Form 8288-B - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Page 3

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Form 8288-B (Rev. 2-2016)

Page

Line 4c. If you are acting on behalf of an

2. Evidence of the adjusted basis of the

6. Evidence that the person from whom the

estate or trust, or are signing as an

property, such as closing statements, invoices

transferor acquired the subject or prior U.S. real

authorized person for an entity other than

for improvements, and depreciation

property interest fully paid any tax imposed on

an individual (for example, a corporation,

schedules, or if no depreciation schedules are

that transaction under section 897;

qualified investment entity, or partnership),

submitted, a statement of the nature of the

7. A copy of a notice of nonrecognition

enter the name of the estate, trust, or entity.

use of the property and why depreciation was

treatment provided to the transferor under

not allowed;

Line 4d. Enter the EIN of the estate, trust,

Regulations section 1.1445-2(d)(2) by the

or entity.

3. Amounts to be recaptured for

person from whom the transferor acquired

depreciation, investment credit, or other

the subject or prior U.S. real property

Line 5. Enter the address you want the IRS

items subject to recapture;

interest; or

to use for purposes of returning the

withholding certificate.

4. The maximum capital gain and/or ordinary

8. A statement, signed by the transferor

income tax rates applicable to the transfer;

under penalties of perjury, explaining why

Line 6a. Enter the year as a four-digit

the transferor was not required to withhold

number (for example, “2013”).

5. The tentative tax owed; and

under section 1445(a) with regard to the

Line 6c. “Associated personal property”

6. Evidence showing the amount of any

transferor’s acquisition of the subject or

means property (for example, furniture) sold

increase or reduction of tax to which the

prior real property interest.

with a building. See Regulations section

transferor is subject, including any

Line 9a. If the transaction is subject to

1.897-1.

reduction to which the transferor is entitled

withholding under section 1445(e), check

under a U.S. income tax treaty.

Line 6d. Check “Other” if the property was

the box to indicate which provision of

used for both personal and rental use and

If you have a net operating loss, see Rev.

section 1445(e) applies.

attach an explanation.

Proc. 2000-35, section 4.06, for special

Line 9b. Indicate whether the applicant is

rules about the maximum tax calculation.

Line 6f. Enter the address and description

the taxpayer or the person required to

of the property (for example, “10-story,

If the purchase price includes personal

withhold, and in what capacity that person

100-unit luxury apartment building”). For a

property not subject to tax under section

is required to withhold.

real estate holding corporation interest

897, for the calculation of maximum tax, the

Signature. The application must be signed by

transferred, enter the class or type and

transferor must also include a statement

an individual, a responsible corporate officer, a

amount of the interest (for example,

listing each such item of personal property

general partner of a partnership, or a trustee,

“10,000 shares Class A Preferred Stock

transferred and the fair market value

executor, or other fiduciary of a trust or estate.

XYZ Corporation”). You may attach

attributable to each item. The fair market

The application may also be signed by an

additional sheets. Be sure to include your

value claimed should be supported by an

authorized agent with a power of attorney.

name and TIN on each sheet you attach.

independent appraisal or other similar

Form 2848, Power of Attorney and Declaration

documentation.

Line 6g. A U.S. income tax return includes

of Representative, can be used for this

Forms 1040NR, and 1120-F.

Line 7c. If you checked 7c, see Installment

purpose.

sales, earlier.

Line 7a. If you checked 7a, attach:

Line 8. You must provide a calculation of

1. A brief description of the transfer,

Privacy Act and Paperwork Reduction Act

the transferor’s unsatisfied withholding

2. A summary of the law,

Notice. We ask for the information on this

liability or evidence that it does not exist.

3. Facts supporting the claim of

form to carry out the Internal Revenue laws

This liability is the amount of any tax the

exemption or nonrecognition,

of the United States. Section 1445 generally

transferor was required to, but did not,

imposes a withholding obligation on the

4. Evidence that the transferor has no

withhold and pay over under section 1445

buyer or other transferee (withholding agent)

unsatisfied withholding liability, and

when the U.S. real property interest now

when a U.S. real property interest is

being transferred was acquired, or upon a

5. The most recent assessed value for

acquired from a foreign person. Section

prior acquisition. The transferor’s

state or local property tax purposes of the

1445 also imposes a withholding obligation

unsatisfied withholding liability is included

interest to be transferred, or other estimate

on certain foreign and domestic

in the calculation of maximum tax liability

of its fair market value. You need not submit

corporations, qualified investment entities,

so that it can be satisfied by the

supporting evidence of the value of the

and the fiduciary of certain trusts and

withholding on the current transfer.

property.

estates. This form is used to apply for a

Evidence that there is no unsatisfied

A nonresident alien or foreign

withholding certificate to reduce or eliminate

withholding liability includes any of the

corporation must also attach a statement

withholding on dispositions of U.S. real

following:

of the adjusted basis of the property

property interests by foreign persons if

immediately before the distribution or

1. Evidence that the transferor acquired

certain conditions apply.

transfer.

the subject or prior real property interest

You are required to provide this

before 1985;

Line 7b. If you checked 7b, attach a

information. Section 6109 requires you to

calculation of the maximum tax that can be

2. A copy of Form 8288 filed and proof of

provide your identification number. We

imposed on the disposition. You must also

payment;

need this information to ensure that you are

include a statement signed by the transferor

3. A copy of a withholding certificate

complying with the Internal Revenue laws

under penalties of perjury that the

issued by the IRS plus a copy of Form

and to allow us to figure and collect the

calculation and all supporting evidence is

8288 and proof of payment of any amount

right amount of tax. Failure to provide this

true and correct to the best knowledge of

required by that certificate;

information in a timely manner, or providing

the transferor.

false information, may subject you to

4. A copy of the nonforeign certificate

The calculation of the maximum tax that

penalties. Routine uses of this information

furnished by the person from whom the

can be imposed must include:

include giving it to the Department of

U.S. real property interest was acquired

Justice for civil and criminal litigation, and

1. Evidence of the amount to be realized

(the certificate must be executed at the

to cities, states, the District of Columbia,

by the transferor, such as a copy of the

time of acquisition);

and to U.S. commonwealths and

signed contract of transfer;

5. Evidence that the transferor purchased

possessions for use in the administration of

the subject or prior real property interest for

their tax laws. We may also disclose this

$300,000 or less and a statement, signed

information to other countries under a tax

by the transferor under penalties of perjury,

treaty, to federal and state agencies to

that the transferor purchased the property

enforce federal nontax criminal laws, or to

for use as a residence within the meaning of

federal law enforcement and intelligence

Regulations section 1.1445-2(d)(1);

agencies to combat terrorism.

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