Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 47

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 3
Chunk 47
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 U. S. Internal Revenue Code or an applicable income tax treaty, provided that the Non-U. S. Holder properly certifies its eligibility by providing an IRS Form W-8. If, notwithstanding the foregoing, our company is unable to accurately or timely determine the tax status of a Non-U. S. Holder for purposes of establishing whether reduced rates of withholding apply, then U. S. withholding tax at a rate of 30% may apply to any portion of a distribution on exchangeable shares that is treated as a dividend equivalent under Section 871(m) of the U. S. Internal Revenue Code. A dividend equivalent may also be subject to a 30% withholding tax under the Foreign Account Tax Compliance provisions of the Hiring Incentives to Restore Employment Act of 2010 (“ FATCA”), unless a Non-U. S. Holder properly certifies its FATCA status on IRS Form W-8 or other applicable form and satisfies any additional requirements under FATCA.

46 Brookfield Infrastructure Corporation

Notwithstanding the foregoing, our company’s position that the contractual arrangements relating to the exchangeable shares do not constitute a simple contract does not bind the IRS. The Treasury Regulations under Section 871(m) of the U. S. Internal Revenue Code require complex determinations with respect to contractual arrangements linked to U. S. equities, and the application of these regulations to the exchangeable shares is uncertain. Accordingly, the IRS could challenge our company’s position and assert that the contractual arrangements relating to the exchangeable shares constitute a simple contract, in which case U. S. withholding tax currently would apply, generally at a rate of 30% (subject to reduction or elimination under the U. S. Internal Revenue Code or an applicable income tax treaty), to that portion, if any, of a distribution on exchangeable shares that is treated as referencing a U. S.-source dividend paid to the partnership or Holding LP. Non-U. S. Holders should consult their own tax advisers regarding the implications of Section 871(m) of the U. S. Internal Revenue Code and FATCA for their ownership of exchangeable shares with regard to their particular circumstances.

For a more complete discussion of the U. S. federal income tax consequences to Non-U. S. Holders of owning exchangeable shares, see Item 10. E “ Taxation - Certain Material U. S. Federal Income Tax Considerations - Consequences to Non-U. S. Holders - Ownership and Disposition of Exchangeable Shares” below. The U. S