US Shareholders
- 2024
- 2023
- 2022
February 15, 2024
IMPORTANT TAX NOTICE: 2023 PFIC STATUS
ATTENTION: U.S. SHAREHOLDERS
This statement is provided for shareholders of First Mining Gold Corp. (“First Mining”) who are United States persons for purposes of the U.S. Internal Revenue Code of 1986 (“the Code”), as amended and the regulations thereunder and are required to file a United States income tax return. It is not relevant to other shareholders.
First Mining is, more likely than not, considered to be a passive foreign investment company (“PFIC”) under §1297(a) of the United States Internal Revenue Code for the taxable year ended December 31, 2023. The determination as to whether any corporation was, or will be, a PFIC for a particular year depends, in part, on the application of complex U.S. federal income tax statutes, regulations, and the interpretation thereof. In addition, whether any corporation will be a PFIC for any tax year depends on its assets and income over the course of such tax year and as a result, the PFIC status of First Mining for 2023 and any future year is subject to a complex analysis and therefore cannot be determined with certainty. For First Mining’s shareholders that are subject to U.S. federal income tax, certain significant and potentially adverse United States federal income tax consequences result from this designation. These consequences may be generally mitigated by making a timely and effective election to treat First Mining as a Qualified Electing Fund under §1295 of the Code (a “QEF Election”).
Pursuant to the requirements of Treasury Regulation §1.1295-1(g)(1), the attached PFIC Annual Information Statement is being made available to U.S. shareholders who have made or intend to make a QEF Election. The attached PFIC Annual Information Statement contains information to enable you or your tax advisor to prepare your tax return if you make the QEF Election.
A U.S. shareholder who makes a QEF Election is required to annually include in income the pro rata share of the ordinary earnings and net capital gains of First Mining. The QEF Election is made by completing and attaching Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (Form 8621) to your timely-filed federal income tax return.
THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST U.S. SHAREHOLDERS IN MAKING CALCULATIONS AND DOES NOT CONSTITUTE TAX ADVICE. FIRST MINING DOES NOT PROVIDE TAX, ACCOUNTING OR LEGAL ADVICE AND IS UNABLE TO GIVE ADVICE IN THIS REGARD. WE STRONGLY URGE U.S. SHAREHOLDERS TO CONSULT WITH THEIR OWN TAX ADVISOR TO DETERMINE WHETHER THEY ARE SUBJECT TO U.S. FEDERAL INCOME TAX, AND IF SO, WHETHER THEY ARE ELIGIBLE TO MAKE ANY APPLICABLE ELECTIONS PERTAINING TO THE COMPANY’S STATUS AS A PFIC. ANY DECISION TO MAKE OR NOT MAKE ANY ELECTION THAT MAY BE AVAILABLE WILL DEPEND UPON A U.S. SHAREHOLDER’S PARTICULAR TAX SITUATION AND MAY HAVE SIGNIFICANT AND CONTINUING U.S. TAX CONSEQUENCES. ANYTHING CONTAINED IN THIS NOTICE CONCERNING ANY FEDERAL TAX OR OTHER ISSUE IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY ANY PERSON OR ENTITY FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER.
Further information on PFIC rules and the QEF Election is available from the Internal Revenue Service, including the following webpage: https://www.irs.gov/forms-pubs/about-form-8621 Instructions to complete Form 8621 may be found at: https://www.irs.gov/pub/irs-pdf/i8621.pdf?v=122104?v=0.202
For further information, U.S. Shareholders should consult their tax advisor or seek additional information at www.irs.gov
PFIC ANNUAL INFORMATION STATEMENT
First Mining Gold Corp.
- The first and last days of the taxable year of First Mining to which this information applies:
First Day: January 1, 2023
Last Day: December 31, 2023
- Ordinary earnings and net capital gains of First Mining for the taxable year specified in item 1 are:
Total for First Mining
Ordinary Earnings: Nil
Net Capital Gains: Nil
Each Shareholder’s Pro-Rata Share
Ordinary Earnings: Nil
Net Capital Gains: Nil
- Cash and fair market value of other property distributed or deemed distributed by First Mining for the taxable year specified in item 1 are:
Cash: Nil
Fair Market Value of Property: Nil
- First Mining will permit its shareholders to inspect and copy First Mining’s permanent books of account, records, and such other documents as may be maintained by First Mining that are necessary to establish that PFIC ordinary earnings and net capital gain, as provided in section 1293(e) of the Internal Revenue Code, are computed in accordance with U.S. income tax principles.
