Company: DBO
Filing Date: 2025-08-26
Form Type: 424B3
Source: 0001193125-25-188736
Chunk: 129

Company: Invesco DB Oil Fund
Filing Date: 2025-08-26
Form: 424B3
Chunk 129
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amount realized” by a Non-U.S. Shareholder on the sale or exchange of Shares, unless the transferor certifies that it is not a non-U.S. person, but in the case of a transfer made through a broker, the obligation to withhold is generally imposed on the transferor’s broker. The Managing Owner to the Fund has posted a Qualified Notice in accordance with Regulation Section 1.1446(f)-4(b)(3)(iii) which provides that the “10-percent exception”

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under Regulation Section 1.1446(f)-4(b)(3)(ii) applies to the Funds. Accordingly, brokers may be able (but are not required) to rely on such notice to not withhold under Section 1446(f) on a transfer of Shares by a non-U.S. Shareholder. The Managing Owner intends to periodically post an updated Qualified Notice in accordance with the applicable Regulations, but there can be no assurances that the “10-percent exception” will always be available to the Fund to be able to post a Qualified Notice. A Non-U.S. Shareholder also could be liable for state/local income taxes, and could have corresponding state/local tax filing requirements. In the case of an individual non-U.S. Shareholder, the non-U.S. Shareholder will be subject to U.S. federal income tax on gains on the sale of Shares or the non-U.S. Shareholder’s distributive share of capital gains if the non-U.S. Shareholder is present in the United States for 183 days or more during a taxable year and certain other conditions are met. Non-U.S. Shareholders that are individuals will be subject to U.S. federal estate tax on the value of U.S. situs property owned at the time of their death (unless a statutory exemption or tax treaty exemption applies). It is unclear whether partnership interests (such as the Shares) will be considered U.S. situs property. Accordingly, non-U.S. Shareholders may be subject to U.S. federal estate tax on all or part of the value of the Shares owned at the time of their death. Non-U.S. Shareholders are advised to consult their own tax advisors with respect to the particular tax consequences to them of an investment in the Shares. Regulated Investment Companies The treatment of a RIC’s investment in the Fund will depend, in part, on whether the Fund is classified as a qualified publicly traded partnership within the meaning of Section 851(h) of the Code (a “qualified PTP”). RIC