Non-Foreign Status Clause Samples
The Non-Foreign Status clause serves to confirm that a party involved in a transaction is not a foreign person or entity under applicable tax laws, typically U.S. law. In practice, this clause often requires the seller to provide a certification, such as an IRS Form W-9, affirming their status as a U.S. person for tax purposes. This helps the buyer avoid mandatory withholding of a portion of the purchase price under the Foreign Investment in Real Property Tax Act (FIRPTA). The core function of this clause is to ensure compliance with tax regulations and to protect the buyer from potential tax liabilities related to transactions with foreign sellers.
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Non-Foreign Status. Seller is not a “foreign person” as that term is used in Treasury Regulations Section 1.1445-2.
Non-Foreign Status. Seller is not a “foreign person” within the meaning of Paragraph 1445(f)(3) of the Internal Revenue Code of 1986, as amended.
Non-Foreign Status. Contributor is a United States person (as defined in Section 7701(a)(30) of the Code), and is, therefore, not subject to the provisions of the Code relating to the withholding of sales proceeds to foreign persons, and is not subject to any state withholding requirements. Contributor will provide affidavits to this effect as provided for in Section 2.3(f) of the Agreement.
Non-Foreign Status. Seller is not a “foreign person” as that term is defined in the Code and the regulations promulgated pursuant thereto.
Non-Foreign Status. Seller is not a “foreign person” within the meaning of Section 1445 of the Code.
Non-Foreign Status. Borrower is not a nonresident alien for purposes of U.S. income taxation and is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as said terms are defined in the Code or regulations promulgated thereunder).
Non-Foreign Status. The Contributor is not a foreign person, foreign corporation, foreign partnership, foreign trust or foreign estate (as defined in the Code), and is, therefore, not subject to the provisions of the Code relating to the withholding of sales proceeds to foreign persons.
Non-Foreign Status. Each of Contributor and each Contributed Entity, or if any of the foregoing is an entity disregarded from its owner, the regarded owner of such entity, is a “United States person” (as defined in the Code).
Non-Foreign Status. The Company is a “United States person” (as defined in Section 7701(a)(30) of the Code).
Non-Foreign Status. The Company is not a "foreign person" within the meaning of Section 1445 of the Code and Treasury Regulations Section 1.1445-2.