Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 146

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 3
Chunk 146
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 in our units. Therefore, such excess distributions will increase a U. S. Holder’s taxable gain or decrease such holder’s taxable loss when our units are sold, and may result in a taxable gain even if the sale price is less than the original cost. A portion of the amount realized, whether or not representing gain, could be ordinary income to such U. S. Holder.

Our partnership structure involves complex provisions of U. S. federal income tax law for which no clear precedent or authority may be available. The tax characterization of our partnership structure

46 Brookfield Infrastructure

is also subject to potential legislative, judicial, or administrative change and differing interpretations, possibly on a retroactive basis.

The U. S. federal income tax treatment of our unitholders depends in some instances on determinations of fact and interpretations of complex provisions of U. S. federal income tax law for which no clear precedent or authority may be available. Unitholders should be aware that the U. S. federal income tax rules, particularly those applicable to partnerships, are constantly under review by the Congressional tax-writing committees and other persons involved in the legislative process, the IRS, the Treasury Department and the courts, frequently resulting in changes which could adversely affect the value of our units or cause our partnership to change the way it conducts its activities. For example, changes to the U. S. federal tax laws and interpretations thereof could make it more difficult or impossible for our partnership to be treated as a partnership that is not taxable as a corporation for U. S. federal income tax purposes, change the character or treatment of portions of our partnership’s income, reduce the net amount of distributions available to our unitholders, or otherwise affect the tax considerations of owning our units. In addition, our partnership’s organizational documents and agreements permit our General Partner to modify our Limited Partnership Agreement, without the consent of our unitholders, to address such changes. These modifications could have a material adverse impact on our unitholders. See Item 10. E “ - Taxation - Certain Material U. S. Federal Income Tax Considerations - Administrative Matters - New Legislation or Administrative or Judicial Action”.

Our partnership’s delivery of required tax information for a taxable year may be subject to delay, which could require a unitholder who is a U. S. taxpayer to request an extension of the due date for such unitholder’s income tax return.

Our partnership has agreed to use commercially reasonable efforts to provide U. S. tax information (including IRS Schedule K-1 information needed to