PORTFOLIO

U.S. Taxation of Foreign Investment in U.S. Real Estate (Portfolio 912)

Tax Management Portfolio, U.S. Taxation of Foreign Investment in U.S. Real Estate, discusses the federal tax rules bearing upon foreign investment in U.S. real estate.

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DESCRIPTION

The Detailed Analysis contains a discussion of the various federal tax rules one will encounter when addressing this topic. The principal subject areas of this Portfolio include: (1) the U.S. income tax regime applicable to foreign persons during the ownership phase of U.S. real estate (including summaries of certain key domestic tax rules affecting real estate); (2) the taxation of U.S. real property interest dispositions under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA); (3) the FIRPTA withholding tax provisions; and (4) the basic estate and gift tax rules applicable to foreign persons.
The Worksheets contain numerous sample documents which practitioners will find invaluable when assisting clients with tax issues in this area. The Worksheets are divided into the following categories: (1) materials relating to establishing that a corporation's stock is not a U.S. real property interest; (2) materials relating to certification of non–foreign status; (3) materials relating to corporate distributions, nonrecognition exchanges, and reorganizations; (4) materials relating to the exceptions to withholding for nonrecognition transfers and transfers by foreign governments; (5) materials relating to the §897(i) election; (6) materials relating to withholding certificates; (7) security instruments and powers of attorney; (8) tax payment agreements; (9) required notifications; and (10) sample elections.


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AUTHORS

U.S. Taxation of Foreign Investment in U.S. Real Estate was authored by the following experts.
MICHAEL CABALLERO
Michael Caballero is a tax partner in the Washington, D.C. office of Covington & Burling LLP. He previously served as an Attorney-Advisor, Deputy International Tax Counsel, and most recently, International Tax Counsel in the U.S. Treasury Department's Office of Tax Policy. Mr. Caballero was also an international tax partner in the Washington, D.C. office of Paul Hastings. Mr. Caballero received a J.D., cum laude, from Georgetown University Law Center, an LL.M. in taxation from New York University School of Law, and a B.S. in Mathematics, magna cum laude, from the University of Notre Dame. He is admitted to practice in New York and the District of Columbia.

SUZANNE FEESE
Suzanne Feese was a tax partner at King & Spaulding LLP from 1995–2009 and a tax associate at King Spaulding from 1988–1994. She chaired King & Spalding's tax group from 2002–2007. Prior to joining King & Spalding, she was a law clerk to the Hon. R. Lanier Anderson III on the U.S. Court of Appeals for the Eleventh Circuit. Ms. Feese received a J.D. from Yale Law School and a B.A., summa cum laude, in Astrophysics and Economics from Agnes Scott College, where she was a First Honor graduate. She is a member of Phi Beta Kappa. She is admitted to practice in Georgia.

MICHAEL PLOWGIAN
Michael Plowgian is a principal in the Washington, D.C. office of KPMG, LLP. Previously, he was an Attorney-Advisor in the Office of the International Tax Counsel at the U.S. Department of the Treasury. During his work on this Portfolio, he was an attorney in the tax group at King & Spalding LLP. He received his J.D., cum laude, from Harvard Law School, an M.A.L.D. from the Fletcher School of Law and Diplomacy, and a B.A., magna cum laude, from Denison University. He is admitted to practice in Georgia and the District of Columbia.

