Virginia R-5 - Nonresident Real Property Owner Registration Form

R-5 - Nonresident Real Property Owner Registration Form
Form R-5
Form 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.