Form 8288 - U.s. Withholding Tax Return For Dispositions By Foreign Persons Of U.s. Real Property Interests Page 6

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6
Form 8288 (Rev. 11-2005)
Page
Form SS-4, Application for Employer
withholding obligation on the buyer or
unless the form displays a valid OMB
Identification Number, by fax or mail.
other transferee (withholding agent)
control number. Books or records
when a U.S. real property interest is
relating to a form or its instructions must
For a nonresident alien individual who
acquired from a foreign person. Section
be retained as long as their contents
is not eligible for a social security
1445 also imposes a withholding
may become material in the
number, this is an IRS individual
obligation on certain partnerships,
administration of any Internal Revenue
taxpayer identification number (ITIN). If
foreign and domestic corporations, and
law. Generally, tax returns and return
the individual does not already have an
the fiduciary of certain trusts and
information are confidential, as required
ITIN, he or she must apply for one by
estates. This form is used to report and
by section 6103.
attaching the completed Form 8288 to a
transmit the amount withheld.
The time needed to complete and file
completed Form W-7, Application for
You are required to provide this
these forms will vary depending on
IRS Individual Taxpayer Identification
information. Section 6109 requires you
individual circumstances. The estimated
Number, and forwarding the package to
to provide your taxpayer identification
average times are:
the IRS at the address given in the Form
number. We need this information to
W-7 instructions.
Form 8288
Form 8288-A
ensure that you are complying with the
Lines 2. Enter the location and a
5 hr., 15 min.
2 hr., 52 min.
Recordkeeping
Internal Revenue laws and to allow us to
description of the property, including any
figure and collect the right amount of
Learning about
substantial improvements (e.g., “12-unit
tax. Failure to provide this information in
the law or the
apartment building”). In the case of
form
5 hr., 8 min.
30 min.
a timely manner, or providing false
interests in a corporation that constitute
information, may subject you to
Preparing and
a U.S. real property interest, enter the
penalties. Routine uses of this
sending the form to
class or type and amount of the interest
the IRS
6 hr., 38 min.
34 min.
information include giving it to the
(e.g., “10,000 shares Class A Preferred
Department of Justice for civil and
Stock XYZ Corporation”).
If you have comments concerning the
criminal litigation, and to cities, states,
accuracy of these time estimates or
Lines 4. Copies A and B of each Form
and the District of Columbia for use in
suggestions for making these forms
8288-A should be counted as one form.
the administration of their tax laws. We
simpler, we would be happy to hear
Part II, line 3. If you are a domestic
may also disclose this information to
from you. You can write to the Internal
trust or estate or you make the large
other countries under a tax treaty, to
Revenue Service, Tax Products
trust election, enter the date of
Federal and state agencies to enforce
Coordinating Committee,
distribution.
Federal nontax criminal laws, or to
SE:W:CAR:MP:T:T:SP, 1111 Constitution
federal law enforcement and intelligence
Privacy Act and Paperwork Reduction
Ave. NW, IR-6406, Washington, D.C.
agencies and to combat terrorism.
Act Notice. We ask for the information
20224. Do not send the forms to this
on this form to carry out the Internal
You are not required to provide the
address. Instead, see Where To File on
Revenue laws of the United States.
information requested on a form that is
page 2.
Section 1445 generally imposes a
subject to the Paperwork Reduction Act
Printed on recycled paper

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