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FIRPTA for REITs update (Foreign Investment in Real Property Tax and PATH Act)

Learn about the latest issues and implications of FIRPTA for REITs.

Whether you are investing in REITs, selling properties to or buying properties from REITs, or are investing in real properties in the USA as a foreigner or selling to a foreigner, the updates on FIRPTA withholding and tax rules enacted under the PATH Act can have powerful implications to your bottom line. You will learn about these issues from the managing director of FIRPTA refunds, a division of Forensic Professionals Group USA that specializes in services to foreigners, obtaining tax identification numbers from the IRS, filing for FIRPTA withholding reductions and refunds in commercial and residential properties nationwide to a Global clientele. He is used to explaining the complexities in a simple understandable manner. He brings more than 40 years of tax advantaged real estate disposition and mortgage financing experience to the table and is a go to source on the topic of FIRPTA.

Runtime: 88 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

PATH Act REIT Amendments to FIRPTA Opens the Flood Gates to Foreign Investment in U.S. Real Property

  • Implications of Qualifying Foreign Pension Funds No Longer Subject to FIRPTA
  • Re-Evaluation and Restructuring Considerations for REITs, Those Selling and Servicing Properties and Investors
  • Discuss Increased Exposure Buyers of REITs and U.S. Real Properties and Their Withholding Agents Have Under the New Changes

Effects of FIRPTA PATH Act Amendments on Taxation for Foreign Investors

  • Changes to Withholding Rate on Distributions
  • Defining U.S. Real Property Interests (USRPI)
  • Defining Effectively Connected Income to the Trade or Business of USRPI
  • Defining Fixed, Determinable, Annual or Periodical Income (FDAP)
    • As ECI and Non ECI
  • Partnership, Trusts and Estates Selling Interests
  • Special Rules for Foreclosures and Deeds-In-Lieu
  • Foreign Persons and Entities, Gifts and Refunds of Withholding
  • Tax Benefits of Treaties and Restrictions on Disregarded Entities

Updates on Tax Identification Numbers for Foreigners

  • Changes to the ITIN Rules
    • IRS Certified Acceptance Agents Authorized by the IRS Facilitate the ITIN Application Process
    • ITIN Changes and Renewal Requirements

Effects of Path Act Amendments to REIT Rules Affect Organizers and Investors

  • Tax Free REIT Spinoff Restrictions
  • Changes to Percentages of Maximum Stock Ownership Exceptions in Publically Traded REITs
  • Presumptions of Domestic or Foreign Control Enhancements for Establishing Foreign Status
  • FIRPTA Restrictions to the Cleansing Act

Topical Highlight of REIT Rule Changes From PATH Act, Aside From FIRPTA Changes

  • Issues and Changes Affecting Buyers of Properties, Sellers of Properties Investors and Organizers of REITs
    • Reduction in Recognition Period for REITs Acquiring C Corporations
    • REIT Ownership of Securities of a Taxable REIT Subsidiary (TRS)
    • REIT Prohibited Transaction Safe Harbors
    • REIT Preferential Dividend Rule
    • Dividend Designation Limits Set for REITs
    • Debt and Mortgage Interests
    • REITs Personal Property Assets
    • REITs Benefits From Expanded Rules Relating to Hedging Transactions
    • Taxable REIT Subsidiaries (TRS)

Some Examples of the Effect on Sample Transactions

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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 25, 2017.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Richard Merrill Kahn

Richard Merrill Kahn

FIRPTA Refunds d/b/a of Forensic Professionals Group USA, Inc.

  • Brings more than 40 years of Commercial and Residential Real Estate, Mortgage Finance and Securitization (loans purchased in pools by investors) expertise when investigating wrongful foreclosure cases that are in or face litigation
  • Principal, managing director and resident expert of Forensic Professional Group USA, Inc.'s FIRPTA refunds division, (1997-present)
  • Principal, director and FPG-USA's qualified testifying expert heading up the Wrongful Foreclosure Investigations & Expert Witness Services Division of Forensic Professionals Group USA, Inc.
  • Has worked on over 1,000 cases in 37 US States. (2008 to present)
  • Prior business and industry experience includes: commercial real estate lender and residential correspondent lender; real estate brokerage specializing in residential and commercial acquisitions and dispositions; owned and operated an off Wall Street residential and commercial real estate investment analysis firm; and National Real Estate Product Manager at Merrill Lynch
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Product ID: 397891
Published 2017
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