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response from the FTB has not been received

Please wait 10 working days after faxing your

• Installment Sales

by the time title is transferred, the parties to

request and 13 working days after mailing

Completed and signed California

the transaction may direct the escrow person

your request, before contacting us.

Form 597-I, Nonresident Withholding

to hold funds for withholding in trust up to 45

Installment Sale Agreement.

G Additional Information

days from the date title is transferred.

The current sale escrow document

If Form 597-W is not filed timely with the FTB

To order California tax forms not related to

(estimated closing statement, or

and title passes to the buyer/transferee before

nonresident withholding or for more informa-

closing statement).

the application can be processed, withholding

tion you may contact us:

Purchase escrow document (closing

of 3 1/3% of the total sales price is required.

statement) from the original

By Internet: You may download, view, and

There is no provision to authorize an early

transaction.

print California tax forms and publications. Go

refund after title has passed to the buyer/

The note agreement.

to our website at:

transferee and the withholding has been

List of any improvements and related

By automated phone service: Use this

remitted to the FTB.

costs.

service to order California tax forms and

Any withholding waiver issued by the FTB

• Reacquired Property (Foreclosure or

current year federal forms.

applies only for the limited purpose of

Repossession)

Have paper and pencil ready to take notes.

determining the withholding obligation under

The current sale escrow document

From within the

R&TC Section 18662. The withholding waiver

(estimated closing statement or closing

United States . . . . . . . . . . . (800) 338-0505

would not apply for other issues that may

statement).

arise in connection with the transfer. The FTB

From outside the

The original sale escrow document

may accept evidence submitted with a waiver

United States

(916) 845-6500

(not toll-free)

from the first time you sold the

request for the purpose of issuing the

property prior to foreclosure.

Follow the recorded instructions. This service

withholding waiver; however, this evidence

The original purchase escrow docu-

is available 24 hours a day, seven days a

may not be adequate for other issues related

ment (closing statement) from when

week.

to the transfer.

you originally purchased the property.

By mail – Please allow two weeks to receive

If you receive a determination letter from the

Statement of the amount of cash (down

your order. If you live outside of California,

FTB reducing the amount of withholding, the

payment) received on the original sale

please allow three weeks to receive your

withholding agent must enter the confirma-

prior to foreclosure.

order. Write to:

tion number from the FTB determination letter

Statement of the amount of notes

TAX FORMS REQUEST UNIT

on Form 597, Nonresident Withholding Tax

received or carried prior to foreclosure.

FRANCHISE TAX BOARD

Statement for Real Estate Sales, when

Provide a copy of the note carried.

PO BOX 307

payment is sent to the FTB. Payment must be

Statement of the balance due remaining

RANCHO CORDOVA CA 95741-0307

sent with Form 597.

on the note.

List of the foreclosure costs (the costs

In person – Most libraries, post offices, and

F Where to File This Form

to get the property back).

banks provide free California personal income

List of any improvements and related

tax booklets during the filing season. Many

If you meet one of the exemptions to

costs.

libraries and some quick print businesses

withholding in Part I, the form should not be

The calculation of the gain from the

have forms and schedules for you to

sent to the FTB. The Form 597-W, Part I,

original sale.

photocopy (you may have to pay a nominal

should be given to the buyer or escrow

A copy of federal Form 6252,

fee). Note: Employees at libraries, post

company. Be sure to sign the form to certify

Installment Sale Income, or California

offices, banks, and quick print businesses

that you meet the exemption.

form FTB 3805E, Installment Sale

cannot provide tax information or assistance.

If you are requesting a waiver or reduction in

Income, filed with your tax return in the

Assistance for persons with disabilities

the withholding (and do not meet one of the

year of the original sale.

The FTB complies with provisions of the

exemptions in Part I), the completed

Deed in-lieu of foreclosure or trustee’s

Americans with Disabilities Act. Persons with

Form 597-W should be filed with the FTB to

deed upon sale.

hearing or speech impairments, call:

request an authorized determination. Fax

Form 597-W to (916) 845-9512 or mail to:

From voice phone . . . . . . . . . (800) 735-2922

E When to File This Form

(California Relay Service)

NONRESIDENT WITHHOLDING SECTION

When requesting a waiver or reduction in

FRANCHISE TAX BOARD

From TTY/TDD . . . . . . . . . . . (800) 822-6268

withholding, the Form 597-W should be

PO BOX 651

(Direct line to FTB customer service)

completed and sent to the FTB as soon as you

SACRAMENTO CA 95812-0651

For all other assistance or special accommo-

enter into a contract of sale.

If you send your request by fax, do not send

dations, call (800) 852-5711.

The FTB will determine if the withholding

the original request by mail.

should be eliminated, reduced, or if the

request should be denied. The FTB usually

processes applications within 45 days after

receipt of all necessary information. If a

Page 4 Form 597-W

(REV 2000)

California Form 597-W - Withholding Exemption Certificate And Nonresident Waiver Request For Real Estate Sales - 2000 Page 4

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