Tax Information

2018 TOO UK Tax Strategy

Tax Treatment of Partnership for Investors

The Partnership has elected to be treated as a C-Corporation for tax purposes (our investors receive the standard 1099 form and not a K-1 form).

Distributions we pay to U.S. unitholders 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 we pay to a non-U.S. unitholder will not be subject to U.S. federal income tax or withholding tax if the non-U.S. unitholder is not engaged in a U.S. trade or business.

For more detailed tax commentary, please refer to the F-1 prospectus for Teekay Offshore Partners L.P. (“TOO”).

The chart below describes the total distributions made by TOO in 2018 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. unitholder 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.

Common Units

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
02/02/2018 $4,100,452 $ 0 0.00% $4,100,452 100.00%
05/04/2018 $4,103,145 $ 0 0.00% $4,103,145 100.00%
08/03/2018 $4,103,150 $ 0 0.00% $4,103,150 100.00%
11/02/2018 $4,103,150 $ 0 0.00% $4,103,150 100.00%

Series A Preferred Units

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
02/08/2018 $2,718,600 $ 0 0.00% $2,718,600 100.00%
05/08/2018 $2,718,600 $ 0 0.00% $2,718,600 100.00%
08/08/2018 $2,718,600 $ 0 0.00% $2,718,600 100.00%
11/08/2018 $2,718,600 $ 0 0.00% $2,718,600 100.00%

 Series B Preferred Units

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
02/08/2018 $2,656.500 $ 0 0.00% $2,656.500 100.00%
05/08/2018 $2,656,500 $ 0 0.00% $2,656,500 100.00%
08/08/2018 $2,656,500 $ 0 0.00% $2,656,500 100.00%
11/08/2018 $2,656,500 $ 0 0.00% $2,656,500 100.00%

Series E Preferred Units

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
05/08/2018 $3,313,344 $ 0 0.00% $3,313,344 100.00%
08/08/2018 $2,662,500 $ 0 0.00% $2,662,500 100.00%
11/08/2018 $$2,662,500 $ 0 0.00% $2,662,500 100.00%

IRC §6045B Reporting

  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011

2018 Form 8937 – TOO Distributions

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to the common unitholders of record for the quarters ended December 31, 2017, March 31, 2018, June 30, 2018, and September 30, 2018 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 4, 2018 February 2, 2018 $0.01 February 9, 2018
April 4, 2018 May 4, 2018 $0.01 May 11, 2018
July 5, 2018 August 3, 2018 $0.01 August 10, 2018
October 3, 2018 November 2, 2018 $0.01 November 9, 2018

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series A preferred unitholders of record for the periods from November 15, 2017 to February 14, 2018, February 15, 2018 to May 14, 2018, May 15, 2018 to August 14, 2018, and August 15, 2018 to November 14, 2018 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 4, 2018 February 8, 2018 $0.4531 February 15, 2018
April 4, 2018 May 8, 2018 $0.4531 May 15, 2018
July 5, 2018 August 8, 2018 $0.4531 August 15, 2018
October 3, 2018 November 8, 2018 $0.4531 November 15, 2018

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series B preferred unitholders of record for the periods from November 15, 2017 to February 14, 2018, February 15, 2018 to May 14, 2018, May 15, 2018 to August 14, 2018, and August 15, 2018 to November 14, 2018 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 4, 2018 February 8, 2018 $0.5313 February 15, 2018
April 4, 2018 May 8, 2018 $0.5313 May 15, 2018
July 5, 2018 August 8, 2018 $0.5313 August 15, 2018
October 3, 2018 November 8, 2018 $0.5313 November 15, 2018

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series E preferred unitholders of record for the period from January 23, 2018 to May 14, 2018, May 15, 2018 to August 14, 2018 and August 15, 2018 to November 14, 2018.

Date Declared: Date of Record: Amount per Unit: Date Paid:
April 4, 2018 May 8, 2018 $0.69028 May 15, 2018
July 5, 2018 August 8, 2018 $0.5547 August 15, 2018
October 3, 2018 November 8, 2018 $0.5547 November 15, 2018

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay Offshore’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay Offshore distribution in their tax return.

