The Canadian firm has already made four seed investments from BID II, which it raised in a little over a year. Yes, the K-1 Form you receive should include all information that is required by law for you to e-file your U.S. personal tax return. Why havent I received a K-1? Results reflect the construction of 12,000 telecom tower sites across our portfolios in India and France to accommodate mobile data growth and corresponding network densification requirements. Historically, our partnerships income has included Canadian and US source interest and dividends earned from subsidiaries that, when paid to a European unitholder, are subject to varying rates of U.S. and Canadian withholding taxes ranging from nil to 30%. After the end of Brookfield Infrastructure Partners' taxation year (December 31), the U.S. taxable income of Brookfield Infrastructure Partners is determined and allocated to all unitholders that are in turn required to report such income on their respective tax returns. If you are aregisteredCanadian resident holder and did not receive your Form T5013 for the previous taxation year please contact (866) 949-2771 or at Oaktree Real Estate Opportunities Fund IX seeks to raise $6bn. Consolidated Statements of Cash Flows, Brookfield Infrastructure Partners L.P. 1.1446(f)-4(b)(3)(ii)(A)(2). Brookfield Infrastructure Partners is a flow through entity for Canadian income tax purposes, and its income comes from holding companies the partnership owns. 1.1446(f)-4(b)(3)(ii)(A)(2). Instead, Brookfield Infrastructure Partners receives various types of passive investment income, such as interest, dividends and return of capital, from subsidiary corporations that carry on business in various jurisdictions. Brookfield Infrastructure Debt Fund II is focused on infrastructure debt, targeting mezzanine debt investments in high-quality core infrastructure assets primarily in North America, as well . Infrastructure Fund (the "Fund") For the period from February 25, 2022 (the performance launch date) to September 30, 2022 (the "Period") . Computershare This is a profile preview from the PitchBook Platform. The fund is located in Toronto, Canada and will invest in North and South America, Europe and Australasia. 1.1446(f)-4(b)(3)(ii)(A)(2). Brookfield Infrastructure Partners has issued qualified notices in accordance with Treas. On Jun 13, 2022, there was a 3 for 2 share split in the shares of Brookfield Infrastructure Corporation. In 2012, we acquired another company in the U.K. and merged the two operations. A significant portion of Brookfield Infrastructure Partners income is Bermuda source dividend which is a fully taxable "ordinary dividend. Email:bip.enquiries@brookfield.com, Evolving to offer the best of both worlds, Previously issued notices can be found in the Qualified Notices section below, Please also see a letter from counsel on this issue, Please also see a letter from counsel on this issue below, BIP Taxation Overview - Australian Investors, BIP Taxation Overview - European Investors, Market Value Information for Units of Brookfield Infrastructure Partners, 2023 Withholding Tax Information for Distributions, 2022 Canadian Taxable Income Calculation (Common), 2022 Canadian Taxable Income Calculation (Preferred - Series 1), 2022 Canadian Taxable Income Calculation (Preferred - Series 3), 2022 Canadian Taxable Income Calculation (Preferred - Series 7), 2022 Canadian Taxable Income Calculation (Preferred - Series 9), 2022 Canadian Taxable Income Calculation (Preferred - Series 11), 2022 Canadian Taxable Income Calculation (Preferred - Series 13), 2022 Canadian Taxable Income Calculation (Preferred - Series 14), Calculation of Adjusted Cost Base (Common), Calculation of Adjusted Cost Base (Preferred - Series 1), Calculation of Adjusted Cost Base (Preferred - Series 3), Calculation of Adjusted Cost Base (Preferred - Series 7), Calculation of Adjusted Cost Base (Preferred - Series 9), Calculation of Adjusted Cost Base (Preferred - Series 11), Calculation of Adjusted Cost Base (Preferred - Series 13), Calculation of Adjusted Cost Base (Preferred - Series 14). Not the case? We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Offering innovative, institutional-caliber investment expertise and solutions for the individual investor. Please also see a letter from counsel on this issue, as well as more detailed discussion on this new rule and its applicability to BIP units. Systems involved in the movement of freight, commodities and passengers. How can I obtain a tax credit for foreign taxes withheld? Consolidated Statements of Financial Position, Brookfield Infrastructure Corporation What is the tax nature of the income earned by Brookfield Infrastructure Partners? My tax software requires that I insert a six-digit Tax Shelter (TS) number. Because the withholding tax process is administered by the brokerage community rather than us, taxes withheld are only reported on Forms 1099-INT and 1099-DIV (and not on Schedule K-1). Learn more about the launch of our publicly listed pure-play Alternative Asset Manager. I owned units of Brookfield Infrastructure Partners L.P. prior to the formation of Brookfield Infrastructure Corporation. Can I E-File my tax return? Brookfield Infrastructure Partners does not have sufficient information to track the tax cost of units for each individual holder. The fund prefers to make impact investments in infrastructure. 