Asset Agreement Form Withholding
Description
How to fill out Corporate Asset Purchase Agreement?
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FAQ
Buyers (transferees), who are generally the withholding agents, must use Forms 8288 and 8288-A to report and pay to the IRS any tax withheld on the acquisition of U.S. real property interests from foreign persons.
Specific InstructionsLine 1. Enter the name, address, and TIN of the other party to the transaction (purchaser or seller).Line 2. Enter the date on which the sale of the assets occurred.Line 3. Enter the total consideration transferred for the assets.Line 4.Line 6.
Form 8288-AThe IRS has to stamp your copy B and will then get it sent to the person who is withholding your file. That person is the one who will be filing a US income tax return and will then have to attach it to the stamped form 8288-A so that they receive any credit for the withheld tax.
FIRPTA withholding is required to be submitted to the IRS within 20 days of the closing together with IRS Form 8288, U.S. Withholding Tax Return for Disposition by Foreign Persons of U.S. Real Property Interests, and Form 8288-A, Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property
About Form 8288-A, Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests.