Company: CMDB
Filing Date: 2025-04-23
Form Type: 20FR12B/A
Source: 0001140361-25-015197
Chunk: 252

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-23
Form: 20FR12B/A
Chunk 252
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 period the U.S. Holder held its shares (determined based on the test described below under “PFIC Status”), all or a substantial portion of the distribution of our ordinary shares in the Spin-off will be treated as an “excess distribution”, as described below in “Taxation of U.S. Holders That Make No Election”, unless the U.S. Holder makes either a QEF Election or a “mark-to- market” election for the year of the spin-off. The amount treated as an “excess distribution” would be taxed in the manner described below under “Taxation of U.S. Holders That Make No Election”. The portion of the distribution not treated as an “excess distribution” would be taxed to you as a dividend in the manner described above but would not be eligible for the reduced rates applicable to “qualified dividend income”. As described below under “Taxation of U.S. Holders That Make a Timely QEF Election”, if you make a QEF Election you will not be taxed on the distribution to the extent you have already been taxed on Costamare Inc.’s earnings (and your basis in your Costamare Inc. common shares will be reduced by such amount). If you made a “mark-to-market” election, as described below in “Taxation of U.S. Holders That Make a Timely ‘Mark-to-Market’ Election”, you will not be subject to the rules for “excess distributions” and will be taxed in the manner described above under “Consequences of the Spin-Off and Distribution of our Common Shares to U.S. Holders”, except that any dividend would not be eligible for the reduced rates applicable to “qualified dividend income”. We believe that Costamare Inc. will not be classified as a PFIC in the year of the Spin-off, but there can be no assurance that Costamare Inc. will not be so treated. You are encouraged to consult your own tax advisor regarding the PFIC rules and their possible application to the spin-off. Distributions on Our Common Shares Subject to the discussion of PFICs below, any distributions with respect to our common shares that you receive from us will generally constitute dividends, which may be taxable as ordinary income or “qualified dividend income” as described below, to the extent of our current or accumulated earnings and profits (as determined under U.S. tax principles). Distributions in excess of our earnings and profits will be treated first as a nontaxable return of capital to the extent of your tax