Washington Seller's Affidavit of Nonforeign Status

• Category: Federal - IRS
• State: Multi-State
• Control #: US-0604BG
• Format: Word; Rich Text

Description

Section 1445 of the Internal Revenue Code provides that a transferee of U.S. real property interest must withhold tax if the transferor is a foreign person. To inform the transferee that withholding of tax is not required is upon the disposition of a U.S. real property, this affidavit may be executed. Washington Seller's Affidavit of Nonforeign Status is an essential legal document that verifies the US tax status of a seller in Washington State for the purpose of the real estate transaction. This affidavit is primarily used to comply with the Foreign Investment in Real Property Tax Act (FIR PTA) requirements, which aim to ensure that non-US residents pay appropriate taxes on the gains they earn from selling real property in the United States. The Washington Seller's Affidavit of Nonforeign Status is usually required when a non-US resident or foreign national sells property in Washington State. By completing this affidavit, the seller confirms their US tax status, claiming to be a US citizen, lawful permanent resident, or a qualified individual under FIR PTA rules. The affidavit must be signed under penalty of perjury, making it a legally binding document. While the general Washington Seller's Affidavit of Nonforeign Status covers most cases, specific situations may require different types of affidavits to be filed. These variations are typically related to unique circumstances or exemptions, such as: 1. Washington Seller's Affidavit of Nonforeign Status for US Citizens: This affidavit is specifically for US citizens who are selling property in Washington State. It certifies their US citizenship and confirms their eligibility for exemptions or reduced withholding tax rates under FIR PTA. 2. Washington Seller's Affidavit of Nonforeign Status for Lawful Permanent Residents: Designed for lawful permanent residents of the United States who are selling property, this affidavit establishes the seller's green card status and eligibility for certain tax benefits. 3. Washington Seller's Affidavit of Nonforeign Status for Qualified Individuals: This affidavit is utilized by individuals who may not be US citizens or lawful permanent residents but qualify for certain exemptions under FIR PTA due to specific circumstances. These exemptions can include cases such as sellers who obtained a US taxpayer identification number (ITIN) or are non-resident aliens who have held the property as their primary residence. It's important to note that the specific names and types of Washington Seller's Affidavit of Nonforeign Status forms may vary slightly depending on the county or jurisdiction within Washington State. Therefore, it is crucial for sellers to consult with a qualified real estate attorney or tax professional to ensure the correct form is used and all FIR PTA requirements are met when selling property as a non-US resident in Washington State.

Washington Seller's Affidavit of Nonforeign Status is an essential legal document that verifies the US tax status of a seller in Washington State for the purpose of the real estate transaction. This affidavit is primarily used to comply with the Foreign Investment in Real Property Tax Act (FIR PTA) requirements, which aim to ensure that non-US residents pay appropriate taxes on the gains they earn from selling real property in the United States. The Washington Seller's Affidavit of Nonforeign Status is usually required when a non-US resident or foreign national sells property in Washington State. By completing this affidavit, the seller confirms their US tax status, claiming to be a US citizen, lawful permanent resident, or a qualified individual under FIR PTA rules. The affidavit must be signed under penalty of perjury, making it a legally binding document. While the general Washington Seller's Affidavit of Nonforeign Status covers most cases, specific situations may require different types of affidavits to be filed. These variations are typically related to unique circumstances or exemptions, such as: 1. Washington Seller's Affidavit of Nonforeign Status for US Citizens: This affidavit is specifically for US citizens who are selling property in Washington State. It certifies their US citizenship and confirms their eligibility for exemptions or reduced withholding tax rates under FIR PTA. 2. Washington Seller's Affidavit of Nonforeign Status for Lawful Permanent Residents: Designed for lawful permanent residents of the United States who are selling property, this affidavit establishes the seller's green card status and eligibility for certain tax benefits. 3. Washington Seller's Affidavit of Nonforeign Status for Qualified Individuals: This affidavit is utilized by individuals who may not be US citizens or lawful permanent residents but qualify for certain exemptions under FIR PTA due to specific circumstances. These exemptions can include cases such as sellers who obtained a US taxpayer identification number (ITIN) or are non-resident aliens who have held the property as their primary residence. It's important to note that the specific names and types of Washington Seller's Affidavit of Nonforeign Status forms may vary slightly depending on the county or jurisdiction within Washington State. Therefore, it is crucial for sellers to consult with a qualified real estate attorney or tax professional to ensure the correct form is used and all FIR PTA requirements are met when selling property as a non-US resident in Washington State.