Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 462

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 10
Chunk 462
---
 subject to U. S. federal income tax at the regular graduated rates. In addition, the amount of a distribution to a Non-U. S. Holder attributable to such effectively connected income generally would be subject to withholding at the highest applicable effective tax rate. A corporate Non-U. S. Holder might also be subject to branch profits tax at a rate of 30%, or at a lower treaty rate, if applicable. If, contrary to expectation, BEP were engaged in a U. S. trade or business, then gain or loss from the sale of LP units by a Non-U. S. Holder would be treated as effectively connected with such trade or business to the extent that such Non-U. S. Holder would have had effectively connected gain or loss had BEP sold all of its assets at their fair market value as of the date of such sale. In such case, any such effectively connected gain generally would be taxable at the regular graduated U. S. federal income tax rates, and the amount realized from any such sale by a Non-U. S. Holder, as well as the amount of any distribution exceeding BEP’s cumulative net income, generally would be subject to the 10% U. S. federal withholding tax under Section 1446(f) of the U. S. Internal Revenue Code.

In general, even if BEP is not engaged in a U. S. trade or business, and assuming a Non-U. S. Holder is not otherwise engaged in a U. S. trade or business, such holder will nonetheless be subject to a withholding tax of 30% on the gross amount of certain U. S.-source income which is not effectively connected with a U. S. trade or business.

Income subjected to such a flat tax rate is income of a fixed or determinable annual or periodic nature, including dividends and certain interest income. Such withholding tax may be reduced or eliminated with respect to certain types of income under an applicable income tax treaty between the United States and a Non-U. S. Holder’s country of residence or under the “portfolio interest” rules or other provisions of the U. S. Internal Revenue Code, provided that such holder properly certifies its eligibility for such treatment. Notwithstanding the foregoing, and although each Non-U. S. Holder is required to provide BEP an IRS Form W-8, BEP nevertheless may be unable to accurately or timely determine the tax status of our LP unitholders for purposes of establishing whether reduced rates of withholding apply to some or all of our LP