Remitting Withholding to IRS

If the Withholding funds are being remitted to the IRS our firm will normally complete the required forms on behalf of the Title Company to ensure the funds are identified to the seller, including if necessary making an ITIN application to accompany the funds.

Exemption from Withholding.

Briefly, a possible exemption from the withholding can apply IF the buyer will sign an Affidavit (under penalty of perjury) that they or family will reside in the property for half of its occupation over the following two whole years and agree to be responsible for the 15% withholding if their affidavit is in error. Many buyers will not sign such an affidavit and leave the seller/Title Company to progress the withholding to the IRS for later refund to the seller or file a Withholding Certificate application.