TABLE OF CONTENTS

Detailed Analysis

I. Introduction

II. Taxation During the Ownership Phase

A. General Concepts

1. Source of Income

a. Interest

b. Dividends

c. Rents

d. Disposition of Real Property Interests

2. FDAP or Similar Income

3. Income Effectively Connected with a U.S. Trade or Business

a. U.S. Trade or Business

b. Effectively Connected Income

4. U.S. Income Tax Treaties

5. Conduit Financing

B. Branch Profits Tax

1. Persons Subject to Tax

2. Dividend Equivalent Amount

a. ECEP Defined

b. U.S. Net Equity

3. Tax Rate

4. The Termination of a Branch

5. Impact of Income Tax Treaties

6. Branch Level Interest Withholding Tax

7. The Tax on "Excess Interest"

C. Taxation of Current Income from U.S. Real Estate

1. U.S. Real Estate Activities as a Trade or Business

2. Effectively Connected Taxable Income

a. Deductions

(1) Depreciation

(2) Interest

(a) Earnings Stripping

(b) Deferral of Deduction Until Paid

(c) Imputed Interest

(d) Mandatory Capitalization of Interest Expense

(3) Ad Valorem Real Property Taxes

(4) Discretionary Capitalization of Interest and Taxes

b. Passive Loss Limitations

c. Net Operating Losses

3. Tax Credits

4. Federal Tax Rates

5. Minimum Tax

6. The Net Election

a. General

b. Eligibility to Make the Election; Income to Which the Election Applies

c. Effect of the Election

d. The Net Election and Net Operating Losses

e. Making the Election

f. Revoking the Election

g. The Treaty Net Election

7. Return Requirements

a. Foreign Persons Not Engaged in a U.S. Trade or Business

b. Foreign Persons Engaged in a U.S. Trade or Business

c. Denial of Deductions for Failure to File

d. The IRS May File the Return

8. Information Reporting and Record Maintenance Requirements

III. U.S. Income Taxation of Foreign Persons' Disposition of U.S. Real Property Interests

A. Introduction

B. U.S. Real Property Gains Before FIRPTA

C. Basic U.S. Income Taxation Under FIRPTA

1. Character of Gain or Loss

2. Sales of U.S. Real Property and Stock in U.S. Real Property Holding Corporations

3. Sales of Interests in Partnerships, Trusts and Estates

4. Sale of Stock in a Foreign Corporation

5. Treatment of Losses

6. Nonrecognition Provisions Restricted

7. Section 897(i) Election

8. Tax Rate

9. No Foreign Tax Credit

10. Treaty Override

D. Disposition of a USRPI

1. What Is a United States Real Property Interest?

a. Direct Interest in U.S. Real Property

(1) The Term "Real Property" Defined

(a) Land and Unsevered Natural Products of the Land

(b) Improvements

(c) Personal Property Associated with the Use of Real Property

(i) Property Used in Mining, Farming, and Forestry

(ii) Property Used in the Improvement of Real Property

(iii) Property Used in the Operation of a Lodging Facility

(iv) Property Used in the Rental of Furnished Office and Other Work Space

(v) Termination of Associated Personal Property Status

(2) An Interest in Real Property

(a) Rights to Share in Appreciation

(b) Installment Sale/Deferred Payment Obligations

(c) Options

(d) Security Interests

(e) Indexed Interest Rates

(f) Commissions

(g) Trustees' and Administrative Fees

(h) Section 636 Production Payments

(i) Antiâ€"Abuse Rules

b. Interests in Partnerships, Trusts, and Estates

c. Interest in a USRPHC

(1) Options

(2) Installment Obligations

(3) Contingent Interests

(4) Security Interests

(5) Royalties

(6) Commissions

(7) Trustee's Fees

(8) Anti-Abuse Rule: "Aggregation of Interests"

d. USRPHC/USRPI Exclusions

(1) Exclusion if No USRPI Assets on Date of Disposition

(2) Exclusion for Certain Publicly Traded Stock

(a) Constructive Ownership Applies

(b) Non-Stock Equity Interests

(c) "Established Securities Market"

(d) "Regularly Traded"

(3) Exclusion for Certain Publicly Traded Partnership and Trust Interests

(4) Exclusion of "Domestically Controlled REITs"

2. United States Real Property Holding Corporation

a. Importance of USRPHC Concept

b. USRPHC: Basic Definitional Test

c. USRPHC: Alternative Book Value Test

(1) "Book Value"