February 15, 2023
IMPORTANT TAX NOTICE: 2022 PFIC STATUS
ATTENTION: U.S. SHAREHOLDERS
This statement is provided for shareholders of First Mining Gold Corp. (“First Mining”) who are United States persons for purposes of the U.S. Internal Revenue Code of 1986 (“the Code”), as amended and the regulations thereunder and are required to file a United States income tax return. It is not relevant to other shareholders.
First Mining is, more likely than not, considered to be a passive foreign investment company (“PFIC”) under §1297(a) of the United States Internal Revenue Code for the taxable year ended December 31, 2022. The determination as to whether any corporation was, or will be, a PFIC for a particular year depends, in part, on the application of complex U.S. federal income tax statutes, regulations, and the interpretation thereof. In addition, whether any corporation will be a PFIC for any tax year depends on its assets and income over the course of such tax year and as a result, the PFIC status of First Mining for 2022 and any future year is subject to a complex analysis and therefore cannot be predicated with certainty. For First Mining’s shareholders that are subject to U.S. federal income tax, certain significant and potentially adverse United States federal income tax consequences result from this designation. These consequences may be generally mitigated by making a timely and effective election to treat First Mining as a Qualified Electing Fund under §1295 of the Code (a “QEF Election”).
Pursuant to the requirements of Treasury Regulation §1.1295-1(g)(1), the attached PFIC Annual Information Statement is being made available to U.S. shareholders who have made or intend to make a QEF Election. The attached PFIC Annual Information Statement contains information to enable you or your tax advisor to prepare your tax return if you make the QEF Election.
A U.S. shareholder who makes a QEF Election is required to annually include in income the pro rata share of the ordinary earnings and net capital gains of First Mining. The QEF Election is made by completing and attaching Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (Form 8621) to your timely-filed federal income tax return.
THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST U.S. SHAREHOLDERS IN MAKING CALCULATIONS AND DOES NOT CONSTITUTE TAX ADVICE. WE STRONGLY URGE U.S. SHAREHOLDERS TO CONSULT WITH THEIR OWN TAX ADVISOR TO DETERMINE WHETHER THEY ARE SUBJECT TO U.S. FEDERAL INCOME TAX, AND IF SO, WHETHER THEY ARE ELIGIBLE TO MAKE ANY APPLICABLE ELECTIONS PERTAINING TO THE COMPANY’S STATUS AS A PFIC. ANY DECISION TO MAKE OR NOT MAKE ANY ELECTION THAT MAY BE AVAILABLE WILL DEPEND UPON A U.S. SHAREHOLDER’S PARTICULAR TAX SITUATION AND MAY HAVE SIGNIFICANT AND CONTINUING U.S. TAX CONSEQUENCES. FIRST MINING IS UNABLE TO GIVE ADVICE IN THIS REGARD.
Further information on PFIC rules and the QEF election is available from the Internal Revenue Service, including the following webpage: https://www.irs.gov/forms-pubs/about-form-8621. Instructions to complete Form 8621 may be found at: https://www.irs.gov/pub/irs-pdf/i8621.pdf?v=122104?v=0.296
For further information, U.S. Shareholders should consult their tax advisor or seek additional information at www.irs.gov.
PFIC ANNUAL INFORMATION STATEMENT
First Mining Gold Corp.
- The first and last days of the taxable year of First Mining to which this information applies:
First Day: January 1, 2022
Last Day: December 31, 2022
- Ordinary earnings and net capital gains of First Mining for the taxable year specified in item 1 are:
Total for First Mining
Ordinary Earnings: Nil
Net Capital Gains: Nil
Each Shareholder’s Pro-Rata Share
Ordinary Earnings: Nil
Net Capital Gains: Nil
- Cash and fair market value of other property distributed or deemed distributed by First Mining for the taxable year specified in item 1 are:
Cash: Nil
Fair Market Value of Property: Nil
- First Mining will permit its shareholders to inspect and copy First Mining’s permanent books of account, records, and such other documents as may be maintained by First Mining that are necessary to establish that PFIC ordinary earnings and net capital gain, as provided in section 1293(e) of the Internal Revenue Code, are computed in accordance with U.S. income tax principles.
