Virginia R-5 - Nonresident Real Property Owner Registration Form
Extracted from PDF file 2019-virginia-form-r-5.pdf, last modified August 2015
R-5 - Nonresident Real Property Owner Registration FormForm R-5 Virginia Department of Taxation Nonresident Real Property Owner Registration Do not complete if exemptions on Form R-5E apply Part I. If the property is disposed of by the non-resident payee, indicate the use of the property by the non-resident payee immediately prior to disposal: Nonresident Payee SSN, FEIN, or Virginia Business Account Number Name Primary Residence; (If Trust) Name and Title of Fiduciary Secondary Residence (Vacation Property, etc.) ; Leased or Rented property to third-party; Address (of Fiduciary if Trust) Number & Street or Rural Route & Box # Other - Describe___________________________ City or Town, State and ZIP Code Part IV. PARTNERSHIPS, S-CORPORATIONS, ESTATES and TRUSTS must provide the above information on all nonresident partners, shareholders, and beneficiaries on Form R-5P. Substitute schedules may be used provided the same format is followed. Part II. Type of Entity (check one and enter total shares) Individual C-Corp. Trust/Estate Partnership LLC S-Corp Check here if filing a unified individual income tax return for nonresident shareholders or partners Total number of partners, shareholders or beneficiaries. . . . . . . . . . . . . . . . . . . . . . Check either Rentals and/or Sales and complete the appropriate information Rental Average Gross Monthly Rental Income . . . $ First date property placed in service by nonresident payee. . . . . . . . (mm/dd/yyyy) Sales Gross Proceeds From Sale. . . . . . . . . . . . . $ Date of closing. . . . . . . . . . (mm/dd/yyyy) Installment Date payments begin. . . . (mm/dd/yyyy) Date payments end . . . . . (mm/dd/yyyy) Part V. Broker or Real Estate Reporting Person SSN, FEIN, or Virginia Business Account Number Part III. Property Information If more than one piece of property is being rented or sold, attach a separate schedule listing the legal description of each property. Legal Description Address ( Number & Street) City or Town, State and ZIP Code Address (Number and Street or Rural Route and Box Number) City or County and ZIP Code Indicate type of property: Residential Name Commercial Agricultural Where To Get Help. If you have any questions, call (804) 367-8031 or write to Virginia Department of Taxation, P.O. Box 1115, Richmond, Virginia 23218-1115. Where To Get Forms. Forms can be downloaded from the website at www.tax.virginia.gov or ordered by phone from the Department of Taxation, 804-367-8031. Other - Describe___________________________ I, the undersigned, do declare under penalties provided by law the information provided in Parts I, II, III, IV and V is true, correct and complete to the best of my knowledge and belief. Signature _____________________________________________________ Date_______________________ Mail this certificate to: Department of Taxation, P. O. Box 1880, Richmond, VA 23218-1880 1501231 Rev. 02/15 Nonresident Real Property Owner Registration Instructions General Filing Information Fee for preparation of Form R-5: Section 6.1-2.23:2 of the Code of Virginia prohibits settlement agents from charging any party to a real estate transaction, as a separate item on a settlement statement, a sum exceeding $10 for complying with any requirement imposed on the settlement agent by §§ 58.1-316 or 58.1-317. Brokers and real estate reporting persons are required to transmit the registration forms by the 15th of the month following the month in which the closing occurred (sales) or the form was received from the nonresident property owner (rentals). Rentals Brokers (as defined in IRS Code Sec. 6045) managing Virginia rental properties must request registration from all existing clients. Future clients must be requested to register when they engage the broker to manage rental property. The penalty to the broker or real estate reporting person for failure to file is $50 per month up to a maximum of six months. Nonresident payees are: • Individuals who are not domiciled in Virginia or who do not live in Virginia for more than 183 days during a year; • Corporations not organized under Virginia law; Brokers must file on behalf of nonresidential property owners (payees) who do not furnish the requested forms within 60 days. Brokers are only responsible for the information available in their records. • Estates and Trusts (1) which consists of real property belonging to a nonresident individual (or Decedent), or (2) that are being administered outside of Virginia Nonresident owners previously registered may furnish subsequent brokers with a copy of current registration form in lieu of completing a new form. These copies do not need to be filed with the Department by the broker. • Partnerships, Limited Liability Corporations, and S-Corporations which have nonresident partners or shareholders who receive income from the sale of rental or real property located in Virginia. Nonresident owners of rental properties not managed by a broker also must comply with the registration requirement. Sales Real estate reporting persons (as defined in IRS Code Sec. 6045) must request registration forms from all nonresident sellers upon closings. If a client does not complete the form at closings, the real estate reporting person must complete a form on the client’s behalf. Real Estate reporting persons are only responsible for information that is available in their files. Sales exempt from federal and state income tax are also exempt from registration; an exemption certificate must be completed and given to the real estate reporting person. Completing the Form Items not specifically mentioned below are selfexplanatory on the form. Each section, Parts I-IV, is to be filled out completely. If the nonresident payee does not use the services of a broker or real estate reporting person, Part V should not be completed. The nonresident payee should mail the Form R-5 or R-5E to the Department of Taxation. If, however, nonresident payee uses a broker or real estate reporting person, Part V should be completed and the nonresident payee should mail Form R-5 or R-5E to the address given at the bottom of the Form. Gross Proceeds and Closing Date - The amount of gross proceeds and the closing date are the same as the information reported on Federal Form 1099-S, if applicable. Installment Sale - Generally - If at least one payment is to be received after the close of the taxable year in which the sale occurs (see IRS Code Sec. 453 (b)), list the dates payments will be made.
More about the Virginia Form R-5 Other Nonresident
We last updated the R-5 - Nonresident Real Property Owner Registration Form in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Virginia Department of Taxation. You can print other Virginia tax forms here.
Related Virginia Other Forms:
|Form Code||Form Name|
|Form R-5E||R-5E - Nonresident Real Property Owner Exemption Certificate|
|Form R-5P||R-5P - Nonresident Real Property Owner Shareholder/Partner Schedule|
|Form RR 5||RR 5 (1601080) - Class 5 (Locomotives, Passenger, Freight, and Work Equipment owned as of Dec. 31)|
|Form RR 5D||RR5D(1601090) - Class 5 Detail Sheet|
|Form RR 5S||RR 5S (1601091) - Class 5 Summary Sheet|
Virginia usually releases forms for the current tax year between January and April. We last updated Virginia Form R-5 from the Department of Taxation in March 2020.
Form R-5 is a Virginia Other form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.
Historical Past-Year Versions of Virginia Form R-5
We have a total of seven past-year versions of Form R-5 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
R-5 update 010308.indd
While we do our best to keep our list of Virginia Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.