Form 541-T - California Allocation Of Estimated Tax Payments For Beneficiaries - 2010 Page 2
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1
2Instructions for Form 541-T
California Allocation of Estimated Tax Payments to Beneficiaries
references in these instructions are to the Internal revenue Code (IrC) as of January 1, 2009, and to the California revenue and Taxation Code (r&TC).
General Instructions
B How to File
Line 2
Column (b) – Beneficiary’s name and address
Registered Domestic Partners (RDP)
File Form 541-T separately from Form 541,
Group the beneficiaries to whom you are
Under California law, RDPs must file their
California Fiduciary Income Tax Return . Do not
allocating estimated tax payments into two
California income tax returns using either the
attach Form 541-T to Form 541 .
categories . In the first category, list all the
married/RDP filing jointly or married/RDP filing
C Where to File
individual beneficiaries who have a social
separately filing status . RDPs have the same
security number (SSN) or individual taxpayer
legal benefits, protections, and responsibilities
Mail Form 541-T to:
identification number (ITIN) . In the second
as married couples unless otherwise specified .
FRANCHISE TAX BOARD
category, list all the other beneficiaries .
If you entered into a same sex legal union in
PO BOX 942840
Column (c) – Beneficiary’s identifying number
another state, other than a marriage, and that
SACRAMENTO CA 94240-0002
For each beneficiary who is an individual, enter
union has been determined to be substantially
the SSN or ITIN . For all other entities, enter the
D When to File
equivalent to a California registered domestic
federal employer identification number (FEIN) .
partnership, you are required to file a California
For the election to be valid, a trust or
Failure to enter a valid SSN/ITIN or FEIN may
income tax return using either the married/RDP
decedent’s estate must file Form 541-T by the
cause a delay in processing and could result in
filing jointly or married/RDP filing separately
65th day after the close of the taxable year as
the imposition of penalties on the beneficiary .
filing status .
shown at the top of the form . If the due date
For those beneficiaries who file a joint income
For purposes of California income tax,
falls on a weekend or holiday, the deadline to
tax return, you can assist the Franchise Tax
references to a spouse, husband, or wife also
file is extended to the next business day . For a
Board in crediting the proper account by
refer to a California registered domestic partner
calendar year trust, the due date is on or before
providing the SSN or ITIN, if known, of the
(RDP), unless otherwise specified . When
March 7, 2011 .
beneficiary’s spouse/RDP . However, this is an
we use the initials RDP they refer to both a
optional entry .
E Period Covered
California registered domestic “partner” and a
Column (d) – Amount of estimated tax
California registered domestic “partnership,” as
File Form 541-T for calendar year 2010 and
payment allocated to beneficiary
applicable . For more information on RDPs, get
fiscal years beginning in 2010 . If the form
For each beneficiary, enter this amount on
FTB Pub . 737, Tax Information for Registered
is for a fiscal year or a short year, enter the
Schedule K-1 (541), Beneficiary’s Share of
Domestic Partners .
taxable year in the space at the top of the form .
Income, Deductions, Credits, etc ., line 13a .
Private Mail Box (PMB)
Column (e) – Proration percentage
F Internet Access
Include the PMB in the address field . Write
For each listed beneficiary, divide the amount
“PMB” first, then the box number .
You can download, view, and print California
shown in column (d) by the amount shown on
Example: 111 Main Street PMB 123 .
tax forms and publications at ftb.ca.gov .
line 1 and enter the result as a percentage .
A Purpose
Access other state agencies’ websites at ca.gov .
Line 3
If you are allocating a payment of estimated
A trust or, for its final year, a decedent’s
Specific Line Instructions
tax to more than 10 beneficiaries, list the
estate may elect under California Revenue
additional beneficiaries on an attached sheet
Line 1
and Taxation Code Section 17731 and Internal
that follows the format of line 2 . Enter on line 3
Enter the amount of the estimated tax
Revenue Code Section 643(g) to have any part
the total from the attached sheets . Include the
payments made by the trust or decedent’s
of its estimated tax payments treated as made
fiduciary name and SSN/ITIN or FEIN on the
estate that the fiduciary elects to treat as
by a beneficiary or beneficiaries . The trustee or
attached sheets .
a payment made by the beneficiaries . This
fiduciary files Form 541-T, California Allocation
amount is treated as if paid or credited to the
of Estimated Tax Payments to Beneficiaries, to
beneficiaries on the last day of the taxable year
make the election . Once made, the election is
of the trust or decedent’s estate . Be sure to
irrevocable .
include the amount on Form 541, Schedule B,
Do not distribute resident and nonresident real
Income Distribution Deduction, line 10 .
estate withholding, or backup withholding to
beneficiaries on Form 541-T . Use Forms 592,
Resident and Nonresident Withholding
Statement, and 592-B, Resident and
Nonresident Withholding Tax Statement, to
allocate withholding .
Form 541-T Instructions 2010 Page 1
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