Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 78

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 10
Chunk 78
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 of the payment, regardless of whether the Canadian dollars are converted into U. S. dollars at that time. If the Canadian dollars received are not converted into U. S. dollars on the date of receipt, a U. S. Holder will have a basis in the Canadian dollars equal to their U. S. dollar value on the date of receipt. Any U. S. Holder who receives payment in Canadian dollars and engages in a subsequent conversion or other disposition of the Canadian dollars may have a foreign currency exchange gain or loss that would be treated as ordinary income or loss, and generally will be U. S. source income or loss for foreign tax credit purposes. Different rules apply to U. S. Holders who use the accrual method of tax accounting. Each U. S. Holder should consult its own U. S. tax advisor regarding the U. S. federal income tax consequences of receiving, owning, and disposing of Canadian dollars.

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Information Reporting; Backup Withholding

Under U. S. federal income tax law, certain categories of U. S. Holders must file information returns with respect to their investment in, or involvement in, a non-U. S. corporation. For example, U. S. return disclosure obligations (and related penalties) are imposed on individuals who are U. S. Holders that hold certain specified foreign financial assets in excess of certain threshold amounts. The definition of “specified foreign financial assets” includes not only financial accounts maintained in non-U. S. financial institutions, but also, if held for investment and not in an account maintained by certain financial institutions, any stock or security issued by a non-U. S. person, any financial instrument or contract that has an issuer or counterparty other than a U. S. person and any interest in a non-U. S. entity. A U. S. Holder may be subject to these reporting requirements unless such U. S. Holder’s shares of our common shares are held in an account at certain financial institutions. Penalties for failure to file certain of these information returns are substantial. U. S. Holders should consult with their own tax advisors regarding the requirements of filing information returns on IRS Form 8938 for specified foreign financial assets, filing obligations relating to the PFIC rules including possible reporting on IRS Form 8621, and any other applicable reporting requirements.

Payments made within the U. S. or by a U. S. payor or U. S. middleman of (a) distributions