2023 PitchBook. The rate of withholding varies, amongst other factors, depending on a holders country of tax residence, type of ownership account, and whether holders have provided their broker (or Brookfield Infrastructure Partners transfer agent in the case of registered unitholders) with the appropriate Internal Revenue Service ("IRS") Form (Form W-8BEN, W-8BEN-E, W-8-ECI, W-8EXP, W-8IMY or W-9) and Canada Revenue Agency ("CRA") Form (Form NR301, NR302, and NR303). No, Brookfield Infrastructure Partners has not and is not expected to generate effectively connected income (ECI) or commercial activity income (on a global basis). Is the UK government underestimating public outrage on sewage spills? We would generally expect Australian tax resident unitholders to treat Brookfield Infrastructure Partners L.P.'s distributions as unfranked dividends unless otherwise advised. Who applies the withholding tax? Issuer Size 6. Private Funds; Public Securities; Financial Advisors. Is Brookfield Infrastructure Partners a Limited Partnership, Corporation or Trust? Beneficial Canadian unitholders (i.e., those holding their units in street name with their brokerage) should receive a T5013 from their Canadian broker. Description. million electricity and natural gas connections, Here's What Can Provide Fillip to India's Infrastructure Privatisation Effort, Intel Signs $30 Billion Funding Partnership With Brookfield to Finance Chip-Factory Expansion, Brookfield Takes Impact Investing to the Infrastructure Mainstream, Critical First- and Last-Mile Rail Connections, A Leader in Data Center Infrastructure in Latin America, Connecting U.K. Homes to the Utility Grid, Owning and Operating Energy Infrastructure in Western Canada, An Integrated Logistics Provider in Brazil, A Leading Independent Communications Infrastructure Business, A Natural Gas Pipeline Accounting for More Than Half of Brazils Natural Gas Demand, Operating Large-Scale Container Terminals Out of Four Key Ports, Evolving to offer the best of both worlds. FFO growth on a same-store basis was 11%. What is my Adjusted Cost Basis? Louisville, KY 40202, Toll-Free:(877) 243-3717 Non-controlling interest attributable to: Redeemable partnership units held by Brookfield, Interest of others in operating subsidiaries, Share of (losses) earnings from associates and joint ventures, Non-controlling interest of others in operating subsidiaries. Log in. The fund is located in New York, New York. Sec. Brookfield Infrastructure Partners has not been and does not expect to be engaged in a U.S. trade or business within the meaning of Treas. Collecte et tri des dchets - Mtropole Nice Cte d'Azur Win whats next. When will I (non-registered unitholder) receive my Tax Form (T5013)? There may be minor differences due to exchange rates. Offering innovative, institutional-caliber investment expertise and solutions for the individual investor. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Brookfield Infrastructure Partners uses the CDS Innovations facility to provide information to Canadian brokers on or before the end of February following the end of each taxation year so that they can produce T5013 Forms. In 2009, as part of the restructuring of Babcock & Brown Infrastructure, we acquired a regulated U.K. distribution business connecting homes to the main utility grid. Additionally, Brookfield Infrastructure Partners is required to use reasonable efforts to send a Schedule K-1 to all unitholders, including those who may not require it. The filing was for a pooled investment fund: private equity fund The notice included securities offered of Equity,Pooled Investment Fund Interests Previously issued notices can be found in the Qualified Notices section below. Brookfield has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Note that as Brookfield Infrastructure Partners has not and is not expected to generate effectively connected income (ECI), we do not expect non-U.S. investors to be subject to U.S. tax withholding under IRC Section 1446(b) and 1446(f). Consolidated Statements of Operating