HOUSTON, Sept. 06, 2022 (GLOBE NEWSWIRE) — Former unitholders of TC PipeLines, LP (TC PipeLines or TCP) who held an equity interest in 2021 can now access their 2021 Schedule K-3 tax information ( including certain international tax information) online at www.taxpackagesupport.com/tcpipelines.
On March 3, 2021, TC Energy Corporation (TC Energy) acquired all of the outstanding publicly held common units of TC PipeLines and became an indirect wholly-owned subsidiary of TC Energy. Although TCP is no longer publicly traded, there was a short period of public trading in early 2021 and any holder of TCP units during this period may have tax liabilities arising from their ownership of TCP units during this period. .
2021 is the first tax year for the new Internal Revenue Service (IRS) Schedule K-3, which requires detailed reporting by partnerships of non-U.S. activities. A partnership is required to send Schedule K-3 to partners if the partnership has non-US activities or has partners whose tax status would be affected by the return. Even if 100% of TC PipeLines’ business were effectively connected with a trade or business in the United States, the extent of the tax position of Unitholders cannot be reasonably known.
A limited number of unitholders (primarily foreign unitholders, unitholders calculating a foreign tax credit on their tax return and certain unitholders of corporations and/or partnerships) may need the information. details disclosed in Appendix K-3 for their specific reporting requirements. To the extent that Schedule K-3 applies to your federal tax filing needs, we encourage you to review the information in this form, consult the appropriate federal laws and guidelines, and consult with your tax advisor. .
To receive an electronic copy of your Schedule K-3 by email, you can call Tax Assistance toll-free at (877) 699-1091.
About TC PipeLines, LP
TC PipeLines, LP is an indirect wholly-owned subsidiary of TC Energy Corporation, which owns interests in eight federally regulated US interstate natural gas pipelines serving markets in the western, midwestern and northeastern United States.
For historical information about TC PipeLines, LP, visit www.tcpipelineslp.com.
Common shares of TC Energy trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit TCEnergy.com.
Call the Tax Package Helpline toll-free at (877) 699-1091
For tax forms, visit www.taxpackagesupport.com/tcpipelines
403-920-7911 or 800-361-6522
PDF available: http://ml.globenewswire.com/Resource/Download/bd1625c2-086a-4825-a0f4-f14363739586