Company: TACOW
Filing Date: 2025-04-15
Form Type: S-1/A
Source: 0001829126-25-002650
Chunk: 290

Company: Berto Acquisition Corp.
Filing Date: 2025-04-15
Form: S-1/A
Chunk 290
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 lower-tier PFIC and thus there can be no assurance we will be able to cause the lower-tier PFIC to
provide such required information. A mark-to- market election generally would not be available with respect to such lower-tier PFIC.
U.S. Holders are urged to consult their own tax advisors regarding the tax issues raised by lower-tier PFICs.

A U.S. Holder that owns (or is
deemed to own) shares in a PFIC during any taxable year of the U.S. Holder may be required to file an IRS Form 8621 (whether or not a
QEF or mark-to-market election is made) and provide to the IRS such other information as may be required by the U.S. Treasury Department.
Failure to do so, if required, will extend the statute of limitations until such required information is furnished to the IRS.

The rules dealing with PFICs
and with the QEF, purging, and mark-to-market elections are very complex and are affected by various factors in addition to those described
above. Accordingly, U.S. Holders of our ordinary shares and warrants should consult their own tax advisors concerning the application
of the PFIC rules to our ordinary shares and warrants under their particular circumstances.

Tax Reporting

Certain U.S. Holders may be required
to file an IRS Form 926 (Return by a U.S. Transferor of Property to a Foreign Corporation) to report a transfer of property (including
cash) to us. Substantial penalties may be imposed on a U.S. Holder that fails to comply with this reporting requirement, and the period
of limitations on assessment and collection of United States federal income taxes will be extended in the event of a failure to comply.
Furthermore, certain U.S. Holders who are individuals and certain entities will be required to report information with respect to such
U.S. Holder’s investment in “specified foreign financial assets” on IRS Form 8938 (Statement of Specified Foreign Financial
Assets), subject to certain exceptions. Specified foreign financial assets generally include any financial account maintained with a
non-U.S. financial institution and should also include our units, ordinary shares and warrants if they are not held in an account maintained
with a U.S. financial institution. Persons who are required to report specified foreign financial assets and fail to do so may be subject
to substantial penalties, and the period of limitations on assessment and collection of United States federal income taxes may be extended
in the event of a failure to comply.