2017 Form 8937 – TOO Distributions

2017 Form 8937 – TOO Redemptions

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to the common unitholders 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 Unit: Date Paid:
January 3, 2017 February 3, 2017 $0.11 February 10, 2017
April 3, 2017 May 5, 2017 $0.11 May 12, 2017
July 27, 2017 August 7, 2017 $0.01 August 11, 2017
October 3, 2017 November 3, 2017 $0.01 November 10, 2017

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series A preferred unitholders of record for the periods from November 15, 2016 to February 14, 2017, February 15, 2017 to May 14, 2017, May 15, 2017 to August 14, 2017, and August 15, 2017 to November 14, 2017 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 3, 2017 February 8, 2017 $0.4531 February 15, 2017
April 3, 2017 May 8, 2017 $0.4531 May 15, 2017
July 27, 2017 August 8, 2017 $0.4531 August 15, 2017
October 3, 2017 November 8, 2017 $0.4531 November 15, 2017

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series B preferred unitholders of record for the periods from November 15, 2016 to February 14, 2017, February 15, 2017 to May 14, 2017, May 15, 2017 to August 14, 2017, and August 15, 2017 to November 14, 2017 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 3, 2017 February 8, 2017 $0.5313 February 15, 2017
April 3, 2017 May 8, 2017 $0.5313 May 15, 2017
July 27, 2017 August 8, 2017 $0.5313 August 15, 2017
October 3, 2017 November 8, 2017 $0.5313 November 15, 2017

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared stock distributions to the Series C-1 preferred unitholders of record for the periods from November 15, 2016 to February 14, 2017, and February 15, 2017 to May 14, 2017 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 3, 2017 February 8, 2017 $0.5149 February 15, 2017
April 3, 20176 May 8, 2017 $0.5149 May 15, 2017

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared stock distributions to the Series D preferred unitholders of record for the periods from November 15, 2016 to February 14, 2017, and February 15, 2017 to May 14, 2017 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 3, 2017 February 8, 2017/td> $0.6563 February 15, 2017
April 3, 2017 May 8, 2017 $0.6563 May 15, 2017

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay Offshore’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay Offshore distribution in their tax return.

Attachment: Form 8937 – 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to the common unitholders 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 Unit: Date Paid:
January 20, 2016 February 5, 2016 $0.11 February 12, 2016
April 1, 2016 April 29, 2016 $0.11 May 13, 2016
July 1, 2016 July 29, 2016 $0.11 August 12, 2016
October 3, 2016 November 4, 2016 $0.11 November 10, 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series A preferred unitholders of record for the periods from November 15, 2015 to February 14, 2016, February 15, 2016 to May 14, 2016, May 15, 2016 to August 14, 2016, and August 15, 2016 to November 14, 2016 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 20, 2016 February 5, 2016 $0.4531 February 12, 2016
April 1, 2016 May 6, 2016 $0.4531 May 13, 2016
July 1, 2016 August 8, 2016 $0.4531 August 15, 2016
October 3, 2016 November 8, 2016 $0.4531 November 15, 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series B preferred unitholders of record for the periods from November 15, 2015 to February 14, 2016, February 15, 2016 to May 14, 2016, May 15, 2016 to August 14, 2016, and August 15, 2016 to November 14, 2016 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 20, 2016 February 5, 2016 $0.5313 February 12, 2016
April 1, 2016 May 6, 2016 $0.5313 May 13, 2016
July 1, 2016 August 8, 2016 $0.5313 August 15, 2016
October 3, 2016 November 8, 2016 $0.5313 November 15, 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series C preferred unitholders of record for the period from November 15, 2015 to February 14, 2016 and February 15, 2016 to May 14, 2016.

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 20, 2016 February 5, 2016 $0.5149 February 12, 2016
April 1, 2016 May 6, 2016 $0.5149 May 13, 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared stock distributions to the Series C-1 preferred unitholders of record for the periods from May 15, 2016 to August 14, 2016, and August 15, 2016 to November 14, 2016 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
July 1, 2016 August 8, 2016 $0.5149 August 15, 2016
October 3, 2016 November 8, 2016 $0.5149 November 15, 2016

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared stock distributions to the Series D preferred unitholders of record for the periods from June 29, 2016 to August 14, 2016, and August 15, 2016 to November 14, 2016 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
July 1, 2016 August 8, 2016 $0.3354 August 15, 2016
October 3, 2016 November 8, 2016 $0.6563 November 15, 2016

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay Offshore’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay Offshore distribution in their tax return.

