Certain Publicly Traded Partnership (PTP) securities are subject to specific withholding requirements under U.S. Internal Revenue Service (IRS) regulations at the time of sale. These withholdings are not commissions charged by Hapi but are a regulatory requirement effective January 1, 2023, as outlined in Section 1446(f) of the IRC.
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When you sell shares of a Publicly Traded Partnership (PTP), the buyer of the interest is required to withhold 10% of the total sale amount, regardless of whether you made a profit or not. This requirement applies exclusively to investors who are not U.S. tax residents.
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If you have questions about these withholdings, please visit the IRS website for more information.
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