Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 81

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 81
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 if a U.S. Holder does not
elect to apply the benefits of the Convention. The Department of the Treasury and the IRS are considering proposing amendments to the Foreign Tax Credit Regulations. In addition, notices from the IRS provide temporary relief by allowing taxpayers
that comply with applicable requirements to apply many aspects of the foreign tax credit regulations as they previously existed (before the release of the current Foreign Tax Credit Regulations) for taxable years ending before the date that a notice
or other guidance withdrawing or modifying the temporary relief is issued (or any later date specified in such notice or other guidance). Instead of claiming a foreign tax credit, a U.S. Holder may be able to claim a deduction for any Canadian
income tax withheld from dividends on the Common Shares, subject to generally applicable limitations under U.S. federal income tax law (including that a U.S. Holder is not eligible for a deduction for otherwise creditable foreign income taxes paid
or accrued in a taxable year if such U.S. Holder claims a foreign tax credit for any foreign income taxes paid or accrued in the same taxable year).

U.S. Holders are urged to consult their tax advisors regarding the proper characterization of the Notes for U.S. federal income tax purposes and the tax consequences of their ownership of the Notes, Series 33 Shares and Common Shares.

S-49

CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS

In the opinion of McCarthy Tétrault LLP, counsel to the Bank (“Counsel”), the following summary describes the principal
Canadian federal income tax considerations generally applicable to a purchaser who acquires Notes, including entitlement to all payments thereunder, as beneficial owner, pursuant to this prospectus supplement; Series 33 Shares on a Recourse Event;
and Common Shares on a Recourse Event that is a Trigger Event or on a Contingent Conversion, and who, for purposes of the Tax Act and at all relevant times, deals at arm’s length with the Bank and each of the underwriters and any transferee
resident (or deemed to be resident) in Canada to whom the holder disposes of the Notes, is not affiliated with the Bank or any of the underwriters, holds Notes and will hold any Series 33 Shares or Common Shares (as applicable) as capital property
(a “Holder”).

Generally, Notes, Series 33 Shares, and Common Shares will be capital property to a Holder, provided the Holder
does not acquire Notes, Series 33 Shares or Common Shares in the course of carrying on a business