Attachment: Form 8937 – 2015

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to the common unitholders of record for the quarters ended December 31, 2014, March 31, 2015, June 30, 2015, and September 30, 2015 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 2, 2015 January 15, 2015 $0.5384 February 13, 2015
April 2, 2015 April 13, 2015 $0.5384 May 15, 2015
July 2, 2015 July 14, 2015 $0.5384 August 14, 2015
October 2, 2015 October 13, 2015 $0.5600 November 13, 2015

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series A preferred unitholders of record for the periods from November 15, 2014 to February 15, 2015, February 15, 2015 to May 15, 2015, May 15, 2015 to August 15, 2015, and August 15, 2015 to November 14, 2015 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 2, 2015 February 6, 2015 $0.4531 February 13, 2015
April 2, 2015 May 8, 2015 $0.4531 May 15, 2015
July 2, 2015 August 10, 2015 $0.4531 August 17, 2015
October 2, 2015 November 6, 2015 $0.4531 November 13, 2015

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series B preferred unitholders of record for the periods from April 20, 2015 to August 15, 2015, and August 15, 2015 to November 14, 2015 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
July 2, 2015 August 10, 2015 $0.6788 August 17, 2015
October 2, 2015 November 6, 2015 $0.5313 November 13, 2015

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series C preferred unitholders of record for the period from July 1, 2015 to November 14, 2015 for 5,427,975 Series C Preferred Units and for the period from July 15, 2015 to November 14, 2015 for 5,010,438 Series C Preferred Units as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
October 2, 2015 November 6, 2015 $0.7667 November 13, 2015
October 2, 2015 November 6, 2015 $0.6866 November 13, 2015

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay Offshore’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay Offshore distribution in their tax return.

Attachment: Form 8937 – 2014

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to the common unitholders 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 Unit: Date Paid:
January 15, 2014 January 31, 2014 $0.5384 February 14, 2014
April 9, 2014 April 25, 2014 $0.5384 May 9, 2014
July 9, 2014 July 25, 2014 $0.5384 August 8, 2014
October 3, 2014 October 17, 2014 $0.5384 November 14, 2014

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to the Series A preferred unitholders of record for the periods from November 15, 2013 to February 15, 2014, February 15, 2014 to May 15, 2014, May 15, 2014 to August 15, 2014, and August 15, 2014 to November 15, 2014 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 15, 2014 January 31, 2014 $0.4531 February 15, 2014
April 9, 2014 May 2, 2014 $0.4531 May 15, 2014
Junly 9, 2014 August 1, 2014 $0.4531 August 15, 2014
October 3, 2014 November 7, 2014 $0.4531 November 14, 2014

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay Offshore’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay Offshore distribution in their tax return.

Attachment: Form 8937 – 2013

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions to common unitholders 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 Unit: Date Paid:
January 18, 2013 February 4, 2013 $0.5125 February 14, 2013
April 18, 2013 April 30, 2013 $0.5253 May 14, 2013
July 12, 2013 July 23, 2013 $0.5253 August 8, 2013
October 11, 2013 October 23, 2013 $0.5253 November 8, 2013

Teekay Offshore GP LLC, the general partner of Teekay Offshore declared cash distributions to Series A preferred unitholders of record for the periods from April 30, 2013 to August 15, 2013 and August 15, 2013 to November 15, 2013 as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
July 29, 2013 August 8, 2013 $0.5286 August 15, 2013
October 29, 2013 November 8, 2013 $0.4531 November 15, 2013

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of this distribution based upon Teekay Offshore’s estimated 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 Offshore distribution in their tax return.

The numbers in the attached Form 8937 are estimates and should not be used for preparing tax returns.  The finalized numbers will be posted once complete.

Attachment: Form 8937 – 2012

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), 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 Unit: Date Paid:
January 19, 2012 February 1, 2012 $0.50 February 14, 2012
April 12, 2012 April 23, 2012 $0.5125 May 14, 2012
July 13, 2012 July 25, 2012 $0.5125 August 10, 2012
October 12, 2012 October 24, 2012 $0.5125 November 9, 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 Offshore’s estimated earnings and profits as of the date of distribution. The numbers posted are an estimate of the effect and will be updated once the final numbers are determined. The numbers posted should not be used for preparing individual shareholder income tax returns.

We encourage holders of record to consult their Tax Advisor for proper treatment of any Teekay Offshore distribution in their tax return.

Attachment: Form 8937 – 2011 Revised

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE: TOO), declared cash distributions for the quarters ended December 31, 2010, March 31, 2011, June 30, 2011 and September 30, 2011 to unitholders of record as follows:

Date Declared: Date of Record: Amount per Unit: Date Paid:
January 26, 2011 February 7, 2011 $0.475 February 14, 2011
April 21, 2011 May 6, 2011 $0.50 May 13, 2011
July 22, 2011 August 5, 2011 $0.50 August 12, 2011
October 18, 2011 November 2, 2011 $0.50 November 14, 2011

Pursuant to Internal Revenue Code Section 6045B, the attached revised Form 8937 summarizes to all unitholders of record the character of the distribution based upon Teekay Offshore’s earnings and profits for the year ended December 31, 2011.

We encourage unitholders of record to consult their tax advisor for proper treatment of any Teekay Offshore distribution in their tax return.