Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 270

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 270
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IC status.

If the Company is a PFIC in any year with respect to which a U. S. holder owns its ordinary shares or ADSs, the Company will continue to be treated as a PFIC with respect to such U. S. holder in all succeeding years during which the U. S. holder owns the ordinary shares or ADSs, regardless of whether the Company continue to meet the tests described above unless the Company ceases to be a PFIC and the U. S. holder has made a “deemed sale” election under the PFIC rules or is eligible to make and makes a mark-to-market election (as described below), with respect to all taxable years during such U. S. holder’s holding period in which the Company is a PFIC. If the “deemed sale” election is made, a U. S. holder will be deemed to have sold the ordinary shares or ADSs the U. S. holder holds at their fair market value as of the date of such deemed sale and any gain from such deemed sale would be subject to the rules described below. After the deemed sale election, so long as the Company does not become a PFIC in a subsequent taxable year, the U. S. holder’s ordinary shares or ADSs with respect to which such election was made will not be treated as shares in a PFIC and the U. S. holder will not be subject to the rules described below with respect to any “excess distribution” the U. S. holder receives from the Company or any gain from an actual sale or other disposition of the ordinary shares or ADSs. U. S. holders should consult their tax advisors as to the possibility and consequences of making a deemed sale election if such election becomes available.

If the Company is a PFIC, and you are a U. S. holder that does not make one of the elections described above (and below in further detail), a special tax regime will apply to both (a) any “excess distribution” by the Company to you (generally, your ratable portion of distributions in any year which are greater than 125% of the average annual distribution received by you in the shorter of the three preceding years or your holding period for its ordinary shares or ADSs) and (b) any gain realized on the sale or other disposition of its ordinary shares or ADSs. Under this regime, any excess distribution and realized gain will be treated as ordinary income and will be subject to tax as if (a) the excess distribution or gain