Navigating the FIRPTA waters for your seller

Not sure if FIRPTA truly applies for your seller? FIRPTA is the IRS Foreign Investment in Real Property Act  which was enacted in 1980 and applies to all foreign buyers and sellers of US real estate. The handy diagram below can provide some guideance to sellers on whether their scenario applies under FIRPTA. Title companies and attorneys are required to withhold 10% of the sales proceeds and remit to the IRS unless certain criteria have been met.

We recommend the follow CPA services for all foreign nationals buying and selling real estate: Monte Gordon, CPA  [email protected] or call 786-693-6308

For more information on how to successfully close a FIRPTA transaction, please contact [email protected] or call 305-271-0100 x701

For more information on the IRS rules for FIRPTA, visit the IRS website directly at  IRS foreign investment in real property act guidelines

Legal disclaimer: I am not an attorney or  a CPA and I am not providing legal advice. Please consult an Attorney or CPA for legal or tax advice or before signing any legal documents.