(2) Denial of Presumption

(3) Applicability of Penalties

(4) Effect of Presumption's Denial on Equity Holders and Related Persons

d. USRPHC: Assets Used or Held for Use in a Trade or Business

(1) Used or Held for Use in a Trade or Business

(2) Timing of Asset Purchases by New Businesses

e. USRPHC: Fair Market Values

(1) Basic Definition

(2) Anti-Abuse Rule

(3) Special Rules for Leases and Options

(4) Special Rules for Intangible Assets

(a) Purchase Price

(b) Book Value

(c) Other Reasonable Methods

f. USRPHC: Determination Dates

(1) Importance

(2) Basic Approach of the Regulations

(3) Alternative Monthly Determination Dates

g. USRPHC: Indirect Asset Ownership

(1) Foreign RPHC

(2) USRPHC: Controlling Interests

(3) USRPHC: Non-Controlling Interests

(4) USRPHC: Partnership, Trust, and Estate Interests

h. USRPHC: Establishing That a Corporation Is Not a USRPHC - Importance

(1) Approach of the Regulations

(2) Notice Requirements Applicable to Corporations

i. USRPHC: Former USRPHC Corporations

3. Transactions Subject to Tax - Dispositions

a. Gifts of USRPIs

b. Capital Contributions

c. Distributions by Domestic Corporations

d. Distributions by Foreign Corporations

e. Partnership Dispositions of USRPIs

f. Trust or Estate Dispositions of USRPIs

(1) Entity-Level Taxation

(a) Grantor Trusts

(b) Non-Grantor Trusts

(2) Beneficiary-Level Taxation

(a) Current and Deemed Distributions

(b) Accumulation Distributions

g. Dispositions of Interests in Partnerships, Trusts, and Estates

h. Distributions of USRPIs by Partnerships, Trusts, and Estates

i. Qualified Investment Entities

(1) Distributions by REITs

(2) Sale of Stock in a Domestically Controlled QIE

(3) Distributions by Domestically Controlled QIEs

j. Nonrecognition of Gain or Loss upon Dispositions of USRPIs

E. Distributions of USRPIs by Domestic Corporations

1. General

2. Special Basis Rule

3. Nonâ€"Liquidating Distributions of USRPIs

a. Dividend Distributions of USRPIs

b. Distributions of USRPIs Treated as Taxable Exchanges of Stock

4. Liquidating Distributions of USRPIs

a. Section 331 Liquidations of USRPHCs

b. Section 332 Liquidations of USRPHCs

(1) Section 332 Liquidations of Domestic USRPHCs

(2) Section 332 Liquidations of Foreign Corporations with an "i" Election

F. Distributions of USRPIs by Foreign Corporations

1. Basic Gain Recognition Rule and the Statutory Exception

2. Section 332 Liquidations of Foreign Corporations

3. Limitation on Gain Recognized for Certain Section 355 Distributions

4. Distributions by a Foreign Corporation in Certain Reorganizations

5. Interests Subject to Taxation Upon Later Dispositions

6. Procedural Requirements

G. Nonrecognition Under FIRPTA - Tax-Free Transfers

1. Nonrecognition Exchanges

a. General Rule

(1) USRPI for USRPI Requirement

(2) Interests Subject to Tax Upon Subsequent Disposition

(3) Filing Requirements

b. "Nonrecognition Provision" Defined

c. Determination of Basis

d. Consequences of Nonapplication of Nonrecognition Provisions

2. Capital Contributions and Section 351 Exchanges

3. Sale of Principal Residence

a. Former Section 1034 Nonrecognition of Gain

b. Exclusion of Gain Under Section 121

4. Section 355 Distributions

5. Inbound "C," "D" and "F" Reorganizations

6. Examples of the Application of Section 897(e) to Certain Reorganizations

a. "B" Reorganizations

b. "C" Reorganizations

c. "E" and "F" Reorganizations

7. Exception for Certain Foreign-to-oreign Exchanges

a. The Qualifying Exchanges

b. The Five Alternative Conditions of Regs. § 1.897-6T(b)(2)

