[WSBARP] Question about avoiding FIRPTA

[Kary Krismer]

I can't imagine there are any "creative" ways around it which are 
legitimate, particularly given the the ability of the IRS to look at 
substance over form.  But the fact that you're seeing "ideas" from 
others to try to get around it makes me wonder if the "confidential 
order issued pursuant to the Bank Secrecy Act" that I've seen referenced 
on title reports also applies to sellers that are LLC's.  I've not seen 
such a title report since that started showing up.

Kary L. Krismer
John L. Scott/KMS Renton
206 723-2148

On 9/25/2018 4:53 PM, Michael Safren wrote:
> Hello Fellow Listservs and Real Property Experts:
>
> I have a question that I wanted to ask the group - does anyone know of 
> any reliable strategies to help a foreign national structure their 
> entity so that they can avoid FIRPTA when it comes time to sell their 
> real property assets?
>
> I've seen ideas about creating a multi-party LLC, but that seems to 
> only move the withholding from the entity at the time of the sale down 
> to the members at the time of distribution and the withholding seems 
> to be  37% to non-corporate partners (members), and 21% for corporate 
> foreign partners (members).
>
> Anyone have any other ideas/ strategies?
>
> Thanks in advance!
>
> Kind regards,
> Michael Safren
>
>
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