Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 227

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 227
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 available. LP unitholders should be aware that the U. S. federal income tax rules, particularly those applicable to partnerships, are constantly under review by the Congressional tax-writing committees and other persons involved in the legislative process, the IRS, the U. S. Treasury Department and the courts, frequently resulting in changes which could adversely affect the value of LP units or cause BEP to change the way it conducts its activities. For example, changes to the U. S. federal tax laws and interpretations thereof could make it more difficult or impossible for BEP to be treated as a partnership that is not taxable as a corporation for U. S. federal income tax purposes, change the character or treatment of portions of BEP’s income, reduce the net amount of distributions available to LP unitholders, or otherwise affect the tax considerations of owning LP units. In addition, BEP’s organizational documents and agreements permit the Managing General Partner to modify the Amended and Restated Limited Partnership Agreement of BEP from time to time, without the consent of our LP unitholders, to address such changes. In some circumstances, such revisions could have an adverse impact on some or all LP unitholders. See Item 10. E “ - Taxation - Certain Material U. S. Federal Income Tax Considerations - Administrative Matters - New Legislation or Administrative or Judicial Action”.

BEP’s delivery of required tax information for a taxable year may be subject to delay, which could require an LP unitholder who is a U. S. taxpayer to request an extension of the due date for such LP unitholder’s income tax return.

BEP has agreed to use commercially reasonable efforts to provide U. S. tax information (including IRS Schedule K-1 information needed to determine an LP unitholder’s allocable share of BEP’s income, gain, losses and deductions) no later than 90 days after the close of each calendar year. However, providing this U. S. tax information to LP unitholders will be subject to delay in the event of, among other reasons, the late receipt of any necessary tax information from lower-tier entities. It is therefore possible that, in any taxable year, an LP unitholder will need to apply for an extension of time to file such LP unitholder’s tax returns. See Item 10. E “ Taxation - Certain Material U. S. Federal Income Tax Considerations - Administrative Matters - Information Returns and Audit Procedures”.

If the IRS makes an audit adjustment to BEP’s income tax