Form 592-B Draft - Nonresident Withholding Tax Statement - 2008 Page 2
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3Distribute the copies of Form 592-B as
For foreign partner withholding, make
follows:
sure the year in the upper left corner of
Form 592-B is the year that the partnership’s
• Copy A – Retained by withholding agent.
taxable year ended. For example, if the
• Copy B – Provide to the recipient to file
partnership’s taxable year ended 12/31/07,
with their state return.
use the 2007 form.
Federal law requires that payees be notified
within 10 days of the quarterly installment
Part I
payment date regarding any tax withheld. For
Enter the tax identification number, name, and
California withholding purposes, withholding
address for the recipient (vendor/payee).
agents should make similar notification. No
If the recipient is a grantor trust, enter the
particular form is required for this notification,
grantor’s individual name and SSN or ITIN.
and it is commonly done on the statement
Do not enter the name of the trust or trustee
accompanying the distribution or payment.
information. (For tax purposes, grantor trusts
However, the withholding agent may choose
are transparent. The individual grantor must
to report the tax withheld to the payee on a
report the income and claim the withholding
Form 592-B.
on the individual’s California tax return.)
Penalties
If the recipient is a non-grator trust, enter
the name of the trust and the trust’s federal
The withholding agent must furnish complete
employer identification number (FEIN). Do not
and correct copies of Form(s) 592-B to the
enter trustee information.
recipient (vendor/payee) by the due date.
If the trust has applied for the FEIN, but it has
If the withholding agent fails to provide
not been received, enter “Applied For” in the
complete, correct, and timely Form(s) 592-B
FEIN field. After the FEIN is received, complete
to the recipient (vendor/payee), the penalty
another Form 592-B and write “Amended” in
per Form 592-B is:
the top margin.
• $50 if provided late to the recipient.
Only withholding agents can complete an
• $100 or 10% of the amount required to
amended Form 592-B. Upon completion, the
be reported (whichever is greater) if the
withholding agent should provide Copy B to
failure is due to intentional disregard of the
the recipient. If a recipient notices an error,
requirement.
the recipient should contact the withholding
agent.
Specific Instructions
If the recipients are married/RDP, enter only
the name and SSN or ITIN of the primary
Private Mail Box – Include the Private Mail
spouse/RDP. However, if the recipients intend
Box (PMB) in the address field. Write the
to file separate California tax returns, the
acronym “PMB” first, then the box number.
withholding agent should split the withholding
Example: 111 Main Street PMB 123.
and complete a separate Form 592-B for each
Year – Make sure the year in the upper
spouse/RDP.
left corner of Form 592-B represents the
Part II
calendar year in which the withholding
took place. However, if an S corporation’s,
Enter the withholding agent’s tax identification
partnership’s, limited liability company’s, or
number, name, address, and telephone
trust’s current distribution represents a prior
number.
tax year California source income, attach
a letter to that Form 592-B explaining that
Part III
the distribution took place in the current
Check the box(es) for the type of income
withholding year, but was for a prior tax year.
subject to withholding.
(Except for foreign partners, withholding
of tax by withholding agents must be on
Part IV
a calendar-year basis, regardless of the
Line 1
accounting period adopted by the vendor/
Enter the total income subject to withholding.
payee or withholding agent.)
Line 2
Enter the total California tax withheld.
Form 592-B 2007
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