Company: WELNF
Filing Date: 2025-11-17
Form Type: DEF 14A
Source: 0001104659-25-113213
Chunk: 86

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-17
Form: DEF 14A
Chunk 86
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 taxable year of the Redeeming U.S. Holder, may have to file an IRS Form 8621(whether
or not a QEF or market-to-market election is made) and such other information as may be required by the U.S. Treasury Department.

The application of the PFIC rules is extremely complex. Shareholders who are considering participating in the redemption and/or selling, transferring or otherwise disposing of their shares should consult with their tax advisors concerning the application of the PFIC rules in their particular circumstances.

U.S. Federal Income Tax Considerations to Non-U.S. Shareholders

This section is addressed
to Redeeming Non-U.S. Holders (as defined below) of the Company’s shares that elect to have their shares redeemed for cash as described
in the section entitled “Proposal 1: The Extension Amendment Proposal.” For purposes of this discussion, a “Redeeming
Non-U.S. Holder” is a beneficial owner (other than a partnership or entity treated as a partnership for U.S. federal income tax
purposes) that so redeems its shares and is not a Redeeming U.S. Holder.

The characterization for
U.S. federal income tax purposes of a redemption of a Redeeming Non-U.S. Holder’s shares generally will correspond to the U.S. federal
income tax characterization of such a redemption of a Redeeming U.S. Holder’s shares. See the discussion above under “U.S.
Federal Income Tax Considerations to U.S. Shareholders.”

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Any Redeeming Non-U.S. Holder
will not be subject to U.S. federal income tax on any capital gain recognized as a result of the redemption unless:

| · | such Redeeming Non-U.S. Holder is engaged in a trade or business within the United States and any gain recognized in the redemption is treated as effectively connected with such trade or business (and, if an income tax treaty applies, the gain is attributable to a permanent establishment maintained by such holder in the United States), in which case the Redeeming Non-U.S. Holder will generally be subject to the same treatment as a Redeeming U.S. Holder with respect to such gain, and a corporate Redeeming Non-U.S. Holder may be subject to an additional branch profits tax at a 30% rate (or lower rate as may be specified by an applicable income tax treaty); or |

| · | the Redeeming Non-U.S. Holder is an individual who is present in the United States for 183 days