c. Application of the Exception

8. Treatment of Nonqualifying Property

9. Denial of Nonrecognition with Respect to Certain Tax Avoidance Transfers

a. No Contributions of Non-USRPIs with Built-In Losses

b. Related-Party Transfers

c. Rearrangement of Ownership to Gain Treaty Benefits

H. Nondiscrimination: Section 897(i) Election

1. Treaty Nondiscrimination Clauses

a. Basic Principle

b. Potential Impact

2. The Section 897(i) Election

a. Legislative Purpose

b. Section 897(i): Threshold Requisites

c. Section 897(i): Requirement for Holding a USRPI

d. Section 897 (i): Entitlement to Nondiscriminatory Treatment

e. Foreign Corporation Must Qualify as a USRPHC

f. Section 897(i): Submission of Election in Proper Form

(1) General Statement

(2) Waiver of Treaty Benefits

(3) Consent to Be Taxed

(4) Shareholders' Consent to Election

(5) Statement Regarding Prior Dispositions

g. Section 897(i): Time and Duration of Election

h. Section 897(i): Prior Dispositions

(1) Payment of Tax Which Would Have Been Imposed

(2) Carryover Basis

i. Section 897(i): FOD Acknowledgment of Receipt

j. Section 897(i): Anti-Abuse Rule

k. Section 897(i): Revocation of Election

l. Section 897(i): Exclusive Method of Claiming Non-Discrimination

m. Friendship, Commerce, and Navigation Treaties - Treaty Shopping Elections

3. Ancillary Effects of Section 897(i) Election

4. Advantages and Disadvantages of a Section 897(i) Election

IV. The FIRPTA Withholding

A. Introduction

B. The Obligation to Withhold

1. Dispositions by Foreign Persons

2. Ten Percent Withholding Tax

a. The Amount Realized

b. The Obligation to Withhold

c. Withholding Tax Not Final Obligation

d. Sections 1441/1445 Coordination

3. Dispositions by Domestic Partnerships

a. Section 1446 Controlling

b. How Section 1446 Is Applied

c. Time and Manner of Payment

d. Treatment of Tax Payment

e. Exceptions to Withholding

f. Publicly Traded Partnerships

4. Dispositions by Domestic Trusts or Estates

a. Withholding by Grantor Trusts

b. Withholding by Nongrantor Trusts and Estates - "USRPI Account"

