Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 177

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 10
Chunk 177
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 consult their own tax advisors regarding the tax issues raised by lower-tier PFICs.

A U. S. Holder that owns
(or is deemed to own) shares in a PFIC during any taxable year of the U. S. Holder may have to file an IRS Form 8621 (whether
or not a mark-to-market election is or has been made) with such U. S. Holder’s U. S. federal income tax return and
provide any such other information as may be required by the Treasury. Failure to do so, if required, will extend the statute of limitations
until such required information is furnished to the IRS.

The rules dealing with
PFICs and mark-to-market elections are very complex and are affected by various factors in addition to those described above. Accordingly,
U. S. Holders of Class A ordinary shares should consult their own tax advisors concerning the application of the PFIC rules to
Class A ordinary shares under their particular circumstances.

Information Reporting
and Backup Withholding

In general, information reporting
requirements will apply to dividends (including constructive dividends) received by U. S. Holders of Class A ordinary shares, and
the proceeds received on the disposition of Class A ordinary shares effected within the United States (and, in certain cases, outside
the United States), in each case, other than U. S. Holders that are exempt recipients (such as corporations). Backup withholding
(currently at a rate of 24%) may apply to such amounts if the U. S. Holder fails to provide an accurate taxpayer identification number
and certify that it is not subject to backup withholding (generally on an IRS Form W-9 provided to the paying agent or the U. S. Holder’s
broker) or is otherwise subject to backup withholding.

Backup withholding is not
an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or credit against a holder’s
U. S. federal income tax liability, if any, by filing the appropriate claim for refund and timely providing the required information
to the IRS. Each U. S. Holder should consult its own tax advisor regarding the information reporting and backup withholding rules in their
particular circumstances and the availability of and procedures for obtaining an exemption from backup withholding.

Certain U. S. Holders holding
specified foreign financial assets with an aggregate value in excess of the applicable dollar threshold are required to report information
to the IRS relating to Class A ordinary shares, subject to certain exceptions (including an exception