Fillable Form 8288-B

What is Form 8288-B?

Form 8288-B, Application for Withholding Certificate for Dispositions by Foreign Persons of U.S. Real Property Interests, is an Internal Revenue Service form used to apply for a withholding certificate to reduce or eliminate withholding on dispositions by foreign persons of U.S. real property interests.

The 8288 B form can only be used if the application is based on one of the following:

• A claim that the transferor is entitled to nonrecognition treatment or is exempt from tax
• A claim solely on a calculation that shows the transferor’s maximum tax liability is less than the tax otherwise required to be withheld
• A claim that the special installment sales rules described in section 7 of Rev. Proc. 2000-35 allowed reduced withholding.

The form should not be used for applications:

• Based on an agreement for the payment of tax with conforming security
• For blanket withholding certificates under Rev. Proc. 2000-35
• Other than the three types described above.

Who needs to use Form 8288-B?

Form 8288-B IRS may be filed by either the transferee or the transferor (or other authorized person), so long as the application fulfills the above requirements.

How to fill out Form 8288-B?

The 8288-B form is a very simple form to fill out. Make sure to download it in PDF format to ensure that its format and all information entered remain intact regardless of how it is opened or submitted. It may also be beneficial to have the relevant documents prepared to make sure that all information entered is updated and correct.

If more information on the form is needed, you may consult the instructions for Form 8288 B on pages 2 to 4 of this form.

Line 1 - Transferor Details

Name

Enter the full legal name of the transferor.

Identification Number

Enter the identification number assigned to the transferor.

Street Address, Apt. or Suite No., or Rural Route.

Enter the transferor’s street address, apartment or suite number, or rural route. Do not use a PO box address here.

City, State or Province, Country (If Not US), and ZIP Code or Postal Code Where Appropriate

Enter the transferor’s city, state or province, and country if it is not the US. Include their ZIP code or postal code where appropriate.

Line 2 - Transferee Details

Name

Enter the full legal name of the transferee.

Identification Number

Enter the identification number assigned to the transferee.

Street Address, Apt. or Suite No., or Rural Route.

Enter the transferee’s street address, apartment or suite number, or rural route. Do not use a PO box address here.

City, State or Province, Country (If Not US), and ZIP Code or Postal Code Where Appropriate

Enter the transferee’s city, state or province, and country if it is not the US. Include their ZIP code or postal code where appropriate.

Line 3 - Applicant

Check the box that applies to whomever is filing the form. You may choose between:

• Transferor
• Transferee

Line 4a - Name of Withholding Agent

Enter the name of the withholding agent.

Line 4b - Identification Number

Enter the identification number assigned to the withholding agent.

Line 4c - Name of Estate, Trust, or Entity

Enter the name of the estate, trust, or entity.

Line 4d - Identification Number

Enter the identification number assigned to the estate, trust, or entity.

Line 5 - Contact Details

Address to Send the Withholding Certificate

Enter the address (street address, apt. or suite no., P.O. box, or rural route number) that the withholding certificate should be sent to.

City, State or Province, Country (If Not US), and ZIP Code or Postal Code Where Appropriate

Enter the city, state or province, and country if it is not the US of the above address. Include the ZIP code or postal code where appropriate.

Phone Number (Optional)

Enter your primary phone number.

Line 6 - Description of US Real Property Transaction

Line 6a - Date of Transfer

Enter the date of transfer of the property.

Line 6b - Contract Price

Enter the contract price.

Line 6c - Type of Interest Transferred

Check the appropriate box corresponding to the type of interest transferred. You may choose from:

• Real Property
• Associated Personal Property
• Domestic US Real Property Holding Corporation

Line 6d - Use of Property at Time of Sale

Check the appropriate box corresponding to what the property was being used for at the time that it was sold. You may choose from:

• Rental or Commercial
• Personal
• Other (attach an explanation to this form)

Line 6e - Adjusted Basis

Enter the amount of adjusted basis.

Line 6f - Location and General Description of Property

Enter the location of the property and a general description of property (for a real property interest), description (for associated personal property), or the class or type and amount of the interest (for an interest in a U.S. real property holding corporation).

Line 6g - For the 3 Preceding Tax Years

Line 6g(1) - US Income Tax Returns Filed

Check “Yes” if any U.S. income tax returns were filed relating to the U.S. real property interest, and enter when and where the tax returns were filed in the space provided. Otherwise, check “No”.

Line 6g(2) - US Income Taxes Paid

Check “Yes” if any U.S. income taxes were paid relating to the U.S. real property interest, and enter the amount of tax paid for each year. Otherwise, check “No”.

Line 7 - Reason a Withholding Certificate Should be Issued

Check the appropriate box that indicates the reason that a withholding certificate should be issued. You may choose between:

• The transferor is exempt from U.S. tax, or nonrecognition treatment applies.
• The transferor’s maximum tax liability is less than the tax required to be withheld.
• The special installment sales rules described in section 7 of Rev. Proc. 2000-35 allow reduced withholding.

Line 8 - Unsatisfied Withholding Liability

Check “Yes” if the transferor has any unsatisfied withholding liability under section 1445. Otherwise, check “No”.

Line 9 - Withholding Certificate Application

Check “Yes” if the application for a withholding certificate was made under section 1445(e), then check the applicable box in Line 9a and Line 9b. You may choose from the following:

• Line 9a - Type of Transaction
  • 1445(e)(1)
  • 1445(e)(2)
  • 1445(e)(3)
  • 1445(e)(5)
  • 1445(e)(6)
• Line 9b - Applicant
  • Taxpayer
  • Other person required to withhold.
  • Specify. (Enter your specific title in the space provided)

Otherwise, check “No”.

Signature

Enter your signature in the space provided.

Title

Enter your title, if applicable.

Date

Enter the date that the form was signed.

Tips when filling out Form 8288-B

While the IRS 8288-B form is very simple to fill out, it is important to make sure that all information entered is accurate and complete, so it may be beneficial to double-check the form after it has been accomplished.

Make sure all information entered is correct, and that the form is submitted to the appropriate place on time. This will help avoid any legal consequences for submitting the wrong information to the IRS and ensure that filing the form goes smoothly.

Practice good contract management. Make sure to keep a copy of the form in a safe and organized area, or even copy it again in order to be doubly sure that you have a backup in case the original is damaged in some way. This will be useful for possible legal purposes in the future, or even simply as a record.