Nonforeign Affidavits Clause Samples
A NonForeign Affidavit clause requires a party, typically the seller in a real estate transaction, to formally declare that they are not a foreign person as defined by relevant tax laws, such as the U.S. Internal Revenue Code. This is usually accomplished by providing a signed affidavit or certificate stating their citizenship or residency status. The clause ensures compliance with tax withholding requirements, specifically to avoid mandatory withholding of a portion of the sale proceeds by the buyer under laws like FIRPTA. Its core function is to protect the buyer from potential tax liability by confirming the seller's non-foreign status.
Nonforeign Affidavits. At the Closing, Seller shall deliver to Buyer (i) the Nonforeign Affidavit (the "Nonforeign Affidavit") in the form of Exhibit "J-1" attached hereto, and (ii) the California Form 590 (the "Form 590") attached hereto as Exhibit "J-2", each executed by Seller.
Nonforeign Affidavits. Each Seller shall have furnished the Purchaser with a 1445 Certification dated as of the Closing Date, stating, under penalties of perjury, the transferor’s United States taxpayer identification number and that the transferor is not a foreign person, pursuant to Section 1445(b)(2) of the Code.
Nonforeign Affidavits. An affidavit in substantially the same form as Exhibit R attached hereto, duly executed by each Contributor, as required by Section 1445 of the Internal Revenue Code, specifying (i) that such Contributor is not a foreign entity, foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income tax regulations), (ii) such Contributor's taxpayer identification number or U.S. employer identification number, and (iii) such Contributor's office address;
Nonforeign Affidavits. An affidavit in substantially the same form as Exhibit R attached hereto, duly executed by each of the Company and OP, as required by Section 1445 of the Internal Revenue Code, specifying (i) that the Company and OP are not a foreign entity, foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income tax regulations), (ii) such the Company's and OP's respective taxpayer identification numbers or U.S. employer identification numbers, and (iii) the Company's and OP's respective office addresses;
Nonforeign Affidavits. Offray, Lion and CVO shall furnish Purchaser with a FIRPTA affidavit, stating, under penalties of perjury, the transferor's United States taxpayer identification number and that the transferor is not a foreign person, pursuant to Section 1445(b)(2) of the Code.