The US Internal Revenue Service (“IRS”) has issued a new provision under Section 1446(a) and Section 1446(f) of the Internal Revenue Code (“IRC”) that primarily impacts Non-US Persons who invest in PTP Securities.
With effect from 1 January 2023, the following withholding taxes will be applied:
In view of the above,
Hereunder please find the non-exhaustive list of PTP Securities for your reference. It may be subject to changes from time to time without prior notice and UOBKH does not warrant the accuracy, reliability, and completeness of the list.
Please click here for the PTP Securities list.
If you are holding any PTP Securities, we suggest you to consult your tax advisor, review your investment portfolio and take appropriate actions as soon as possible. Also, UOBKH reserves the right to claim the withholding tax from the customer to satisfy IRS withholding requirement.
For details, please refer to the following information:
IRS Requirements on PTP Products: https://www.irs.gov/individuals/international-taxpayers/publicly-traded-partnerships
IRS Regulations on the Withholding Tax on PTP Transactions: https://www.irs.gov/individuals/international-taxpayers/partnership-withholding
Please contact your account executive or our client services hotline +852 2136 1818 if you have any further inquiries.