Form 8288-B (Rev. August 1998) - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Page 2
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Form 8288-B (Rev. 8-98)
Page
General Instructions
Any withholding certificate issued by the
5. Continue to withhold under a reduced
IRS applies only for the limited purpose of
withholding certificate until an amended
Section references are to the Internal
determining the withholding obligation
certificate is issued, even if the transferor
Revenue Code unless otherwise noted.
under section 1445 and does not apply to
pledges the installment obligation in
any substantive issue that may arise in
exchange for all or part of the proceeds
Purpose of form. Use Form 8288-B to
connection with the transfer. The
due on the obligation and includes in gross
apply for a withholding certificate to
acceptance by the IRS of any evidence
income under section 453A(d) the net
reduce or eliminate withholding on
submitted in connection with this
proceeds of the secured indebtedness.
dispositions of U.S. real property interests
application is not binding on the IRS for
by foreign persons, but only if the
Where to send applications for a
any purpose other than issuing the
application is based on:
withholding certificate. Form 8288-B and
withholding certificate. The information
other applications for a withholding
1. A claim that the transferor is entitled
submitted in support of the application
certificate must be sent to the Internal
to nonrecognition treatment or is exempt
may be subject to verification by the IRS
Revenue Service Center, d.p. 543 East
from tax,
prior to issuance of a withholding
building/FIRPTA-X, P.O. Box 21086,
2. A calculation solely of the transferor’s
certificate.
Philadelphia, PA 19114-0586.
maximum tax liability, or
If you receive a withholding certificate
Required attachments to Form 8288-B.
3. The special installment sales rules
from the IRS and withholding is still
See the Specific Instructions below to
described in Rev. Proc. 88-23, 1988-1 C.B.
required, a copy of the withholding
find out what information must be attached
787.
certificate must be attached to Form 8288,
to this form. Failure to include all the
U.S. Withholding Tax Return for
Do not use this form for applications:
required information and documents with
Dispositions by Foreign Persons of U.S.
the application will cause it to be
Based on an agreement for the
Real Property Interests.
considered incomplete and may delay the
payment of tax with conforming security,
Installment sales. A transferee is required
issuance of the withholding certificate.
For blanket withholding certificates
to withhold on the full sales price
under Rev. Proc. 88-23, or
regardless of the amount of the payment.
Specific Instructions
Other than the three types described
However, if the transferor is not a dealer
above.
and will report gain using the installment
Read the following instructions carefully. In
method under section 453, a withholding
See Regulations sections 1.1445-3 and
certain cases, attachments to this form are
certificate allowing reduced withholding
1.1445-6 and Rev. Proc. 88-23 for
required.
may be obtained. Any withholding
information and procedures for applying for
Line 1. Enter the name, street address,
certificate based on the installment sale
a withholding certificate.
and identification number of the transferor.
method will provide for payment of interest
Who can apply for a withholding
If there are multiple transferors, attach
on the deferred tax liability under section
certificate. Either the transferee or the
additional sheets giving the required
453A(c) when applicable.
transferor (or other authorized person) can
information about each one. For a
For installment sales subject to
file this application.
transaction under section 1445(e), enter
withholding under section 1445(a) or (e),
the required information for each foreign
Withholding certificate. The IRS can issue
the IRS will consider applications for a
person who will bear substantive income
a withholding certificate to reduce or
withholding certificate based on the
tax liability because of the transaction for
eliminate withholding under section 1445.
transferee’s (or entity’s or fiduciary’s)
whom adjusted withholding is sought.
A certificate issued before the transfer
agreement to all of the following:
notifies the transferee that reduced
Line 2. Enter the name, street address,
1. Withhold and pay over 10% or lower
withholding or no withholding is required. A
and identification number of the transferee.
amount determined by the IRS (or the
certificate issued after the transfer may
If there are multiple transferees, attach
amount the IRS determines to be
authorize an early or a normal refund. If, on
additional sheets giving the required
appropriate under section 1445(e)) of the
the date of transfer, an application for a
information about each one.
down payment. The amount paid over
withholding certificate is or has been
Line 4a. The withholding agent will
must include any liabilities of the transferor
submitted to the IRS, the applicable
normally be the buyer or other transferee
(entity in the case of section 1445(e))
withholding is not required to be paid over
as described in section 1445(c)(4). For
assumed by the transferee, or liabilities to
to the IRS until the 20th day after the day
distributions under section 1445(e), the
which the U.S. real property interest was
that the IRS mails the withholding
withholding agent also includes a trustee,
subject immediately before and after the
certificate or notice of denial.
executor, or other authorized person.
transfer.
The IRS will normally act on an
Line 4b. If you are not applying for this
2. Withhold 10% or lower amount
application within 90 days of receipt of all
withholding certificate in your personal
determined by the IRS (or the amount the
information necessary to make a proper
capacity, enter your SSN or ITIN (see
IRS determines to be appropriate under
determination. The IRS will determine
Identification number under General
section 1445(e)) on each subsequent
whether withholding should be reduced or
Instructions for more information).
payment and, for withholding under section
eliminated or whether a withholding
1445(a), the interest on the deferred tax
Line 4c. If you are acting on behalf of an
certificate should not be issued.
liability.
estate or trust, or are signing as an
Identification number. The transferee,
authorized person for an entity other than
3. Use Forms 8288 and 8288-A (relating
transferor, and agent (if applicable) must
an individual (e.g., a corporation or
to withholding on dispositions by foreign
provide a Federal identification number (a
partnership), enter the name of the estate,
persons of U.S. real property interests) to
TIN) on any application for a withholding
trust, or entity.
pay over all amounts withheld. The
certificate accompanied by a request for
identification number of the transferor (or
Line 4d. Enter the EIN of the estate, trust,
early refund filed with the IRS. For U.S.
interest holder subject to withholding under
or entity.
individuals, the TIN is a social security
section 1445(e)) must be included on
number (SSN). For all other entities, it is an
Line 5. Enter the address you want the
Forms 8288 and 8288-A.
employer identification number (EIN). If you
IRS to use for purposes of returning the
are a nonresident alien individual who is
4. Notify the IRS before the disposition
withholding certificate.
required to have a TIN, but is not eligible
or encumbrance of the U.S. real property
Line 6c. “Associated personal property”
to obtain an SSN, you must apply for an
interest (of the installment obligation under
means property (e.g., furniture) sold with a
IRS individual taxpayer number (ITIN). Get
section 1445(e)), and when it occurs, pay
building. See Regulations section 1.897-1.
over the remaining amount to be withheld.
Form W-7, Application for IRS Individual
Taxpayer Identificatin Number, for more
information.
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