Form 593-I - Real Estate Withholding Installment Sale Agreement printable pdf download

YEAR

Real Estate Withholding Installment

CALIFORNIA FORM

2003

Sale Agreement

593-I

Part I – Buyer’s Information

Return this form to your escrow company.

Name (include spouse, if applicable – see instructions – type or print)

TAX ID NUMBER

Social security number

Mailing address (Street, City, State, ZIP Code)

Spouse’s social security number (if applicable)

Private Mailbox no.

Daytime telephone number

CA Corporation number

FEIN

(

)

Property

Note: If you do not furnish your tax ID

number, this certificate is void.

Ownership percentage

Part II – Seller’s Information

Name (include spouse, if applicable – see instructions – type or print)

Social security number

Spouse’s social security number (if applicable)

Mailing address (Street, City, State, ZIP Code)

Private Mailbox no.

Note: If you do not furnish the seller’s

tax ID number, this certificate is

void.

Part III – Installment Agreement

Attach a copy of the signed promissory note (showing the installment payment requirement) to this form.

Part IV – Buyer’s Agreement to Withhold

Under penalties of perjury, I hereby agree to withhold on each payment for the above shown California real property to the above seller at the rate of

3 1/3 percent of each payment. I will complete Form 597, Real Estate Withholding Tax Statement , for each payment and send one copy to the

Franchise Tax Board with the withholding and give two copies to the seller. I will send each withholding payment by the 20th day of the month

following the month of the installment payment. If the terms of the installment sale, promissory note, or payment schedule change, I will promptly

inform the Franchise Tax Board. I understand that completing and signing this form will subject me to withholding penalties if withholding is not done

on each payment.

Buyer’s name (or buyer’s agent if buyer

is not an individual) and title (type or print) ___________________________________________________________________________________

Buyer’s spouse’s name (if on title) __________________________________________________________________________________________

Buyer’s signature _____________________________________________________________________________ Date: ____________________

Buyer’s spouse’s signature (if applicable) ___________________________________________________________ Date ____________________

Buyer: If you sign this agreement, make a copy of this form. Make sure you copy the back so you will have the instructions for withholding on

subsequent payments. Give the original, with a copy of the promissory note, to your escrow officer. Your escrow officer will withhold on the

down payment. You must withhold on all subsequent payments. If you choose not to sign this agreement, instruct your escrow officer to

withhold the full 3 1/3 percent of the total sales price. You will not have a withholding requirement on subsequent installment payments.

Escrow Officer: If this is an installment sale and the buyer has agreed to withhold on each payment instead of withholding on the full amount at the

time of transfer, withhold only on the down payment in escrow. Refer to the Form 597 instructions for further information. Make a

copy of this form for your records. Attach the original Form 593-I and a copy of the promissory note to Copy A of Form 597, and

send to FTB with the withholding on the down payment.

593I03103

Form 593-

C2 (NEW 12-2002)

For Privacy Act Notice, get form FTB 1131.

Form 593-I - Real Estate Withholding Installment Sale Agreement

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