Pima Arizona Seller's Affidavit of Nonforeign Status

• Category: Federal - IRS
• State: Multi-State
• County: Pima
• 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. The Lima Arizona Seller's Affidavit of Nonforeign Status is a legal document that provides information about the seller's tax status and confirms that they are not a foreign person under the Internal Revenue Code. This affidavit is commonly used in real estate transactions to ensure compliance with federal tax laws. The affidavit contains various important details and serves as a declaration by the seller that they are a U.S. citizen or resident alien. It verifies their nonforeign status, which exempts them from certain tax withholding obligations that could otherwise apply to foreign sellers. Key information included in the Lima Arizona Seller's Affidavit of Nonforeign Status may consist of: 1. Seller's personal information: This section requires the seller to provide their full name, mailing address, contact number, and email address. 2. Taxpayer Identification Number (TIN): The affidavit will ask for the seller's TIN, which can be their Social Security number (SSN) or an Employer Identification Number (EIN) if applicable. 3. Certification of Nonforeign Status: This portion of the affidavit includes a statement where the seller affirms their U.S. citizenship or resident alien status. They declare that they are not a foreign person subject to tax withholding. 4. Transaction details: The document may require information about the property being sold, such as the legal description, address, and purchase price. 5. Signature and notarization: In this section, the seller must sign the affidavit in the presence of a notary public. The notary public will then notarize the document to validate its authenticity. Different variations or types of the Lima Arizona Seller's Affidavit of Nonforeign Status may not necessarily exist, as it refers to a standard document generally used in Pima County, Arizona. However, it's important to note that the specific format or requirements may vary slightly depending on the jurisdiction or individual circumstances of the transaction. Therefore, it is crucial to consult with legal professionals or real estate experts to ensure compliance with local regulations and to obtain the most up-to-date forms for a particular transaction.

The Lima Arizona Seller's Affidavit of Nonforeign Status is a legal document that provides information about the seller's tax status and confirms that they are not a foreign person under the Internal Revenue Code. This affidavit is commonly used in real estate transactions to ensure compliance with federal tax laws. The affidavit contains various important details and serves as a declaration by the seller that they are a U.S. citizen or resident alien. It verifies their nonforeign status, which exempts them from certain tax withholding obligations that could otherwise apply to foreign sellers. Key information included in the Lima Arizona Seller's Affidavit of Nonforeign Status may consist of: 1. Seller's personal information: This section requires the seller to provide their full name, mailing address, contact number, and email address. 2. Taxpayer Identification Number (TIN): The affidavit will ask for the seller's TIN, which can be their Social Security number (SSN) or an Employer Identification Number (EIN) if applicable. 3. Certification of Nonforeign Status: This portion of the affidavit includes a statement where the seller affirms their U.S. citizenship or resident alien status. They declare that they are not a foreign person subject to tax withholding. 4. Transaction details: The document may require information about the property being sold, such as the legal description, address, and purchase price. 5. Signature and notarization: In this section, the seller must sign the affidavit in the presence of a notary public. The notary public will then notarize the document to validate its authenticity. Different variations or types of the Lima Arizona Seller's Affidavit of Nonforeign Status may not necessarily exist, as it refers to a standard document generally used in Pima County, Arizona. However, it's important to note that the specific format or requirements may vary slightly depending on the jurisdiction or individual circumstances of the transaction. Therefore, it is crucial to consult with legal professionals or real estate experts to ensure compliance with local regulations and to obtain the most up-to-date forms for a particular transaction.