Basic Compliance with FIRPTA and FinCEN for Real Estate Transactions Presented by the Palm Beach County Bar Association ’ s Real Estate CLE Committee
Thursday , September 21st 11:30 a . m . – 2:00 p . m . Palm Beach Bar Office
1507 Belvedere Road , West Palm Beach This presentation will discuss various online portals required to be used for FIRPTA and FinCEN reportings , as well as required forms and filing via online portals . Additionally , we will discuss in detail the ethical obligations to comply with the provisions and requirements of the FIRPTA and FinCEN statutory regulations and ethical and legal consequences of false statements and non-compliance .
Presenters
Deborah Boyd , Esq . Catic
11:30 a . m . Lunch and Introduction of Speakers and Sponsors
S . Avery Smith , Title Counsel Catic
I . |
Defining a Foreign Person |
II . |
FIRPTA Withholding for a residential transaction |
III . |
FIRPTA Withholding for a non-residential transaction |
IV . |
Withholding Agent |
V . |
Substantial Presence Test |
VI . |
Closing Agent Liability |
VII . |
Real Estate Liability |
VIII . |
Definitions |
IX . |
Basic Withholding rules |
X . |
Delays |
XI . |
Confirm withholding amount . |
XII . |
Reductions to Withholdings |
XIII . |
Exemptions from Withholding |
XIV . |
Financial Crimes Enforcement Network of the U . S . Dept . of Treasury ( FinCen ) |
XV . |
FinCEN GTO |
XVI . |
Reporting Criteria |
See I . R . S ., Pub . 519 , U . S . Tax Guide for Aliens 42 ( 2022 ). |
XVII . |
CFPB ’ s proposed regulation to require disclosure of information on ALL entities as to ownership . |
XVIII . |
Conclusion |
Sponsored by : |
This event has been approved for 2.5 General credits by the Florida Bar and Certification Credits include 2.5 Real Estate and 2.5 Business Litigation . Early bird cost is $ 75 for PBCBA Regular Members , $ 115 for non-PBCBA Members , PBCBA Government members pay $ 25 , and Judges are complimentary . Register online at palmbeachbar . org .