c. Alternate Withholding Rules for Large Trusts

d. Withholding by Publicly Traded Trusts

e. Exceptions to Withholding

5. Dispositions by Foreign Partnerships, Trusts, or Estates

a. Relief from Double Withholding

b. Publicly Traded Partnerships

c. Publicly Traded Trusts

d. Exceptions to Withholding

6. Dispositions of Interests in Entities

a. Partnership Interests

b. Trust or Estate Interests

c. REIT Interests

d. Exceptions to Withholding

7. Distributions by Domestic Corporations

a. General Rule

b. Section 301 Operating Distributions

c. Exceptions to Withholding

8. Distributions by Foreign Corporations

9. Distributions by Domestic or Foreign Partnerships, Trusts, or Estates

10. Distributions by Real Estate Investment Trusts

C. Principal Exceptions to Withholding

1. In General

2. USRPI Dispositions by Foreign Persons to Third Parties

a. No Amount Realized

b. Seller Not a Foreign Person

(1) Seller's Certification of Non-Foreign Status

(2) Contract Provisions

(3) Determining Seller's Status by Other Means

(4) USRPI Disposition by Foreign Partnership

c. Property Transferred Not a USRPI

(1) Interests in Corporations; Certifying Statements

(a) When Statement Cannot Be Relied On

(b) Publicly Traded Stock

(2) Partnership Interests; Certifying Statements

(a) When Statement Cannot Be Relied On

(b) Publicly Traded Partnerships

(3) Estate or Trust Interests

(4) Disposition by Foreign Partnership

d. Nonrecognition Provisions

(1) Deferred Like-Kind Exchanges

(2) Sale or Exchange of a Principal Residence

(3) Disposition of Partnership Interest

(4) USRPI Disposition by Foreign Partnership

(5) Foreign Governments

e. IRS Withholding Certificate Obtained

(1) Disposition of Partnership Interest

(2) Dispositions by Foreign Partnerships

f. Installment Sales

g. Use as a Residence

(1) "Use as a Residence" Test

(2) Property Not Actually Used as a Residence

(3) Dispositions by Foreign Partnerships

h. Acquisitions by Domestic Government Bodies

i. No Double Withholding

j. Foreign Government Seller

3. USRPI Dispositions by Domestic Partnerships, Trusts, and Estates

a. No Gain Realized

b. Interest Holder Not a Foreign Person

(1) Interest Holder's Certification of Non-Foreign Status

(2) Determining Interest Holder's Status by Other Means

(3) USRPI Disposition by Domestic Partnership

(4) Use of Agreement Provisions

c. Property Transferred Not a USRPI

(1) Interests in Corporations; Certifying Statement

(2) Partnership Interests

(3) Estate or Trust Interests

(4) Dispositions by Domestic Partnerships

d. Nonrecognition Provisions

(1) Notice to IRS

(2) USRPI Disposition by Domestic Partnership

e. IRS Withholding Certificate Obtained

(1) Disposition of Partnership Interests

(2) Dispositions by Domestic Partnerships

f. Publicly Traded Trusts

g. No Double Withholding

4. Distributions by Domestic Corporations

a. Shareholder Not a Foreign Person

(1) Shareholder's Certification of Non-Foreign Status

(2) Use of Agreement Provisions

(3) Determining Shareholder's Status by Other Means

b. Stock Not a USRPI

c. Nonrecognition Provisions

d. IRS Withholding Certificate Obtained

e. No Double Withholding

5. Distributions by Foreign Corporations

a. USRPI Not Appreciated

b. Property Distributed Not a USRPI

c. Nonrecognition Provisions

d. IRS Withholding Certificate Obtained

e. No Double Withholding

6. Distributions of USRPIs by Partnerships, Trusts, or Estates

D. Withholding Certificates

1. In General

a. Form of Application - Basic Format

b. Application Categories

2. Dispositions of USRPIs by Foreign Persons to Third Parties

a. Maximum Tax Liability Limitation

(1) Unsatisfied Withholding Liability

(2) Computing the "Maximum Amount of Tax"

(3) Taking NOLs Into Account

b. Foreign Government Seller-Transferor

c. Tax Treaty Exemption

d. Tax Payment Agreement

(1) Parties to the Agreement

(2) Tax Covered by Agreement

(3) Acceptable Security Instruments

(a) Bond with Surety or Guarantor

(b) Bond with Collateral

(c) Letter of Credit

(d) Guarantee

(4) Nonconforming Types of Security

(5) Blanket Withholding Certificate

e. Deferred Payment Sales

f. Certificates Issued on a Nonstandard Basis

3. Section 1445(e) Dispositions

a. Maximum Tax Liability Limitation

(1) In General

(2) Computing the "Maximum Amount of Tax"

