Two forms are generally used for reporting and paying the tax to the IRS regarding the acquisition of U.S. real property interests.

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• Form 8288, U.S. Withholding Tax Return for Dispositions by Foreign Persons of U.S. Real Property Interests (Section 1445)

• Form 8288-A, Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests (Section 1445)

 

Transferees must use Forms 8288 and 8288-A to report and pay to the IRS any tax withheld on the acquisition of U.S. real property interests. These forms must also be used by corporations, partnerships, estates, and trusts that must withhold tax on distributions and other transactions involving U.S. real property interests. You must include the U.S. TIN of both the transferor and transferee on the forms (refer to Requirement for Taxpayer Identification Numbers [TINs] below). If you do not have a TIN you will need to apply and receive one before you file.