Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 246

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 246
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 (as long-term capital gain) and other earnings and profits (as ordinary income), on a current basis, whether or not distributed. A U.S. Holder generally 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. A subsequent distribution of such earnings and profits that were previously included in income should generally not be taxable as a dividend to such U.S. Holder. The tax basis of a U.S. Holder’s shares in a PFIC with respect to which a QEF election has been made will be increased by amounts that are included in income and decreased by amounts distributed but not taxed as dividends, under the above rules.

In the absence of a purging election, a U.S. Holder would be treated for purposes of the interest charge rules as if the U.S. Holder held such New VIWO Shares for a period that includes a period when the QEF election was not in effect, including such U.S. Holder’s holding period for the Future Vision securities exchanged therefor, respectively. U.S. Holders are urged to consult their tax advisors regarding the application of the purging elections rules to their particular circumstances.

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), including the information provided in a PFIC Annual Information Statement from Future Vision or New VIWO, as the case may be, to a timely filed U.S. federal income tax return for the tax year to which the election relates. In the event that New VIWO determines after the completion of the Business Combination that New VIWO is a PFIC for U.S. federal income tax purposes for any taxable year, New VIWO will, upon request of a holder of New VIWO Ordinary Shares, make reasonable best efforts to provide a PFIC Annual Information Statement to such holder. Retroactive QEF elections generally may be made only by filing a protective statement with such federal income tax return and if certain other conditions are met or with the consent of the IRS. U.S. Holders are urged to consult their tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances.

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