Puerto Rico Seller's Affidavit of Nonforeign Status
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How to fill out Seller's Affidavit Of Nonforeign Status?
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FAQ
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) establishes that persons purchasing U.S. real property interests from foreign individuals must withhold 10% of the gross amount realized on the transaction.
Because of that, Americans that purchase real U.S. interest property from a resident alien will not have to withhold FIRPTA taxes. Remember, to be considered a foreign person under FIRPTA, a transferor cannot be American or be a resident of the United States.
With a Certification of Non-Foreign Status, the seller of real estate is certifying under penalty of perjury, that the seller is not foreign.
A FIRPTA affidavit, also known as Affidavit of Non-Foreign Status, is a form a seller purchasing a U.S. property uses to certify under oath that they aren't a foreign citizen. The form includes the seller's name, U.S. taxpayer identification number and home address.
Buyers in the transaction need to be aware that the IRS designates the Buyer as the Withholding Agent and therefore it is the Buyer's responsibility to do the withholding and send the amount to the IRS.
FIRPTA Certificate: A FIRPTA certificate is used to to notify the IRS that the seller of real estate is not a foreign-person. When a foreign person sells real estate, the IRS wants to know about it. Even though some capital gains income tax is exempt to foreign persons, real estate is not exempt.
Certification of nonforeign status. The transferor provides a certification of nonforeign status signed under penalties of perjury that states that the transferor is not a foreign person, and provides the transferor's name, TIN, and address.
Qualified Substitute is the Default. The seller will then manually complete Paragraph 3B and provide the form to the title or escrow company acting as the qualified substitute. The title or escrow company may use C.A.R. Form QS, or its own form, to satisfy its obligation to notify the buyer.
The seller (transferor) gives the transferee a certification stating, under penalties of perjury, that the transferor is not a foreign person. The certification should contain the transferor's name, U.S. taxpayer identification number, and home address (or office address, in the case of an entity).
