Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 284

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 10
Chunk 284
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 profits (determined under U. S. federal income tax principles) during the period that the shareholder held the shares and while the corporation was a CFC (with certain adjustments). A U. S. Person who owns or owned, directly, indirectly through certain non-U. S. entities or constructively, 10% or more of the voting power of Aspen Holdings may be subject to these rules if Aspen Holdings is or was treated as a CFC.

A 10% U. S. Shareholder may in certain circumstances be required to report a disposition of shares of a CFC by attaching IRS Form 5471 to the U. S. federal income tax or information return that it would normally file for the taxable year in which the disposition occurs. In the event this is determined necessary, Aspen Holdings will provide upon request the relevant information necessary to complete the Form.

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Pursuant to the RPII provisions, Section 1248 of the Code also generally applies if a U. S. Person disposes of shares in a RPII CFC (determined without regard to the ownership or de minimis exceptions) that would be taxable as an insurance company under the Code if it were a U. S. corporation, in which case any gain from the disposition generally will be treated as a dividend to the extent of the U. S. Person’s share of the corporation’s undistributed earnings and profits that were accumulated during the period that the U. S. Person owned the shares (whether or not such earnings and profits are attributable to RPII). In addition, such U. S. Person will be required to comply with certain reporting requirements, regardless of the number of shares owned by the U. S. Person. Existing proposed regulations do not address whether Section 1248 of the Code would apply if a non-U. S. corporation is not an insurance company but the non-U. S. corporation has a subsidiary that is a CFC and that would be taxed as an insurance company if it were a domestic corporation. We believe that these rules should not apply to dispositions of the Preference Shares because Aspen Holdings will not itself be directly engaged in the insurance business. We cannot be certain, however, that the IRS will not interpret the RPII provisions in a contrary manner or that the U. S. Treasury Department will not adopt regulations that provide that these rules will apply to dispositions of Preference Shares. U. S. Persons should consult their tax advisors regarding the effects of these rules on a disposition of