Company: TDBCP
Filing Date: 2025-06-17
Form Type: 424B3
Source: 0001140361-25-022771
Chunk: 55

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-17
Form: 424B3
Chunk 55
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 the IRS could assert that your holding period in respect of your SUNs should end on the date on which the amount you are entitled to receive upon maturity of your SUNs is determined, even though you will not receive any amounts from TD in respect of your SUNs prior to the maturity date of your SUNs. In this case, you may be treated as having a holding period in respect of your SUNs ending prior to the maturity date for your SUNs, and such holding period may be treated as one year or less even if you receive cash on the maturity date of your SUNs at a time that is more than one year after the beginning of your holding period. Unless otherwise specified in the applicable term sheet, we expect our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, would be able to opine that it would be reasonable to treat your SUNs in the manner described above. There may be also a risk that the IRS could assert that the SUNs should not give rise to long-term capital gain or loss because the SUNs offer short exposure to the Market Measure. Notice 2008-2 In 2007, the IRS released a notice that may affect the taxation of holders of the SUNs. According to Notice 2008-2, the IRS and the Treasury are considering whether the holder of an instrument, such as the notes, should be required to accrue ordinary income on a current basis. It is not possible to determine what guidance they will ultimately issue, if any. It is possible, however, that under such guidance, holders of such notes would ultimately be required to accrue current income and this could be applied on a retroactive basis. According to the notice, the IRS and the Treasury are also considering other relevant issues, including whether additional gain or loss from such instruments should be treated as ordinary or capital, whether non-U.S. holders of such instruments should be subject to withholding tax on any deemed income accruals, and whether the special “constructive ownership rules” under Section 1260 of the Code should be applied to such instruments. Both U.S. and non-U.S. holders are urged to consult their tax advisors concerning the significance and potential impact of the above considerations. Except to the extent otherwise required by law, we intend to treat your SUNs for U.S. federal income tax purposes in accordance with the treatment described above unless and until such time as the Treasury and IRS determine that some other treatment is more appropriate. Section 1260 If