b. Foreign Government Seller-Transferor

c. Tax Treaty Exemption

d. Tax Payment Agreement

(1) Tax Covered by Agreement

(2) Allocation of Payment

(3) Acceptable Security Instruments

(4) Blanket Withholding Certificate

e. Deferred Payment Sales

f. Certificates Issued on a Nonstandard Basis

4. Procedural Matters

a. Who May Apply

b. Signatures

c. Where to Send Application

d. IRS Response Time - Deferring Payment to IRS of Withheld Amounts

e. Amending an Application

5. Use of Certificate to Obtain Refund or Early Refund

6. Effect of Withholding Certificate Upon Audit

E. Mechanics of Withholding

1. Time Period

2. Returns Required

a. In General

b. When Seller Receives No Copy B

c. Joint Transferors

3. Partnerships Disposing of USRPIs

a. Annual Return

b. Return Accompanying Payments of Tax

c. Information Reporting to Foreign Partners

d. Publicly Traded Partnerships

4. Where to File

a. In General

b. Partnership Disposing of USRPIs

5. Pending Withholding Certificate Application

a. Application Submitted by Purchaser-Transferee

b. Application Submitted by Seller-Transferor

6. Effect of Withholding on Seller

a. Credit

b. Mechanism for Obtaining Credit

c. Early Refund

d. U.S. Person Subject to Withholding

F. Foreclosures and Options

1. Special Rules

2. Foreclosure Sales

a. General Rule

b. Alternate Rule

c. Notice Requirements

(1) To Court or Trustee

(2) Second Notice

(3) To IRS

3. Deed in Lieu of Foreclosure

a. General Rule

b. Alternate Rule

c. No Withholding Required

4. Antiâ€"Abuse Rule

5. Option Transactions

a. Grant

b. Lapse

c. Sale or Exchange

d. Exercise

G. Effect of Section 897(i) Election on Withholding Obligations

1. Introduction

2. Corporate Disposition of a USRPI

3. Disposition of Stock of an Electing Corporation

4. Corporate Distributions

V. Obligations of Agents, Penalties, and Foreign Investment Disclosure Requirements

A. Obligations of Agents in General

1. Notice of False Statement or Certification - an Agent's Obligations

a. Effect of False Statement or Certification on Transferee

b. Form of Agent's Notice

c. Time Period for Agent's Notice

d. Agent's Copy to IRS

2. "Agent" Defined

a. General Rule

b. Settlement Officers and Clerical Personnel

c. Condominium Associations and Cooperative Housing Corporations

B. Penalties for Failure to Comply with Withholding

1. Failure to Withhold

2. Tax Liability Otherwise Satisfied

3. Failure to Pay Over Withheld Amounts

4. Failure of Agent to Provide Notice of False Certification or Statement

C. Foreign Investment Information Reporting Requirements

VI. U.S. Gift and Estate Tax Considerations

A. U.S. Gift Tax

1. Overview

2. Nonresident Alien: Domicile Test

3. Situs Rules

a. Real Property

b. Tangible Personal Property

c. Cash Gifts

4. Rate of Tax

5. Substance Over Form

6. Effect of U.S. Treaties

7. FIRPTA Considerations

8. Application of Gift Tax Considerations to Various Real Estate Structures

a. Directly Held by Nonresident Alien

b. Domestic Corporation

c. Foreign Corporation

d. Revocable Grantor Trust

e. Irrevocable Non-Grantor Trust

f. Partnership

B. Generation-Skipping Transfer Tax

1. General Rules

2. Application to Nonresident Aliens

a. Property Must Be Situated in the United States

b. Allocation of Exemption

(1) In General

(2) Transitional Relief for Reliance on 1992 Proposed Rules

c. Tax Treaties

C. U.S. Estate Tax

1. Overview

2. Additional Intangible Property Situs Rules

a. Corporate Stock

b. Debt Obligations

(1) General Rule

(2) Exceptions to the General Rule

c. Partnership Interest

(1) The Code

(2) The Regulations

(3) Administrative Rulings

(4) Case Law

(5) Summary of Partnership Interest Situs Rule

d. Trusts and Certain Lifetime Transfers

e. Life Insurance Proceeds

f. Certain Works of Art

3. Nature of Interest

4. Effect of U.S. Treaties

5. FIRPTA Considerations

6. Application of U.S. Estate Tax to Various Real Estate Structures

a. Directly Held by Nonresident Alien

b. Domestic Corporation

c. Foreign Corporation

d. Revocable Grantor Trust

e. Irrevocable Non-Grantor Trust

f. Partnership

g. REIT

7. Summary of U.S. Estate Tax Considerations


WORKING PAPERS

Working Papers

Table of Worksheets

Other Resources

Worksheet 1 Request for Statement That Stock of Domestic Corporation Is Not a U.S. Real Property Interest.

