Form 593-B - Real Estate Withholding Tax Statement - 2005
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CALIFORNIA FORM
Real Estate Withholding Tax Statement
2005
593-B
FOR FRANCHISE
Copy A
Attach to Form 593
TAX BOARD
Withholding Agent (Payer/Sender) Check one:
Escrow/Title Company
Accommodator/Intermediary
Buyer
Private Mailbox No.
FEIN
California Corporation Number
Name, Mailing Address, City, State, and ZIP Code
Social Security Number (SSN)
Seller or Transferor (Complete one 593-B for each seller, unless husband and wife)
Private Mailbox No.
Social Security Number (SSN)
Name, Mailing Address, City, State, and ZIP Code
Spouse’s SSN (if jointly owned)
FEIN
California Corporation Number
Escrow or Exchange Information
1 Escrow or Exchange Number
2 Date of Transfer, Exchange Completion,
3 Total Sales Price
4 Ownership Percentage
Exchange Failure, or Installment Payment
%
$
________ . ______
5 Address (or parcel number and county) of the
6 Amount Subject to Withholding
7 Amount Withheld From This Seller
California real property transferred
$ _____________________________
$ ______________________________
Check One:
(.0333 x Amount Subject to Withholding)
Total Sales Price x Ownership %
Installment Payment
Boot
Failed Exchange
(Total Sales Price x Ownership %)
Preparer: Name and Title (please type or print)
Telephone Number
(
)
following the end of the month in which the
intentional disregard of the requirement, the
General Information
transaction occurred.
penalty is the greater of $100 or ten percent of
California Revenue and Taxation Code
the required withholding.
Attach Copy A of Form 593-B to the back of
Section 18662 requires the buyer or other
Form 593 and mail with payment to:
If the withholding agent does not furnish
transferee to withhold 3
1
/
percent of the total
3
complete and correct copies of Form 593-B to
FRANCHISE TAX BOARD
sales price on the disposition of California real
the FTB by the due date but does file them
PO BOX 942867
estate unless the seller certifies an exemption
within 30 days of the due date, the penalty is
SACRAMENTO CA 94267-0651
on Form 593-C, Real Estate Withholding
$15 per Form 593-B. If Form 593-B is filed
Certificate.
Distribute the other copies of Form 593-B as
more than 30 days after the due date, the
follows:
penalty is $50 per Form 593-B. If the failure is
Purpose
• Copies B & C – Send to sellers within 20
due to an intentional disregard of the require-
Use this form to report the real estate
days following the end of the month in
ment, the penalty is the greater of $100 or ten
withholding for each seller.
which the transaction occurred.
percent of the required withholding.
Use a separate Form 593-B to report the
• Copy D – Retained by withholding agent.
amount withheld from each seller. If the sellers
Specific Instructions
Interest and Penalties
are married and they plan to file a joint return,
include both spouses on the same Form 593-B.
Interest will be assessed on late withholding
Withholding Agent
payments and is computed from the date due
Who Must File
Check the box to indicate the type of withhold-
to the date paid.
ing agent (the person actually sending the
Any person who withheld on the sale or
If the real estate escrow person does not notify
withholding to the FTB). Typically, this is the
transfer of California real property during the
the buyer of the withholding requirements in
escrow or title company for regular sales and
calendar month must file Forms 593 and 593-B
writing, the penalty is the greater of $500 or
simultaneous Internal Revenue Code (IRC)
to report and remit the amount withheld.
ten percent of the required withholding.
Section 1031 exchanges; the accommodator or
Generally, this will be the title company, escrow
If the buyer (after notification) or other
intermediary for non-simultaneous exchanges;
company, intermediary, or accommodator.
withholding agent does not withhold, the
Normally, the buyer will only complete these
and the buyer for installment payments.
penalty is the greater of $500 or ten percent of
forms when reporting the withholding on
Enter the name, address, and tax identification
the required withholding.
installment payments.
number of the withholding agent (payer/
If the withholding agent does not furnish
sender).
When and Where to File
complete and correct copies of Form 593-B to
Enter the social security number only when the
File Copy A of Form 593-B with Form 593 and
the seller by the due date, the penalty is $50
buyer, who is an individual, is sending the
pay the amount of tax withheld within 20 days
per Form 593-B. If the failure is due to an
withholding payment.
593B04103
Form 593-B
2004
C2
For Privacy Act Notice, get form FTB 1131 (Individuals only)
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