and filed a protective election). The application of the PFIC rules to Private Warrants is unclear. Proposed Treasury regulations issued under the PFIC rules generally treat an “option” (which would include a Private Warrant) to acquire the stock of a PFIC as stock of the PFIC, while final Treasury regulations issued under the PFIC rules provide that the QEF election does not apply to options and no mark -to -marketelection (discussed above) is currently available with respect to options. Therefore, if the proposed Treasury regulations are finalized in their current form, U.S. Holders of Private Warrants would be subject to the PFIC rules described above, but would not be able to make any PFIC elections with respect to Private Warrants. However, a U.S. Holder may make a QEF election with respect to an Ordinary Share acquired upon the exercise of a Private