Worksheet 2 Statement That Stock of Domestic Corporation Is Not a U.S. Real Property Interest.

Worksheet 3 Statement That Stock of Corporation Held by Another Corporation Is Not a U.S. Real Property Interest.

Worksheet 4 Notice to IRS Regarding Request of Foreign Shareholder of Domestic Corporation for U.S. Real Property Interest Status of Stock Interest.

Worksheet 5 Request for IRS Determination of Non-U.S. Real Property Interest Status for Stock (with determination based on IRS records)

Worksheet 6 Request for IRS Determination of Non-U.S. Real Property Interest Status for Stock (with determination based on taxpayer-provided information)

Worksheet 7 Attachment to Income Tax Return Regarding Nonâ€"U.S. Real Property Holding Corporation Status.

Worksheet 8 Notice to IRS by Domestic Corporation of Early Termination of U.S. Real Property Holding Corporation Status.

Worksheet 9 Statement to Be Attached to U.S. Income Tax Return of Domestic Corporation Whose Stock Is Traded on a Foreign Securities Market.

Worksheet 10 Transferor's Certification of Non-"Foreign Status - Individual Transferor.

Worksheet 11 Transferor's Certification of Non-Foreign Status - Entity Transferor.

Worksheet 12 Contract Provision Obligating Purchaser-Transferee to Respect Seller-Transferor's Certificate of Non-Foreign Status.

Worksheet 13 Contract Provision Obligating Seller-Transferor To Deliver to Purchaser-Transferee a Certificate of Non-Foreign Status.

Worksheet 14 Partner's Certification of Non-Foreign Status - Individual Partner.

Worksheet 15 Partner's Certification of Non-Foreign Status - Entity Partner.

Worksheet 16 Statement That Partnership Interest Is Not a U.S. Real Property Interest for Withholding Tax Purposes.

Worksheet 17 Interest Holder's Certificate of Non-Foreign Status - Individual Interest Holder.

Worksheet 18 Interest Holder's Certificate of Non-Foreign Status - Entity Interest Holder.

Worksheet 19 Partnership and Trust Provisions Requiring the Use of Non-Foreign Certificates.

Worksheet 20 Shareholders Agreement Provision Requiring Use of Non-Foreign Certificates.

Worksheet 21 Statement to Be Attached to U.S. Income Tax Return of Foreign Person Disposing of a U.S. Real Property Interest in Nonrecognition Transaction.

Worksheet 22 Statement to Be Attached to U.S. Income Tax Return of Foreign Parent Corporation Disposing of Stock in a Section 332 Liquidation of Domestic Subsidiary.

Worksheet 23 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing a U.S. Real Property Interest to Another Corporation Under Section 332.

Worksheet 24 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing a U.S. Real Property Interest to Another Corporation Under Section 332 (Statement of Parent Corporation Distributee).

Worksheet 25 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 355.

Worksheet 26 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of a Domestic Corporation That Is a U.S. Real Property Interest Under Section 355 (Statement of Distributee).

Worksheet 27 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 355 (Statement of Distributor).

Worksheet 28 Statement to Be Attached to U.S. Income Tax Return of Foreign Person Exchanging Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 355.

Worksheet 29 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 368.

Worksheet 30 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 368 (Statement of Distributee).

Worksheet 31 Statement to Be Attached to U.S. Income Tax Return of Foreign Corporation Distributing Stock of Domestic Corporation That Is a U.S. Real Property Interest Under Section 368 (Statement of Distributor).

Worksheet 32 Statement to Be Attached to U.S. Income Tax Return of Foreign Person Transferring a U.S. Real Property Interest to Foreign Corporation.