Results, Brookfield Infrastructure Corporation A link has been emailed to you - check your inbox. Owning a unit of BIP LP does not provide you with a U.S. tax filing obligation. Brookfield Infrastructure Partners L.P. is one of the largest owners and operators of critical global infrastructure networks which facilitate the movement and storage of energy, water, freight, passengers and data. All rights reserved. Brookfield Asset Management has raised US$2.7bn (2.19bn) for its second infrastructure debt fund, according to a source close to the matter. Previously issued notices can be found in the Qualified Notices section below. Is the distribution I am paid from Brookfield Infrastructure Partners subject to Withholding Tax? VLI transports millions of tons of agricultural products and steel products that are critical to the Brazilian economy. In 2019, we acquired Genesee & Wyoming (G&W), a leading short haul operator with a network of over 22,000 km of track across the U.K. and North America. Railpens Cambridge portfolio already includes Cambridge Retail Parkand The BeehiveCentre, Separate account relationship withGCM Grosvenor expected tonon-core real estate, Singapores GICexpands exposure to logistics assets with4m sqft portfolio purchase, Copyright 19972023 IPE International Publishers Limited, Registered in England, Reg No. These positive factors were partially offset by an increase infuture U.K. tax rates, which led to the recognition of a non-recurring deferred tax expense during the year. Brookfield Infrastructure Partners is not anticipated to generate UBTI and has not generated any in prior years. 83870 Signes. Am I subject to U.S. tax withholding under IRC Section 1446(f) on the disposition of Brookfield Infrastructure Partner units? PDF BIPC - Board of Directors Charter Feb 2023 - bip.brookfield.com Click here to register, Not for publication, email or dissemination, AIMCo toasts conventional and renewable energy after 16.8% return, Driving sustainability: Bio-based innovations for roads, I Squared rainmaker Andreas Moon resigns exclusive, Q1 fundraising its not closing time yet, Whats the benefit to us? Alaska Permanent Fund questions GPs clubbing on deals, OMERS global infra chief Annesley Wallace to depart. For Australian residents, the tax cost of units is the amount paid for Brookfield Infrastructure Partners L.P. units plus any incidental costs incurred to acquire them. Welcome to IPE Real Assets. Toute l'anne 2023. Please contact your broker directly with questions on this form. Computershare The utilities segment generated FFO of $705 million compared with $659 million in the prior year. Can I E-File my tax return? The fund will target investments in primary areas of infrastructure which include transportation, renewable power, utilities and energy, and also . Brookfield Infrastructure Partners U.S. operations are carried out through U.S. resident corporate subsidiaries. BrookfieldGlobal Asset Management - Invested in long-term value As a result of the special distribution from Brookfield Infrastructure Partners L.P. in 2020, I received class A shares of Brookfield Infrastructure Corporation. A filing with the Securities Exchange Commission shows thatBrookfield Infrastructure Debt Fund II has closed. 1.1446(f)-4(b)(3)(iii) as applicable. All rights reserved. Global: 1-416-363-9491. What is Brookfield Infrastructure Partners Quebec Tax ID Number? Consequently, holders of Brookfield Infrastructure Partners units are advised to consult their own tax advisors with respect to their particular circumstances. Brookfield Infrastructure Partners is a Bermuda based limited partnership that is treated as a partnership for U.S. tax purposes. The Forms 1099-INT and DIV prepared by your broker will include information on any foreign withholding taxes that were withheld by your broker so that you may claim them, if eligible, in your tax return as a credit and/or deduction. Last week, rival firm Global Infrastructure Partners announced it had raised U$2.8bn for two infrastructure debt funds. Reg. Last years results included our U.K. smart meter portfolio which was divested earlier this year. 1.1446(f)-4(b)(3)(iii) as applicable. There may be minor differences due to exchange rates. Brookfield Closes Growth Fund with Over $500 Million In Committed Organic growth for the year of 9% reflected the initial benefits of elevated inflation levels, the commissioning of nearly $900 million in new capital projects over the last year, and higher market-sensitive revenues driven primarily by increased demand for transportation services. For the purpose of reporting foreign property by Canadian investors, pursuant to section 233.3 of the Canadian Income Tax Act, Brookfield Infrastructure Partners is not a specified foreign property and therefore does not need to be reported on Form T1135 Foreign Income Verification Statement. This information is available in the PitchBook Platform. