California Form 593 Draft - Real Estate Withholding Remittance Statement

Exchanges: For exchanges, this is either

due date, the penalty is $15 per

Line 3

the month that the last leg of the ex-

Form 593-B. If Form 593-B is filed more

Enter the total Amount Withheld (box 7)

change was completed and boot (cash or

than 30 days after the due date, the

from the attached Forms 593-B.

cash equivalent) was distributed to the

penalty is $50 per Form 593-B. If the

Line 4

exchangor or when it was determined that

failure is due to an intentional disregard of

Enter the interest due that was assessed

the exchange would not meet the Internal

the requirement, the penalty is the greater

and is being paid on late withholding

Revenue Code (IRC) Section 1031

of $100 or ten percent of the required

payments for 2006. Attach a copy of the

requirements and any cash or cash

withholding.

interest assessment letter(s) behind

equivalent was distributed to the seller.

Form 593.

Specific Instructions

When the relinquished property was sold

in the year prior to the year withholding is

Caution: If you received Form 592-A with

Before You Begin

done, use withholding forms for the year

your interest assessment letter for a year

of the distribution of funds since the

prior to 2004, do not include the interest

Complete all Forms 593-B that will be

exchangor will qualify for installment sale

payment on Form 593. Use the

attached to this Form 593. Online fillable

reporting.

Form 592-A prepared for you by FTB to

Forms 593 and 593-B are available on our

send your interest payment. If the interest

Website at

Interest Assessment Payment: If you

due is for 2004, get the 2004 Form 593.

received an interest assessment letter and

Withholding Agent

If the interest due is for 2005, get the

the interest due date is prior to your next

2005 Form 593.

Make sure you complete all appropriate

withholding due date, you should send

lines on Forms 593 and 593-B to avoid

Form 593 immediately with your interest

If you are paying your withholding late, do

processing delays.

payment. You would then send a separate

not estimate the interest. The FTB will

Form 593 with the next withholding

compute the interest and send you an

Check the box to indicate the type of

payment.

interest assessment letter after we receive

withholding agent (the person actually

the payment.

sending the withholding to the FTB).

Attach a copy of any interest assessment

Typically, this is the escrow or title

letter for which payment is included on

Line 5

company for regular sales and simulta-

line 4 and Copy A of all Forms 593-B for

Enter the sum of line 3 and line 4. This is

neous IRC Section 1031 exchanges; the

the calendar month behind Form 593 and

the total payment amount.

Advance Draft as of

accommodator or intermediary for non-

mail with your payment to:

simultaneous exchanges; and the buyer

Additional Information

FRANCHISE TAX BOARD

for installment payments.

PO BOX 942867

For more information on real estate

Enter the name, address, and tax identifi-

SACRAMENTO CA 94267-0651

withholding, get FTB Pub. 1016, Real

October 4, 2006

cation number of the withholding agent

Note: Attach the check(s) to the front of

Estate Withholding Guidelines. To get a

(payer/sender).

Form 593. If you are mailing more than

withholding form or publication, or to

Enter the social security number only

one Form 593, send them in separate

speak to a representative, contact our

when the buyer, who is an individual, is

envelopes.

Withholding Services and Compliance

sending the withholding payment.

Section's automated telephone service at:

Interest and Penalties

(888) 792-4900 (toll-free), or

Line 1

Interest will be assessed on late withhold-

Enter the two digit month of the withhold-

(916) 845-4900

ing payments and is computed from the

ing. If you are only paying interest, leave

FAX (916) 845-9512

date due to the date paid.

line 1 blank.

You can download, view, and print

If the real estate escrow person does not

Caution: Report only a single month of

California tax forms and publications from

notify the buyer of the withholding

withholding per Form 593. All attached

our Website at

requirements in writing, the penalty is the

Forms 593-B should have a closing date

greater of $500 or ten percent of the

Assistance for Persons with Disabilities

during this same month. If you are

required withholding.

We comply with the Americans with

sending withholding for more than one

Disabilities Act. Persons with hearing or

If the buyer (after notification) or other

month, complete a separate Form 593 for

speech impairments please call:

withholding agent does not withhold, the

each month. If you already sent a

penalty is the greater of $500 or ten

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

Form 593 for the calendar month but have

percent of the required withholding.

additional withholding to remit, complete

Asistencia Telefonica y en el Internet

a new Form 593 showing the totals for the

If the withholding agent (the person who

Dentro de los Estados Unidos,

additional payment. Do not include

withheld) does not furnish complete and

llame al . . . . . . . . . . . (800) 852-5711

amounts reported on a previous

correct copies of Form 593-B to the seller

Fuera de los Estados Unidos,

Form 593. Do not send the instructions

by the due date, the penalty is $50 per

llame al . . . . . . . . . . . (916) 845-6500

for Forms 593 or 593-B to the FTB.

Form 593-B. If the failure is due to an

(cargos aplican)

intentional disregard of the requirement,

Sitio en el Internet:

Line 2

the penalty is the greater of $100 or ten

Enter the number of Forms 593-B

Asistencia para Personas

percent of the required withholding.

attached to Form 593. The date in Box 2

Discapacitadas

If the withholding agent does not furnish

on each Form 593-B should be the same

Nosotros estamos en conformidad con el

complete and correct copies of

month as indicated on line 1. Attach only

Acta de Americanos Discapacitados.

Form 593-B to the FTB by the due date

Copy A of Form 593-B.

Personas con problemas auditivos pueden

but does file them within 30 days of the

llamar al TTY/TDD (800) 822-6268.

Page 2 Form 593 2005

California Form 593 Draft - Real Estate Withholding Remittance Statement - 2006 Page 2

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