Fillable Form 8288

What is Form 8288?

Form 8288, US Withholding Tax Return for Dispositions by Foreign Persons of US Real Property Interests, is an IRS form used when there is tax withheld on the acquisition of US Real Property interest from a foreign person.

According to the IRS, a “foreign person” is a non-resident alien individual, a foreign corporation that does not have a valid election under the Internal Revenue Code to be considered or treated as a domestic corporation, a foreign partnership, foreign trust, or foreign estate.

The Internal Revenue Code also indicates what is not included as US Real Property Interests. These are the following:

• Interests in a quality investment entity that is domestically controlled
• REIT interests held by a qualified shareholder
• Interests in a corporation that:
  • Did not hold any US real property interest as of the date in the corporation is disposed of;
  • Disposed of all its U.S. real property interests in transactions in which the full amount of any gain was recognized; and
  • Neither the corporation nor any of its predecessors were a REIT or a RIC at any time during the shorter of the previous five years or when the transferor held the interest.

You may download a PDF copy of the 8288 form at the IRS website, but you may also electronically fill it out on PDFRun for your convenience.

How to fill out Form 8288?

Mark the box to determine if the IRS form 8288 you are filing is an amended return. Otherwise, leave it blank.

Part I - To Be Completed by the Buyer or Other Transferee Required To Withhold Under Section 1445(a)

Part I is required to be completed by the buyer or other transferee who is required to withhold under Section 1445(a), Withholding of tax on dispositions of United States real property interests.

Item 1

Name of buyer or other transferee responsible for withholding

Enter the name of the buyer or other transferee responsible for withholding.

Identifying Number

Enter the buyer’s or transferee’s identifying number.

Street address, apt. or suite no., or rural route. Do not use a PO Box.

Enter your street address, apartment or suite number, or rural route. Do not use your PO box.

City or town, province or state, country, and ZIP or foreign postal code

Enter your city or town, province or state, country, and ZIP or foreign postal code.

Phone number (optional)

Enter your phone number. You may also opt not to enter your phone number as this field is optional.

Item 2

Enter the description and location of the property acquired.

Item 3

Enter the date of transfer of the property.

Item 4

Enter the number of Forms 8288-A, Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests, attached in this form.

Item 5

Enter and complete all items that apply. Enter the amounts in dollar currency on the applicable lines on the following:

• A - Amount subject to withholding at 15%
• B - Amount subject to withholding at 10%
• C - Withholding is at a reduced rate

Mark Option C to determine if your withholding is at a reduced rate. Otherwise, leave it blank.

Item 6

Enter the total amount withheld.

Part II - To Be Completed by an Entity Subject to the Provisions of Section 1445(e)

Part II is required to be completed by an entity subject to the provisions of Section 1445(e), Special rules relating to distributions, etc., by corporations, partnerships, trusts, or estates.

Item 1

Name of entity or fiduciary responsible for withholding

Enter the name of the entity or fiduciary responsible for withholding.

Identifying number

Enter the entity’s or fiduciary’s identifying number.

Street address, apt. or suite no., or rural route. Do not use a PO Box.

Enter the entity’s or fiduciary’s street address, apartment or suite number, or rural route. Do not use their PO box.

City or town, province or state, country, and ZIP or foreign postal code

Enter the entity’s or fiduciary’s city or town, province or state, country, and ZIP or foreign postal code.

Phone number (optional)

Enter the entity’s or fiduciary’s phone number. You may also opt not to enter their phone number as this field is optional.

Item 2

Enter the description of the US real property interest transferred or distributed.

Item 3

Enter the date of transfer.

Item 4

Enter the number of Forms 8288-A attached in this form.

Item 5

Enter and complete all items that apply. Enter the amounts in dollar currency on the applicable lines on the following:

• A - Amount subject to withholding at 15%
• B - Amount subject to withholding at 10%
• C - Among subject to withholding at 21%
• D - Withholding is at a reduced rate
• Large trust election to withhold at distribution

Mark Option D to determine if your withholding is at a reduced rate, and mark Option E to determine if there is a large trust election to withhold at distribution. Otherwise, leave them blank.

Item 6

Enter the total amount withheld.

Sign Here

This section certifies that you are declaring that you examined this return along with the accompanying schedules and statements, and everything you entered is true, correct, and complete. Otherwise, you will be penalized for perjury.

Signature of withholding agent, partner, fiduciary, or corporate officer

Affix your signature or signature of the withholding agent, partner, fiduciary, or corporate officer.

Title

Enter your title, if applicable.

Date

Enter the date you signed this form.

How to file Form 8288?

A transferee must file the 8288 tax form and transmit the withheld to the IRS within 20 days after the transfer date.

However, you have to attach a completed 8288-A along with the 8288 IRS form for each person subject to the withholding. Form 8288-A has copies A, B, and C, where the first two copies must be attached to Form 8288 IRS, and Copy C is your copy. Copy B of 8288-A will be stamped by the IRS and forwarded to the foreign person indicated in Form 8288-A subject to the withholding.

If you are paying in installments, you have to withhold the full amount at the first installment payment. However, you may obtain a withholding certificate if you cannot pay in full because the payment does not involve cash or other liquid assets.

Send the IRS 8288 form, along with the amount of tax withheld and copies of A and B of Forms 8288-A, to this address:

Ogden Service Center

PO Box 409101

Ogden, Utah 84409