About Publicly Traded Partnerships (PTP) Withholding Tax

The Department of the Treasury and the Internal Revenue Service (“IRS”) of the U.S. published final regulations under Section 1446(f) relating to withholding obligations for certain dispositions by foreign partners/investors of interest in publicly traded partnerships (PTPs), effective at the end of year 2022.

Under IRS section 1446(f), selling of PTPs by Non-US residents will be subjected to withholding tax of 10% on the amount realized (i.e. gross sale proceeds) unless the transaction qualifies for a full or partial exception.

For additional information about IRC section 1446(f), please visit the IRS website: http://www.irs.gov/individuals/international-taxpayers/partnership-withholding

The list of the Publicly Traded Partnerships (PTPs)

BOOM will no longer accept any buy orders or transfer-in of the securities in the list of PTPs with immediate effect, but support sell order as usual.

The list of the PTPs can be downloaded here. (Note: this list is subject to change without notice and should not be regarded as an exhaustive list of every publicly traded security that is in scope for section 1446(f).)

If the sale of securities (from 29 Dec 2022 onwards) is not listed in the provided PTP list but falls under PTP classification, we reserves the right to claim the required withholding tax from you.