Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 150

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 10
Chunk 150
---
 Contents

Backup Withholding and Information Reporting

In general, dividend payments, or other taxable distributions, and the payment of the gross proceeds on a sale of our common shares, made within the U. S. to a non-corporate U. S. Holder will be subject to information reporting. Such payments or distributions may also be subject to backup withholding if the non-corporate U. S. Holder:

  fails to provide an accurate taxpayer identification number;  

  is notified by the IRS that it has failed to report all interest or dividends required to be shown on its federal income tax returns; or  

  in certain circumstances, fails to comply with applicable certification requirements.  

Non-U. S. Holders may be required to establish their exemption from information reporting and backup withholding with respect to dividends payments or other taxable distribution on our common shares by certifying their status on an applicable IRS Form W-8. If a Non-U. S. Holder sells our common shares to or through a U. S. office of a broker, the payment of the proceeds is subject to both U. S. backup withholding and information reporting unless the Non-U. S. Holder certifies that it is a non-U. S. person, under penalties of perjury, or it otherwise establishes an exemption. If a Non-U. S. Holder sells our common shares through a non-U. S. office of a non-U. S. broker and the sales proceeds are paid outside the U. S., then information reporting and backup withholding generally will not apply to that payment.

However, U. S. information reporting requirements, but not backup withholding, will apply to a payment of sales proceeds, even if that payment is made outside the U. S., if a Non-U. S. Holder sells our common shares through a non-U. S. office of a broker that is a U. S. person or has some other contacts with the U. S. Such information reporting requirements will not apply, however, if the broker has documentary evidence in its records that the Non-U. S. Holder is not a U. S. person and certain other conditions are met, or the Non-U. S. Holder otherwise establishes an exemption.

Backup withholding is not an additional tax. Rather, a refund may generally be obtained of any amounts withheld under backup withholding rules that exceed the taxpayer’s U. S. federal income tax liability by filing a timely refund claim with the IRS.

Individuals who are U. S. Holders (and to the extent specified in