February 18, 2022
IMPORTANT TAX NOTICE: 2021 PFIC STATUS
ATTENTION: U.S. SHAREHOLDERS
This statement is provided for shareholders of First Mining Gold Corp. (“First Mining”) who are United States persons for purposes of the U.S. Internal Revenue Code of 1986 (“the Code”), as amended and the regulations thereunder and are required to file a United States income tax return. It is not relevant to other shareholders.
First Mining is, more likely than not, considered to be a passive foreign investment company (“PFIC”) under §1297(a) of the United States Internal Revenue Code for the taxable year ended December 31, 2021. The determination as to whether any corporation was, or will be, a PFIC for a particular year depends, in part, on the application of complex U.S. federal income tax statutes, regulations, and the interpretation thereof. In addition, whether any corporation will be a PFIC for any tax year depends on its assets and income over the course of such tax year and as a result, the PFIC status of First Mining for 2021 and any future year is subject to a complex analysis and therefore cannot be predicated with certainty. For First Mining’s shareholders that are subject to U.S. federal income tax, certain significant and potentially adverse United States federal income tax consequences result from this designation. These consequences may be generally mitigated by making a timely and effective election to treat First Mining as a Qualified Electing Fund under §1295 of the Code (a “QEF Election”).
Pursuant to the requirements of Treasury Regulation §1.1295-1(g)(1), the attached PFIC Annual Information Statement is being made available to U.S. shareholders who have made or intend to make a QEF Election. The attached PFIC Annual Information Statement contains information to enable you or your tax advisor to prepare your tax return if you make the QEF Election.
A U.S. shareholder who makes a QEF Election is required to annually include in income the pro rata share of the ordinary earnings and net capital gains of First Mining. The QEF Election is made by completing and attaching Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (Form 8621) to your timely-filed federal income tax return.
THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST U.S. SHAREHOLDERS IN MAKING CALCULATIONS AND DOES NOT CONSTITUTE TAX ADVICE. WE STRONGLY URGE U.S. SHAREHOLDERS TO CONSULT WITH THEIR OWN TAX ADVISOR TO DETERMINE WHETHER THEY ARE SUBJECT TO U.S. FEDERAL INCOME TAX, AND IF SO, WHETHER THEY ARE ELIGIBLE TO MAKE ANY APPLICABLE ELECTIONS PERTAINING TO THE COMPANY’S STATUS AS A PFIC. ANY DECISION TO MAKE OR NOT MAKE ANY ELECTION THAT MAY BE AVAILABLE WILL DEPEND UPON A U.S. SHAREHOLDER’S PARTICULAR TAX SITUATION AND MAY HAVE SIGNIFICANT AND CONTINUING U.S. TAX CONSEQUENCES. FIRST MINING IS UNABLE TO GIVE ADVICE IN THIS REGARD.
Further information on PFIC rules and the QEF election is available from the Internal Revenue Service, including the following webpage: https://www.irs.gov/forms-pubs/about-form-8621. Instructions to complete Form 8621 may be found at: https://www.irs.gov/pub/irs-pdf/i8621.pdf?v=122104
For further information, U.S. Shareholders should consult their tax advisor or seek additional information at www.irs.gov.
PFIC ANNUAL INFORMATION STATEMENT
First Mining Gold Corp.
- The first and last days of the taxable year of First Mining to which this information applies:
First Day: January 1, 2021
Last Day: December 31, 2021
- Ordinary earnings and net capital gains of First Mining for the taxable year specified in item 1 are:
Total for First Mining
Ordinary Earnings: Nil
Net Capital Gains: Nil
Each Shareholder’s Pro-Rata Share
Ordinary Earnings: Nil
Net Capital Gains: Nil
- Cash and fair market value of other property distributed or deemed distributed by First Mining for the taxable year specified in item 1 are:
Cash: Nil
Fair Market Value of Property: Nil