Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 188

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 10
Chunk 188
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 effect for that year and applic...  

  the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such year of the U. S. Holder.  

In general, a U. S. Holder
may avoid the PFIC tax consequences described above in respect to our Ordinary Shares by making a timely QEF election to include in income
its pro rata share of our net capital gains (as long-term capital gain) and other earnings and profits (as ordinary income), on a current
basis, in each case whether or not distributed, in the taxable year of the U. S. Holder in which or with which our taxable year ends. There
can be no assurance, however, that we will pay current dividends or make other distributions sufficient for a U. S. Holder who makes a
QEF election to satisfy the tax liability attributable to income inclusions under the QEF rules, and the U. S. Holder may have to pay the
resulting tax from its other assets. A U. S. Holder may make a separate election to defer the payment of taxes on undistributed income
inclusions under the QEF rules, but if deferred, any such taxes will be subject to an interest charge.

The QEF election is made on
a shareholder-by-shareholder basis and, once made, can be revoked only with the consent of the IRS. A U. S. Holder generally makes a QEF
election by attaching a completed IRS Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified
Electing Fund), to a timely filed U. S. federal income tax return for the tax year to which the election relates. Retroactive QEF elections
generally may be made only by filing a protective statement with such return and if certain other conditions are met or with the consent
of the IRS. In order to comply with the requirements of a QEF election, a U. S. Holder must receive certain information from us. Upon request
from a U. S. Holder, we will endeavor to provide to the U. S. Holder no later than 90 days after the request such information as the IRS
may require, including a PFIC annual information statement, in order to enable the U. S. Holder to make and maintain a QEF election. However,
there is no assurance that we will have timely knowledge of our status as a PFIC in the future or of the required information to be provided.

If