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Brookfield Infrastructure Fund IV-A, L.P. Mailing Address: c/o Brookfield Asset Managemetn Inc. Brookfield Place 250 Vesey Street New York, New York 10281-023: . www.taxpackagesupport.com/brookfield. BOX 505000 BMO Nesbitt Burns Inc., (ii) represents the business judgment of the Manager . Industry Group 5. Brookfield Infrastructure Partners is not anticipated to generate UBTI and has not generated any in prior years. 1.1446(f)-4(b)(3)(ii)(A)(2). The capital was raised in less than 14 months and the fund has already committed capital to four seed assets. The Schedule K-1 is the U.S. equivalent of a Form T5013. Brookfield Asset Management is a premier global alternative asset manager with $725 billion of assets under management across renewable power & transition, infrastructure, private equity, real estate, and credit & insurance solutions. Please note that we are required to issue K-1 forms to all U.S. unitholders, regardless if their units are held in a tax deferred account such as an IRA. I believe my K-1 is incorrect who should I contact to fix this? Brookfield closes second global infrastructure debt fund Please note that ones personal tax circumstances must be taken into account and that the CRA will, in certain circumstances, require individuals to submit their tax returns in a paper format. Connatre le jour et les horaires o vos poubelles sont collectes dans votre commune. Brookfield closes second debt fund on $2.7bn | Infrastructure Investor The Canadian firm has already made four seed investments from BID II, which it raised in a little over a year. General Information Description Brookfield Infrastructure Fund II is a 2013 vintage infrastructure core fund managed by Brookfield Asset Management. I am a U.S. resident. In 2021, we acquired Inter Pipeline, a strategic long-haul pipeline network with interests in petrochemical facilities and bulk storage assets. Read our policy. I am a beneficial unitholder and havent received my T5013. Payments from holding companies in US and Bermuda to a US resident are generally not subject to withholding tax. Consequently, the brokers are responsible for withholding taxes as only they possess the requisite information about the unitholder that is necessary to calculate the appropriate amount to withhold as is typical for publicly traded securities. What is Brookfield Infrastructure Partners Partnership ID Number? Conference Call and Quarterly Earnings Details. Why does the $CAD cash I received not equal the amount reflected on my T5013? Inter Pipeline is a major petroleum transportation and natural gas liquids processing business based in Alberta, Canada. If you believe you have received a Schedule K-1 in error, wish to correct the K-1 you have been issued, or have any other questions related to your K-1, please contact Tax Package Support at(866) 949-2771. What is Brookfield Infrastructure Partners Partnership ID Number? 2021 results also reflect the acquisition of an additional interest in our Brazilian regulated gas transmission operation completed in April. BIF IV closes at $20bn becoming Brookfield's largest fund ever For enquiries regarding unit transfers, changes of address, distribution cheques and lost unit certificates, please contact: Computershare BOARD OF DIRECTORS CHARTER . USA identifies the source of the income as United States. The funds predecessor, Brookfield Infrastructure Debt Fund, raised $885 million and closed, Glossary, videos, podcasts, research in the Resource Center. Youll receive updates on upcoming events, special Does Brookfield Infrastructure Partners generate any Unrelated Business Taxable Income (UBTI)? Brookfield Infrastructure Corporation Reconciliation of Net Income to Funds from Operations, Brookfield Infrastructure Partners L.P. Payments from holding companies in Canada to a US resident such as dividends may be subject to withholding taxes. Comparative period financial results included a full year of earnings from our U.K. smart meter portfolio and North American district energy platform, both of which we sold inthe first half of 2021. Sec. Brookfield Asset Management closed its second global infrastructure debt fund, the $2.7 billion Brookfield Infrastructure Debt II, a spokeswoman confirmed in an email. The T5013 form does not require us to report a NAICS code but it would seem some personal software tax programs ask for them. The Fund follows on the US$2.7 billion Brookfield Americas Infrastructure Fund LP, which closed in 2010. The statutory filing/mailing