Company: TDBCP
Filing Date: 2025-04-03
Form Type: 424B3
Source: 0001140361-25-012065
Chunk: 48

Company: TORONTO DOMINION BANK
Filing Date: 2025-04-03
Form: 424B3
Chunk 48
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) Specified ELIs (or a combination of 871(m) Specified ELIs treated as having been entered into in connection with each other) that have a delta of one (“ Delta-One Specified ELIs”) issued (or reissued, as discussed below) on or after January 1, 2017. However, the IRS has issued guidance that states that the Treasury and the IRS intend to amend the effective dates of the Treasury regulations to provide that withholding on dividend equivalents paid or deemed paid will not apply to 871(m) Specified ELIs that are not Delta-One Specified ELIs and are issued before January 1, 2027. The 30% withholding tax may also apply if ARNs are deemed to be reissued for tax purposes upon the occurrence of certain events affecting an Underlying Stock or ARNs, and following such occurrence ARNs could be treated as Delta-One Specified ELIs that are subject to withholding on dividend equivalents. It is also possible that PS-38 withholding tax or other Section 871(m) tax could apply to ARNs under these rules if a non-U.S. holder enters, or has entered, into certain other transactions in respect of a Market Measure or ARNs. Because of the uncertainty regarding the application of the 30% withholding tax on dividend equivalents to ARNs, non-U.S. holders are urged to consult with their tax advisors regarding the application of Section 871(m) of the Code to ARNs (including in the context of their other transactions in respect of a Market Measure or ARNs, if any) and the 30% withholding tax to an investment in ARNs. U.S. Federal Estate Tax Treatment of Non-U.S. Holders. ARNs may be subject to U.S. federal estate tax if an individual non-U.S. holder holds ARNs at the time of his or her death. The gross estate of a non-U.S. holder domiciled outside the U.S. includes only property situated in the U.S. Individual non-U.S. holders should consult their tax advisors regarding the U.S. federal estate tax consequences of holding ARNs at death. Foreign Account Tax Compliance Act The Foreign Account Tax Compliance Act (“ FATCA”) generally imposes a 30% U.S. withholding tax on “withholdable payments” (i.e., certain U.S.-source payments, including interest (and original issue discount), dividends, other fixed or determinable annual or periodical gain, profits, and income, and on the gross proceeds from a disposition of