A $5 million sale. $750,000 withheld under FIRPTA. Then another problem surfaced: missed Form 5472 and Form 1120 filing requirements creating potential IRS penalty exposure approaching $100,000. Foreign sellers—and the professionals assisting them—should know when to ask the question.
A claimed FIRPTA exemption is not a substitute for due diligence. Learn why buyers and closing professionals should independently verify the facts before relying on an exemption from withholding.
