Company: RTNTF
Filing Date: 2025-03-13
Form Type: 424B5
Source: 0001104659-25-023282
Chunk: 135

Company: RIO TINTO LTD
Filing Date: 2025-03-13
Form: 424B5
Chunk 135
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CA, a 30% withholding tax is imposed on (i) certain U.S. source payments and (ii) certain non-U.S. source payments (“foreign passthru payments”) made by “foreign financial institutions”, in each case to persons that fail to meet certain certification, reporting, or related requirements. Interest paid on the U.S. debt securities generally will be subject to withholding under FATCA if a holder fails to provide certification of exemption from FATCA withholding. Proposed regulations have been issued that would eliminate FATCA withholding on payments of gross proceeds from the disposition of assets that can produce U.S. source interest, such as the U.S. debt securities. The U.S. Treasury Department has indicated that taxpayers may rely on these proposed regulations pending their finalization.

A number of jurisdictions (including Australia and the United Kingdom) have entered into, or have agreed in substance to, intergovernmental agreements with the United States to implement FATCA (“IGAs”), which modify the way in which FATCA applies in their jurisdictions. Certain aspects of the application of the FATCA provisions and IGAs to instruments such as the debt securities, including whether withholding would ever be required pursuant to FATCA or an IGA with respect to payments on instruments such as the debt securities, are uncertain and may be subject to change.

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Even if withholding would be required pursuant to FATCA or an IGA with respect to foreign passthru payments on instruments such as the Non-U.S. debt securities, proposed regulations have been issued that provide that such withholding would not apply prior to the date that is two years after the date on which final regulations defining “foreign passthru payments” are published in the U.S. Federal Register. In the preamble to the proposed regulations, the U.S. Treasury Department indicated that taxpayers may rely on these proposed regulations until the issuance of final regulations. Additionally, Non-U.S. debt securities that are characterized as debt (or which are not otherwise characterized as equity and have a fixed term) for U.S. federal tax purposes, that are issued on or prior to the date that is six months after the date on which final regulations defining “foreign passthru payments” are filed with the U.S. Federal Register generally would be “grandfathered” for purposes of FATCA withholding unless materially modified after such date (including by reason of a substitution of the issuer). Holders should consult their own tax advisors regarding how these rules may apply to their investment in the debt