How to Invest

ONEOK Partners units are traded on the New York Stock Exchange (NYSE: OKS), and can be purchased through a broker, other financial institution or brokerage house. ONEOK Partners does not have a direct purchase plan.

ONEOK Partners is a publicly traded master limited partnership (MLP). Investors in MLPs receive a K-1 form during tax season, instead of a 1099, which provides information necessary for their tax return.

To learn more about MLPs, visit

ONEOK Partners, L.P. (NYSE: OKS) is a publicly traded master limited partnership. As such, unitholders are limited partners in ONEOK Partners as opposed to stockholders in a corporation. A partnership is generally not subject to federal or state income tax. Instead, each partner is required to report their allocable share of ONEOK Partners' taxable income, gain, deduction or loss on their individual income tax returns.

ONEOK Partners, L.P. determines taxable income annually and allocates it to each partner in accordance with their particular percentage interest in the partnership, without regard to the amount of cash distributions. Cash distributed during the year may be more or less than the amount of taxable income allocated. Generally cash distributions are considered a return of capital and reduce the tax basis of a limited partner's units.

Schedule K-1
2016 K-1 information is expected to be available online March 2, 2017, please visit the ONEOK Partners K-1 Tax Reporting Website to download your K-1. ONEOK Partners, L.P. will mail 2016 Tax Packages, including schedule K-1s, directly to unitholders by March 7, 2017. If you have questions regarding your tax package, please call our Tax Package Support Center at 1-800-371-2188.

ONEOK Partners, L.P. is required to furnish each unitholder with a tax package, which includes a Schedule K-1 that describes the unitholder's respective share of ONEOK Partners' income, gain, loss and deductions for the tax year specified. Receipt of Schedule K-1 is not proof of ownership of common units and this fact is stated on the form. For specific questions regarding your ownership of common units in the partnership, please contact the brokerage firm holding your units. Registered unitholders should contact Wells Fargo Investor Services, the transfer agent, for inquiries.

The following information is provided for your general guidance. The information is not intended to be, nor should it be construed as, the rendering of professional or legal tax advice. The tax information discussed below is based on existing U.S. federal and state laws and regulations as interpreted by the General Partner. Before undertaking any tax filing, we strongly recommend that you refer to the appropriate federal and state income tax laws or consult with your personal tax advisor.

ONEOK Partners K-1 Tax Reporting Website.

What is a Schedule K-1?

Schedule K-1 is the form used to provide each unitholder with their respective tax information for a given tax year. Each year ONEOK Partners is required to file a Form 1065 with the IRS which includes a Schedule K-1 for each unitholder.

Why am I receiving a Schedule K-1 rather than a Form 1099?

A Schedule K-1 is the required form for reporting a partner's share of the partnership tax items.

Do I report the cash I received as my taxable income?

No. You should report the taxable income items shown on your Schedule K-1 provided to you by ONEOK Partners.

Why is the amount of cash I received different from the amount I have to report on my individual income tax return?

The cash you received is a return of capital and represents your share of ONEOK Partners' available cash. The amount you are required to include in you individual income tax return is your share of ONEOK Partners' taxable income and related items which are allocated based on the number of units you owned during the tax year and reported on your Schedule K-1. These amounts differ primarily due to changes in cash flow and depreciation (a non-cash expense).

What were the distributions paid in 2016?

2016 distributions were:

Payment Date Amount / Unit
11/14/2016 $0.79
8/14/2016 $0.79
5/13/2016 $0.79
2/12/2016 $0.79

How is my basis affected by cash distributions and partnership net income?

The cash distributions you receive are a return of capital and decrease your basis in ONEOK Partners. At year-end, your basis is increased/decreased by your share of ONEOK Partners' taxable income/loss allocated to you on your Schedule K-1.

My units have been sold. Why was a Schedule K-1 sent?

A Schedule K-1 is the required form for reporting a partner's share of the partnership tax items. If you owned common units at any time during the tax year, you will receive a Schedule K-1. If you believe you received a Schedule K-1 in error, please contact our Tax Package Support Center at 1-800-371-2188.

K-1 Tax Reporting Website

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Special Meeting of ONEOK Partners Unitholders Related to the ONEOK and ONEOK Partners Merger Transaction
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