Worksheet 33 Statement to Be Attached to U.S. Income Tax Return of Foreign Person Transferring a U.S. Real Property Interest to Foreign Corporation (Statement of Transferee).

Worksheet 34 Waiver of Treaty Benefits by Transferee in Foreign to Foreign Transfer.

Worksheet 35 Statement to Be Attached to U.S. Income Tax Return of Foreign Individual Disposing of a U.S. Real Property Interest Under Section 1034.

Worksheet 36 Notice of Nonrecognition Transfer.

Worksheet 37 Cover Letter to IRS Accompanying Notice of Nonrecognition Transfer.

Worksheet 38 Affidavit Regarding Purchase of Replacement Principal Residence in a Section 1034 Rollover Transaction.

Worksheet 39 Notice of Nonrecognition Transfer of Foreign Government Transferor.

Worksheet 40 Notice of Nonrecognition Transfer.

Worksheet 41 I.R.C. Section 897(i) Election.

Worksheet 42 Request for Revocation of I.R.C. Section 897(i) Election.

Worksheet 43 Interest Holder's Consent to I.R.C. Section 897(i) Election and Waiver of Treaty Benefits.

Worksheet 44 Basic Format for Application for Withholding Certificate

Worksheet 45 Basic Format for Application for Withholding Certificate - Transactions Described in § 1445(e)

Worksheet 46 Withholding Certificate Application Insert for Category 1 Applications

Worksheet 47 Withholding Certificate Application Insert for Category 2 Applications

Worksheet 48 Withholding Certificate Application Insert for Category 3 Applications

Worksheet 49 Withholding Certificate Application Insert for Category 3 Applications Relating to § 1445(e)

Worksheet 50 Withholding Certificate Application Insert for Category 4 Applications

Worksheet 51 Withholding Certificate Application Insert for Category 5 Applications

Worksheet 52 Withholding Certificate Application Insert for Category 6 Applications Based on Nonconforming Security

Worksheet 53 Withholding Certificate Application Insert for Category 6 Applications Based on Nonstandard Application

Worksheet 54 Amendment to Withholding Certificate Application.

Worksheet 55 Notice From Seller-Transferor to Purchaser-Transferee of Submission of Application for Withholding Certificate.

Worksheet 56 Contract Provision Regarding Withholding Certificate Application.

Worksheet 57 Early Refund Application.

Worksheet 58 Application for Early Refund of Overwithheld Amounts.

Worksheet 59 Bond With Surety/Guarantor

Worksheet 60 Bond With Collateral

Worksheet 61 Letter of Credit

Worksheet 62 Guarantee

Worksheet 63 Power of Attorney (Individual Guarantor)

Worksheet 64 Power of Attorney (Corporate Guarantor)

Worksheet 65 Agreement for Payment of Tax

Worksheet 66 Tax Payment and Security Agreement

Worksheet 67 Notification to Partners of Withholding Taxes Withheld Under Section 1446.

Worksheet 68 Notice to a Court or Trustee in a Foreclosure Action Pursuant to Special Withholding Rules.

Worksheet 69 Notice to a Court or Trustee in a Foreclosure Action Pursuant to Special Withholding Rules.

Worksheet 70 Notice to IRS Regarding Alternative Amount Withheld in a Foreclosure or Deed in Lieu of Foreclosure Transfer.

Worksheet 71 Notice by Agent of False Certification or Statement.

Worksheet 72 Sample Election Under Regs. § 1.871-10(d)(1)(ii) to Treat Real Property Income as Effectively Connected with U.S. Business

Worksheet 73 [Reserved.]

Worksheet 74 [Reserved.]

Worksheet 75 [Reserved.]

Worksheet 76 IRS Form 2848 and Instructions

Worksheet 77 IRS Form 8288 and Instructions

Worksheet 78 IRS Form 8288-A and Instructions

Worksheet 79 IRS Form 8288-B and Instructions

Bibliography

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Statutes:

Treasury Regulations:

Treasury Rulings:

Cases:

UNOFFICIAL

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