Company: INVH
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179878
Chunk: 134

Company: Invitation Homes Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 134
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% and 95% gross income tests for any taxable
year, we may nevertheless qualify as a REIT for that year if we are entitled to relief under the Code. These relief provisions generally will be available if our failure to meet the tests is due to reasonable cause and not due to willful neglect,
and we attach a schedule of the sources of our income to our U.S. federal income tax return. It is not possible, however, to state whether in all circumstances we would be entitled to the benefit of these relief provisions. For example, if we fail
to satisfy the gross income tests because nonqualifying income that we intentionally recognize exceeds the limits on nonqualifying income, the IRS could conclude that the failure to satisfy the tests was not due to reasonable cause. If these relief
provisions are inapplicable to a particular set of circumstances, we will fail to qualify as a REIT. Even if these relief provisions apply, a penalty tax would be imposed based on the amount of nonqualifying income. See “—Our Taxation as a
REIT.”

Gross income from our sale of property that we hold primarily for sale to customers in the ordinary course of business is
excluded from both the numerator and the denominator in both gross income tests. In addition, income and gain from hedging transactions that we enter into in the normal course of our business to hedge indebtedness incurred or to be incurred to
acquire or carry real estate assets and that are clearly and timely identified as such will be excluded from both the numerator and the denominator for purposes of both gross income tests. In addition, certain foreign currency gains will be excluded
from gross income for purposes of one or both of the gross income tests. We will monitor the amount of our non-qualifying income and we will manage our portfolio to comply at all times with the gross income
tests. The following paragraphs discuss some of the specific applications of the gross income tests to us.

Dividends. We may
directly or indirectly receive distributions from TRSs or other corporations that are not REITs or qualified REIT subsidiaries. These distributions generally are treated as dividend income to the extent of earnings and profits of the distributing
corporation. Our dividend income from stock in any corporation (other than any REIT) and from any TRS will be qualifying income for purposes of the 95% gross income test, but not the 75% gross income test. The dividends that we receive from any
REITs in which we own