GasLog Partners LP (“GLOP”) has elected to be treated as a C-Corporation for U.S. federal income tax purposes (our investors receive a Form 1099 and not a Schedule K-1).
Dividends we pay to U.S. shareholders will be treated as a dividend for U.S. federal tax purposes to the extent of our current or accumulated earnings and profits (as determined under U.S. tax principles).
Dividends in excess of our earnings and profits will be treated first as a nontaxable return of capital to the extent of your tax basis in our common shares (on a dollar-for-dollar basis) and thereafter as a capital gain.
Issuers of corporate securities, which are treated as Corporations for U.S. federal tax purposes, are required to complete U.S. Internal Revenue Service (“IRS”) Form 8937 to report organisational actions that affect the basis of those securities. When we pay a dividend in excess of our earnings and profits a Form 8937 will be published on our website. Form 8937 is required to be reported 45 days following the organisational action, therefore, an estimate of our earnings and profits will be calculated throughout the year. Further analysis will be conducted at year-end using final earnings and profits which may result in an amendment to Form 8937. To the extent, the dividend is anticipated to be treated as solely a dividend for U.S. federal tax purposes no IRS Form 8937 is required and accordingly no form will be published on our website.
GasLog Ltd. and GasLog Partners LP shareholders receive a U.S. IRS Form 1099 for tax purposes which are provided by your broker. Please contact your broker directly for all IRS Form 1099 inquiries.
The information contained herein and in the attachments do not constitute tax, accounting or legal advice and does not purport to be complete or to describe the consequences that may apply to particular categories of shareholders. We do not provide tax, accounting or legal advice. Any tax statements contained herein and in the attachment were not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed under the Internal Revenue Code. You are urged to consult your own tax advisor regarding the particular consequences to you, including the applicability and effect of all U.S. federal, state, and local tax laws and of the tax laws under any other non-U.S. jurisdiction.
