Closing Time!

[#1Disfann]

Requirements for FIRPTA Payments Changing on September 30, 2025:
https://www.stewart.com/en/insights/requirements-for-firpta-payments-changing

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How FIRPTA Payment Changes Affect Buyers

Buyers must be registered with EFTPS in advance of closing.

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How FIRPTA Payment Changes Affect Foreign Sellers

Foreign sellers still receive credit for the taxes which are withheld, but only if the buyer submits the payment properly and in a timely manner.

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Next Steps to Prepare for the FIRPTA Payment Changes

First, register for EFTPS as soon as possible if you anticipate involvement in a transaction involving a foreign seller where the payment will need to be made after September 30, 2025.

The IRS’s move to mandate electronic payment via EFTPS for FIRPTA withholding represents a significant procedural shift. While intended to streamline federal tax payments, it places new burdens on buyers...
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So...sounds like buying resale DVC contracts from international sellers is now more difficult

Requirements for FIRPTA Payments Changing on September 30, 2025:
https://www.stewart.com/en/insights/requirements-for-firpta-payments-changing

====
How FIRPTA Payment Changes Affect Buyers

Buyers must be registered with EFTPS in advance of closing.

====
How FIRPTA Payment Changes Affect Foreign Sellers

Foreign sellers still receive credit for the taxes which are withheld, but only if the buyer submits the payment properly and in a timely manner.

====
Next Steps to Prepare for the FIRPTA Payment Changes

First, register for EFTPS as soon as possible if you anticipate involvement in a transaction involving a foreign seller where the payment will need to be made after September 30, 2025.

The IRS’s move to mandate electronic payment via EFTPS for FIRPTA withholding represents a significant procedural shift. While intended to streamline federal tax payments, it places new burdens on buyers...
====

So...sounds like buying resale DVC contracts from international sellers is now more difficult?

They weren't actually prepared for these changes so currently that hasn't been put into effect. From a post on the ALTA forums "Until further notice, taxpayers are to continue using the current forms and procedures, including those who are filing their 2024 returns on an extension due before December 31, 2025." Then the post continues...Therefore, for the time being, we will proceed with our current practices until the IRS develops the necessary framework for processing FIRPTA deposits through EFTPS or any other electronic format. Please do not hesitate to contact us if you have any questions." I responded to @Birdie4 on another thread that this was something I obsessed over a bit but have been assured by the title company and the FIRPTA person that it they will be handling everything. I don't close until mid January so I hope nothing goes into effect before that that causes any changes.

 

[Beachclubloverahoy]

Good news our activation code came this morning. Just waiting on the second email for member ID. Does anyone know how long that takes?

 

[#1Disfann]

Good news our activation code came this morning. Just waiting on the second email for member ID. Does anyone know how long that takes?

Mine came about 6 hours later. Congrats!

 

[Tshea112]

Just got my first email notifying me of finalized contract and then another for the activation code. awaiting my member # though today is day 36