FIRPTA Affidavit- Individual Transfer

• Category: Affidavits
• State: Multi-State
• Control #: US-S018ST
• Format: Word; Rich Text

Description

This Affidavit is FIRPTA form for an indiviual, FIRPTA is a tax law that imposes U.S. income tax on foreign persons selling U.S. real estate. Under FIRPTA, if you buy U.S. real estate from a foreign person, you may be required to withhold 10% of the amount realized from the sale. The amount realized is normally the purchase price.

A FIR PTA Affidavit- Individual Transfer is a form that must be completed and submitted to the Internal Revenue Service (IRS) when an individual transfers real estate in the United States. The FIR PTA, or Foreign Investment in Real Property Tax Act, requires that the buyer of real estate owned by a non-resident alien must withhold 10% of the sale price and pay it to the IRS. The FIR PTA Affidavit- Individual Transfer is used to verify the transfer of real estate and the buyer’s withholding compliance. There are two types of FIR PTA Affidavit- Individual Transfer: Form 8288-A for transfers by individuals, and Form 8288-B for transfers by entities. The individual must provide their name, address, and Social Security Number, as well as the name and address of the transferor and the date of the transfer. Additionally, the individual must also provide information about the property being transferred and any applicable taxes paid or withheld. The individual must sign the affidavit in order for it to be valid.