On November 3, 2023, Energy Transfer LP (ET) and Crestwood Equity Partners LP (CEQP) completed their previously announced merger, in which ET acquired CEQP. Effective with the opening of the market on November 3, 2023, CEQP ceased to be a publicly-traded company and its common stock and preferred units, previously listed on the NYSE under the tickers symbol “CEQP” and “CEQP-P,” respectively, discontinued trading. For more information on the merger, click here.(Newsroom | Energy Transfer)
For tax year 2023, former CEQP unitholders that held CEQP units in 2023, but sold prior to the merger with ET are expected to receive a CEQP Schedule K-1 for the period from January 1, 2023 through November 2, 2023.
For tax year 2023, former CEQP unitholders that received ET units in 2023 via the ET/CEQP merger are expected to receive two tax packages – one for CEQP for the period from January 1, 2023 through November 2, 2023, as well as one for ET for the period from November 3, 2023 through December 31, 2023.
2022 K-1 tax packages were mailed March 15, 2023, and are available online at the links below.
Click here to access K-1 tax packages:
Please note, if needed, Schedule K-3s will be available at the links above by June 30, 2023.
If you need to make any changes or corrections to your K-1, please call Tax Package Support at the respective number below.
- CEQP Common Units
1 (800) 230-1134 - CEQP 9.25% Preferred Units
1 (844) 364-7567 - Oasis Midstream Partners
1 (833) 608-3510
QUALIFIED NOTICE
We are required to provide qualified notice to brokers and nominees that hold Crestwood units on behalf of non-U.S. investors under Treasury Regulation Sections 1.1446-4(b) and (d) and 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100.0%) of Crestwood’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, Crestwood’s distributions to non-U.S. investors are subject to federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%). Nominees, and not Crestwood, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.
Separately, for the purposes of withholding on sales transactions by non-U.S. investors under Treasury Regulation Section 1.1446(f)-4(a)(2), brokers should treat one hundred percent (100%) of the proceeds attributable to the sale of Partnership units as being attributable to a U.S. trade or business.
For specific Qualified Notices, click here.