Not so much the building foundations but the water line being below frost depth. Given the horizontal underground portion should be below the frost line, any frost acting on the riser will just be acting on the riser only.
With underground PVC runs, the horizontal portion of the run may be and often is within the frost zone. It will move up and down with the frost as it acts on the soil at the depth of the conduit's horizontal run. The building the equipment at the upper end of the riser is attached to above does not move with the frost below... as the equipment is attached to the building setting on a footing below frost level.