requirement for Form T5013 is the end of March. Typically, brokers will prepare and distribute the Form T5013 in late March. Unitholders are solely responsible to accurately compute and track the tax cost of their Brookfield Infrastructure Partners units. Basic and diluted earnings per unit attributable to: Earnings from investments in associates and joint ventures, net of distributions received, Mark-to-market on hedging items, provisions and other, Net settlements of foreign exchange contracts, Distributions to limited and general partners, Net capital provided (to) by non-controlling interest and other, Share of losses (earnings) from investments in associates and joint ventures, FFO contribution from investments in associates and joint ventures, FFO attributable to non-controlling interests, Loans payable to Brookfield Infrastructure, Equity in net assets attributable to the Partnership, Remeasurement of exchangeable and class B shares, Mark-to-market and other (expense) income, Mark-to-market on hedging items and other, Disposal of subsidiaries, net of cash disposed, Purchase of long-lived assets, net of disposals, Settlement of foreign exchange hedging items, Capital provided to non-controlling interest, Proceeds from borrowings, net of repayments, Mark-to-market on hedging items and foreign currency revaluation, Dividends classified as interest expense and interest expense on intercompany loans. Click here. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructures results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares. or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its . Current year results also reflect elevated commodity prices across our existing businesses. Priodes d'ouverture. Brookfield Infrastructure Partners has issued qualified notices in accordance with Treas. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by BIP on its units. Why did I receive a Schedule K-1? Duration of Offering Does the Issuer intend this offering to last more than one year? Brookfield Infrastructure Fund III is a closed private equity fund managed by Brookfield Infrastructure Partners . Brookfield Infrastructure Fund III | Palico We have since achieved considerable growth through operational improvements and the addition of product lines. Reg. Payments from holding companies in Canada and Bermuda to a Canadian resident are not subject to withholding tax. 2021 was a remarkable year for Brookfield Infrastructure, highlighted by our strong organic growth, capital recycling accomplishments, and the deployment of significant capital into new investments and other growth initiatives, said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. Fund Investors. Brookfield Infrastructure Partners is a publicly traded partnership that does not earn active business income. BMU identifies the source of the income as Bermuda. Genesee & Wyoming is a leading short haul operator with a network of over 22,000 km of track across the U.K. and North America. Offering innovative, institutional-caliber investment expertise and solutions for the individual investor. Prior year results reflected an additional 12.5% ownership in our U.S. gas pipeline, which was sold in March. Brookfield Infrastructure Partners U.S. tax identification number (Employer Identification Number) is 98-0330282. 83870 Signes. A recording of the teleconference can be accessed at 1-855-859-2056 or +1-404-357-3406 (Conference ID: 7897200). Brookfield Asset Management is seeking to raise $25 billion for its fifth flagship infrastructure fund, its largest on record. The firm has already begun marketing the fund, which may exceed the . Unitholders are obligated to accurately compute the tax cost of their Brookfield Infrastructure Partners L.P. units. Dividends from Canada and US are "qualified dividends" and therefore eligible for a preferential U.S. income tax rate (for individuals)1. Previously issued notices can be found in the Qualified Notices section below. Management uses funds from operations per unit (FFO per unit) as a key measure to evaluate operating performance. Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe. The source of funds for the distributions will also affect how much, if any, of the distributions are subject to withholding tax. My tax software requires that I insert a North American Industry Classification System (NAICS) code. The Schedule K-1 is the U.S. equivalent of a Form T5013. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 1, Series 3, Series 7, Series 9, Series 11, Series 13 and Series 14 have also been declared, as well as the dividend for BIP Investment Corporation Senior Preferred Shares, Series 1. Is Brookfield Infrastructure Partners a Limited Partnership, Corporation or Trust?