California Form 541-Es - Estimated Tax For Fiduciaries - 2009
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22009 Instructions for Form 541-ES
Estimated Tax For Fiduciaries
What’s New
primarily responsible for paying debts, taxes,
Mental Health Services Tax. If the estate’s or
and expenses of administration) for any taxable
trust’s taxable income is more than $1,000,000,
Estimated Tax Payments
year ending before the date that is two years
compute the Mental Health Services Tax below
Estimated tax payments due for each taxable year
after the decedent’s death.
using whole dollars only.
beginning on or after January 1, 2009, are now
If the estate or trust must make estimated tax
A. Taxable income from Form 541
required to be 30% of the required estimated tax
payments, use the Estimated Tax Worksheet on
line 20. . . . . . . . . . . . . . . . . .
liability for the 1st and 2nd required installments
the next page to figure the amount owed.
and 20% of the required estimated tax liability for
B. Less . . . . . . . . . . . . . . . . . . .
$(1,000,000)
Real Estate Mortgage Investment Conduit
the 3rd and 4th required installments. Prior to this
C. Subtotal . . . . . . . . . . . . . . . .
(REMIC) trusts are not required to make
law change, estimated tax payments were made in
D. Multiply line C by 1% . . . . . .
x .01
estimated payments.
four equal (25%) payments.
E. Mental Health Services Tax –
Tax-exempt trusts and nonexempt charitable
Estates and trusts with a 2009 adjusted gross
Enter this amount on line 10
trusts described in IRC Section 4947(a)(1) should
income equal to or greater than $1,000,000 may
of the 2009 Estimated Tax
use Form 100-ES, Corporation Estimated Tax.
no longer compute estimated tax payments based
Worksheet on the next page
on 100% of the tax shown on the return of the
C When to Make Estimated Tax
preceding year.
Payments
D How to Use Form 541-ES
Estates and trusts with a tax liability less than $500
For estimated tax purposes, the year is divided
Use the Estimated Tax Worksheet on the next
do not need to make estimated tax payments.
into four payment periods. Each period has a
page and the 2008 Form 541 return as a guide for
General Information
specific payment due date. If an estate or trust
figuring the 2009 estimated tax payment.
does not pay enough tax by the due date of each
Round Cents to Dollars – Round cents to the
There is a separate payment form for each due
of the payment periods, it may be charged a
nearest whole dollar. For example, round $50.50 up
date. Use the form with the correct due date.
penalty even if it is due a refund when it files its
to $51 or round $25.49 down to $25. If you do not
Fill in Form 541-ES:
income tax return. The payment periods and due
round, the Franchise Tax Board (FTB) will disregard
dates are:
1. Print the estate’s or trust’s name, the
the cents.
fiduciary’s name and title, mailing address,
For the payment period
Due date is:
A Purpose
and the estate’s or trust’s federal employer
Jan. 1 through March 31, 2009
April 15, 2009
identification number (FEIN) in the space
Use Form 541-ES, Estimated Tax For Fiduciaries, to
April 1 through May 31, 2009
June 15, 2009
provided on Form 541-ES. Use black or blue
figure and pay estimated tax for an estate or trust.
June 1 through August 31, 2009
September 15, 2009
ink. Print all names and words in CAPITAL
Estimated tax is the amount of tax the fiduciary of
Sept. 1 through Dec. 31, 2009
January 15, 2010
LETTERS. If the estate’s or trust’s name or
an estate or trust expects to owe for the year.
Filing an Early Tax Return in Place of the 4th
address is too long to fit in the provided
Installment. If an estate or trust files its 2009 tax
B Who Must Make Estimated
spaces, do not shorten the name or address.
return by January 31, 2010, and pays the entire
Instead, ignore the combed lines and fit the
Tax Payments
balance due, it does not have to make its last
information in the space provided.
Generally, a fiduciary of an estate or trust must
estimated tax payment.
Include the Private Mail Box (PMB) in the
make 2009 estimated tax payments unless:
Annualization Option. If the estate or trust does
address field. Write “PMB” first, then the box
• 100% or more of the estate’s or trust’s 2008
not receive its taxable income evenly during the
number. Example: 111 Main Street PMB 123.
tax was paid by withholding; or
year, it may be to its advantage to annualize the
2. Enter on the payment line of the form only the
• 90% or more of the estate’s or trust’s 2009 tax
income. This method allows matching estimated
amount of the current payment. When making
will be paid by withholding.
tax payments to the actual period when income
payments of estimated tax, be sure to take into
was earned. Use the annualization schedule
Generally, the required estimated tax amount is
account any previous year’s overpayment to
included with 2008 form FTB 5805, Underpayment
based on the lesser of 90% of the current year’s
be credited against the current year’s tax, but
of Estimated Tax by Individuals and Fiduciaries.
tax or 100% of the prior year’s tax including AMT,
do not include the overpayment amount in the
or 110% of that amount if the estate’s or trust’s
Farmers and Fishermen. If at least 2/3 of gross
payment amount.
adjusted gross income (AGI) on the 2008 return
income for 2008 or 2009 is from farming or
3. If part of the estimated tax is to be allocated
is more than $150,000.
fishing, the estate or trust may apply one of the
to the beneficiaries per IRC Section 643(g),
following:
Limit on Prior Years Tax
enclose a copy of Form 541-T, California
• Pay the total estimated tax by
Estates or trusts with a 2009 adjusted gross
Allocation of Estimated Tax Payments for
January 15, 2010.
income equal to or greater than $1,000,000 must
Beneficiaries, to Form 541-ES.
• File Form 541, California Fiduciary Income Tax
figure the estimated tax payments based on the
4. Make a check or money order payable to the
Return, for 2009 on or before March 1, 2010,
estate or trust’s 2009 tax liability.
“Franchise Tax Board.” Write the FEIN and
and pay the total tax due. In this case,
An estate or trust is not required to make 2009
“2009 Form 541-ES” on the check or money
estimated tax payments are not due for 2009.
estimated tax payments if:
order. Enclose, but do not staple the payment
Enclose form FTB 5805F, Underpayment of
with Form 541-ES and mail to:
• The tax for 2008 (after subtracting withholding
Estimated Tax by Farmers and Fishermen, with
and credits) was less than $500.
FRANCHISE TAX BOARD
Form 541.
• The tax for 2009 (after subtracting withholding
PO BOX 942867
Fiscal Year. If the estate or trust files on a fiscal
and credits) will be less than $500.
SACRAMENTO CA 94267-0031
year basis, the due dates will be the 15th day of
• It is a decedent’s estate for any taxable year
the 4th, 6th, and 9th months of the fiscal year
Make all checks or money orders payable in
ending before the date that is two years after
and the first month of the following fiscal year.
U.S. dollars and drawn against a U.S. financial
the decedent’s death.
institution.
When the due date falls on a weekend or holiday,
• It is a trust that was treated as owned by
the deadline to file and pay without penalty is
5. Keep a record of the payment.
the decedent and if the trust will receive the
extended to the next business day.
residue of the decedent’s estate under the will
6. Fiscal year filers: Fill in the month and
(or if no will is admitted to probate, the trust is
year-end information at the top of the form.
Form 541-ES Instructions 2008 (REV 02-09)
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