CGBN Webinar

Understanding FIRPTA: Essential Tax Compliance for Foreign Property Sales

Unlock the Complexities of Foreign Investment in U.S. Real Estate

Foreign property ownership in the United States has expanded significantly. However, selling property for non-U.S. residents requires careful navigation of highly specific tax regulations. Failing to understand these rules can lead to serious compliance issues and financial headaches for both sellers and buyers.

Join us for this essential webinar where Nena Mills breaks down the Foreign Investment in Real Property Tax Act (FIRPTA)—its purpose, its impact on transactions, and why understanding its requirements is absolutely critical for commercial real estate professionals.

Key Learning Points

Gain clarity on the most vital aspects of FIRPTA compliance:

• What is FIRPTA? Defining the purpose and scope of the Act.
• Applicability: Who is subject to FIRPTA regulations?
• Transactional Triggers: When does the Act apply to a sale?
• FIRPTA & 1031 Exchanges: Navigating the intersection of these two complex areas.
• FIRPTA and LLCs: Understanding tax implications for foreign-owned entities.
• Buyer Responsibilities: Critical forms, requirements, and required affidavits.
• The FIRPTA Process: A step-by-step overview of the withholding procedure.
• ITIN Importance: The essential role of Individual Taxpayer Identification Numbers in the FIRPTA process.