Distributions
Distributions we pay to U.S. shareholders will be treated as a dividend for U.S. federal income tax purposes to the extent the distributions come from earnings and profits (“E&P”) and as a nondividend distribution or a return of capital (“ROC”) to the extent the distributions exceed E&P.
Distributions to a non-U.S. shareholder will not be subject to U.S. federal income tax or withholding tax if the non-U.S. shareholder is not engaged in a U.S. trade or business.
For more detailed tax commentary, please refer to the F-1 prospectus for Teekay Tankers Ltd.
The chart below describes the total distribution made by Teekay Tankers Ltd. in 2017 and the reporting of such distributions on United States Internal Revenue Service (“IRS”) Form 1099.
Please note that the determination of whether these distributions constitute a dividend from E&P or a ROC is not made for U.S. federal income tax purposes until the end of the fiscal year. If you are a U.S. shareholder and you received an IRS Form 1099 that does not set forth such amounts, you should contact your broker or tax advisor.
Holders are directed to consult their own tax advisors to determine the appropriate tax treatment with respect to the distributions.
| Record Date | Total Distribution | Amount Reported as a Qualified Dividend in Item 1 (b) of Form 1099 | % Reported as a Qualified Dividend in Item 1 (b) of Form 1099 | Amount Reported as a Nondividend distribution in Item 3 of Form 1099 | % Reported as a Nondividend Distribution in Item 3 of Form 1099 |
| 3/6/2017 | $4,962,575 | $ 0 | 0% | $4,962,575 | 100.00% |
| 5/29/2017 | $4,962,575 | $ 0 | 0% | $4,962,575 | 100.00% |
| 8/14/2017 | $5,376,723 | $ 0 | 0% | $5,376,723 | 100.00% |
| 11/20/2017 | $5,376,723 | $ 0 | 0% | $5,376,723 | 100.00% |
Disclaimer
This chart and related comments are intended as general information only and do not constitute tax advice. This information was not written or intended to be used, and it cannot be used, by any person as a basis for avoiding federal tax penalties that may be imposed on that person. Shareholders should consult their own tax advisors with respect to the specific tax consequences to them.
Teekay Tankers Ltd. makes no warranty either expressed or implied regarding any tax issues of its shareholders.
IRC §6045B Reporting
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
- 2011
Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK), was not required to file Form 8937 pursuant to Internal Revenue Code Section 6045B as there was no return of capital in respect of the 2015 distributions.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK), declared cash distributions to shareholders of record for the quarters ended December 31, 2016, March 31, 2017, June 30, 2017 and September 30, 2017 as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| February 22, 2016 | March 6, 2017 | $0.03 | March 10, 2017 |
| May 17, 2017 | May 29, 2017 | $0.03 | June 2, 2017 |
| August 3, 2017 | August 14, 2017 | $0.03 | August 18, 2017 |
| November 8, 2017 | November 20, 2017 | $0.03 | November 24, 2017 |
Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all shareholders of record the character of this distribution based upon Teekay Tanker’s earnings and profits as of the date of distribution.
We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Tankers’ distributions in their tax return.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK), declared cash distributions to shareholders of record for the quarters ended December 31, 2015, March 31, 2016, June 30, 2016 and September 30, 2016 as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| December 14, 2015 | February 2, 2016 | $0.12 | February 12, 2016 |
| May 18, 2016 | May 30, 2016 | $0.09 | June 3, 2016 |
| August 3, 2016 | August 15, 2016 | $0.06 | August 19, 2016 |
| November 3, 2016 | November 14, 2016 | $0.03 | November 18, 2016 |
Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all shareholders of record the character of this distribution based upon Teekay Tanker’s earnings and profits as of the date of distribution.
We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Tankers distribution in their tax return.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK), was not required to file Form 8937 pursuant to Internal Revenue Code Section 6045B as there was no return of capital in respect of the 2015 distributions.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK), declared cash distributions to shareholders of record for the quarters ended December 31, 2013, March 31, 2014, June 30, 2014 and September 30, 2014 as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| January 3, 2014 | January 17, 2014 | $0.03 | January 31, 2014 |
| April 4, 2014 | April 17, 2014 | $0.03 | April 30, 2014 |
| July 3, 2014 | July 18, 2014 | $0.03 | July 31, 2014 |
| October 3, 2014 | October 17, 2014 | $0.03 | October 31, 2014 |
Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all shareholders of record the character of this distribution based upon Teekay Tanker’s earnings and profits as of the date of distribution.
We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Tankers distribution in their tax return.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK), declared cash distributions to shareholders of record for the quarters ended December 31, 2012, March 31, 2013, June 30, 2013 and September 30, 2013 as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| February 20, 2013 | March 4, 2013 | $0.03 | March 11, 2013 |
| May 8, 2013 | May 20, 2013 | $0.03 | May 28, 2013 |
| July 8, 2013 | July 19, 2013 | $0.03 | July 31, 2013 |
| October 4, 2013 | October 16, 2013 | $0.03 | October 25, 2013 |
Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all shareholders of record the character of this distribution based upon Teekay Tanker’s earnings and profits as of the date of distribution.
We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Tankers distribution in their tax return.
Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK), declared cash distributions to unitholders of record for the quarters ended December 31, 2011, March 31, 2012, June 30, 2012 and September 30, 2012 as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| February 7, 2012 | February 21, 2012 | $0.11 | February 28, 2012 |
| May 16, 2012 | May 29, 2012 | $0.16 | June 5, 2012 |
| August 8, 2012 | August 20, 2012 | $0.11 | August 27, 2012 |
| November 7, 2012 | November 19, 2012 | $0.02 | November 26, 2012 |
Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the estimated character of this distribution based upon Teekay Tanker’s estimated earnings and profits as of the date of distribution. The numbers posted are an estimate of the effect of the distributions and will be updated once the final numbers are determined. The numbers posted should not be used for preparing individual shareholders income tax returns.
We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Tankers distribution in their tax return.
Attachment: Form 8937 – 2011 Revised
Teekay Tankers Ltd. (“Teekay Tankers”) (NYSE: TNK) declared cash distributions for the quarters ended December 31, 2010, March 31, 2011, June 30, 2011 and September 30, 2011 to shareholders of record as follows:
| Date Declared: | Date of Record: | Amount per Share: | Date Paid: |
| February 23, 2011 | March 8, 2011 | $0.22 | March 15, 2011 |
| May 11, 2011 | May 20, 2011 | $0.25 | May 27, 2011 |
| August 10, 2011 | August 19, 2011 | $0.21 | August 26, 2011 |
| November 9, 2011 | November 21, 2011 | $0.15 | November 28, 2011 |
Pursuant to Internal Revenue Code Section 6045B, the attached revised Form 8937 summarizes to all shareholders of record the character of the distribution based upon Teekay Tankers’ earnings and profits for the year ended December 31, 2011.
We encourage shareholders of record to consult their tax advisor for proper treatment of any Teekay Tankers distribution in their tax return.
Information for former shareholders of Tanker Investments Ltd (TIL)
For more information regarding the merger of TIL with Royal 2017 Ltd, a wholly owned subsidiary of Teekay Tankers Ltd (TNK) during 2017, including required tax reporting to shareholders by the company, please refer to [attached Form 8937].