Investment Q&A

Q: Hi. I understand recently about the partnership conditions for Canadian investors. Td wants me to get a usTIN number. If I don’t do that what happens? Do I get fined? Is my security confiscated? Do I end up in jail? What happens if I just sell the security now?

Q: Hello 5i Team

Could you please review the three listed US Oil & Gas midstream companies which are not MLPs?

Please rank in order which would be the best company(s) for allocation of capital.

Are there any other US C-Corporation midstream companies which I should be reviewing?

These would be held in a US dollar denominated RRSP account for long term growth and income.

Thank you

Q: Hello 5i,

GIC's are about 15% of our portfolio with BTI and EPD each at 1.5%. GIC's (laddered strategy) roll over between October and March. Would you recommend 1 or 2 year GIC's (@5.5%), 5-year GIC @5%, add to EPD or BTI , or do you recommend a bond or mix of bonds? We are in our mid 60's, retired, risk tolerance is medium.

Thank you for your Service
D&J

Q: I have received below email from Scotiaitrade since I have EPD shares in my RRSP account. My understanding was that in registered accounts I don't have to file a US tax return for PTPs disposition or distributions. I called Scotiaitrade and they did not provide any additional details for registered accounts and asked me to apply for US Tax Identification Number and consult my accountant for filing US tax return. Any details you may have would be appreciated.



In December 2022, Scotia iTRADE sent you an email advising of industry-wide changes that came into effect on January 1, 2023 and that impact your previous and/or current holdings of certain publicly traded partnership units (PTPs).

As part of these changes, a 10% withholding tax may be applied to certain distributions in addition to the usual 37% withholding tax on U.S. business income for non-U.S. persons. In the event of a disposition or transfer of the impacted PTPs a 10% withholding tax will also be applied to the gross proceeds in addition to the withholding tax on distributions.

Since you hold or have held impacted PTPs after January 1st, 2023, you must obtain a U.S. Tax Identification Number (TIN) and provide it to Scotia iTRADE by August 1, 2023. Scotia iTRADE is required to provide the Internal Revenue Service (IRS) with your name and address as part of our obligation to report beneficial ownership of impacted PTPs and thereby assist the IRS with reconciliation of US tax filings on an annual basis.

We ask that you apply for a U.S. TIN as soon as possible and call Customer Service at 1 -888-872-3388, Monday to Friday, 8 a.m. to 8 p.m. ET, to provide this information once you have received it.

If you have already obtained a U.S. TIN from the IRS though have not yet provided it to Scotia iTRADE, then please call Customer Service by August 1, 2023.

For help with requesting a U.S. TIN please refer to the following IRS website which outlines the application process: https://www.irs.gov/individuals/international-taxpayers/taxpayer-identification-numbers-tin and speak with your accountant and/or tax advisor should you have further questions.

Scotia iTRADE does not provide tax advice. If you have questions about the tax implications related to the PTPs held in your account, please consult with a tax advisor. If you have any questions about the transactions associated with the PTPs held in your account, please contact Customer Service at 1 -888-872-3388, Monday to Friday, 8 a.m. to 8 p.m. ET.

Q: I owned epd in canadian rsp acc sold and ended ep tax can I get it back

Q: Enterprise Products is a Limited Partnership versus Sabine Royalty Trust, I have a general understanding of LP's but would like to know how a royalty trust would differ from an income and risk point of view. These are both listed on the NYSE. I do have holdings in EPD, not in SBR... yet?

Thanks, Doug

Q: Hello 5i
Please comment on the similarities and/or differences of these two companies. I know you like ENB but could EPD be investable also?
Thank you
Dave

Q: I hold 13% of my non-registered account in energy and utilities, spread across the following stocks, with a focus on long-term income.

Would you suggest any consolidations or removal of any of these positions?

AQN, 9.70% of total, 3% gain
CU, 4.78% of total, 3% gain
ENB, 21.43% of total, 31% gain
EPD, 7.50% of total, 2% gain
FTS, 8.14% of total, 1% gain
KMI, 7.54% of total, 6% gain
PXT, 7.19% of total, 15% gain
SPB, 8.48% of total, 3% loss
TPZ, 4.19% of total, 8% gain
TRP, 4.86% of total, 11% gain
WMB, 4.63% of total, 10% gain
ZWU, 11.55% of total, flat

Thanks as always for your excellent work! Aaron

Q: Are these good for growth & Dividends? Thanks!

Q: Hello 5i,

We are considering moving our ENB position into two other stocks, CNQ and EPD.
1. Is CNQ considered to be a safer haven than ENB at this time with higher 3-year upside?
2. Would you recommend EPD over ENB now and for the next 3-years?

Cheers,
Debbie and Jerry

Q: I am looking for an oil &pipeline company and am considering EPD & OKE.
Which would you prefer or if you have another suggestion... one in US market and one in Canada. Thank you

Q: Please provide your comments and financial position on these LNG producers listed large to small on market cap.
What percentage of their business is strictly LNG.
Are dividends sustainable that are ranging from about 7 to 15%.
thank you

Q: What is your projection of 3rd quarter results.
How do you currently view this company and the sector in general.

Thank you, John

Q: Hello,
I have a question about the potential need for a Canadian citizen to fie a USA tax return, stemming from their investment in certain assets. I hold both BPY.UN and EPD in various registered accounts (RRSP, LIRA & TFSA). Subsequent to filing my 2019 Canadian tax return, I am now receiving documentation from both Brookfield and Enterprise Product Partners L.P. that would appear to indicate there might be some desire on the part of the U.S. government that I file a Schedule K-1 form, related to income I received from these two entities, during 2019. My questions are:

As a Canadian citizen who holds these investments within my registered accounts, am I in any way compelled to file a Schedule K-1 and/or any associated USA Federal or State tax returns?
Whether compelled to file them or not, is there anything potentially to be gained on my part, if I were to file the U.S.A. federal and any state specific tax returns? (The recovery of any withholding taxes on the income I received in 2019, for instance)

Thank you!

Q: You have commented on this company in the past.
What are your current views and what does your crystal ball show going forward.
Thank you

Q: I hold Enterprise Product Partners in my RRSP account. I own this because the US seems less risky to pipelines in general. They announced further expansion with added capacity into 2021 and 2022. I know you don't cover US stocks but wonder if you could comment on debt levels, dividend coverage, etc.

Thanks for the fine service you provide

Q: Greetings from the West. Coast .
What is your opinion of Enterprise Product Partners as a long term hold ?
Thank Rick