Form 592-B - Resident And Nonresident Withholding Tax Statement - 2013 Page 3
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4Part I – Withholding Agent
Pass-through entities which were withheld
tax paid to the IRS by the partnership. The
upon by another entity should use Form 592,
partners use this information to adjust the
Enter the withholding agent’s name,
Resident and Nonresident Withholding
amount of estimated tax that they must
identification number, address, and telephone
Statement, to flow-through the withholding
otherwise pay to the IRS. The notification to
number.
to their S corporation shareholders, partners,
the foreign partners must be provided within
members, or beneficiaries whether they are
10 days of the installment due date, or, if paid
Part II – Recipient
residents or nonresidents of California.
later, the date the installment payment is made.
See Treas. Regs. Section 1.1446-3(d)(1)(i)
Enter the name of recipient, DBA (if applicable),
Use Form 592-V, Payment Voucher for
for information that must be included in
identification number, and address for the
Resident and Nonresident Withholding, to
the notification and for exceptions to the
recipient (payee).
remit withholding payments during the year.
notification requirement. For California
To remit foreign partner withholding payments
If the recipient is a grantor trust, enter
withholding purposes, withholding agents
use Form 592-A, Payment Voucher for Foreign
the grantor’s individual name and social
should make a similar notification. No
Partner or Member Withholding.
security number (SSN) or individual taxpayer
particular form is required for this notification,
identification number (ITIN). Do not enter the
and it is commonly done on the statement
B Common Errors/Helpful Hints
name of the trust or trustee information. (For
accompanying the distribution or payment.
tax purposes, grantor trusts are transparent.
• Get taxpayer identification numbers (TINs)
However, the withholding agent may choose
The individual grantor must report the income
from all payees.
to report the tax withheld to the payee on a
and claim the withholding on the individual’s
• Complete all fields.
Form 592-B.
California tax return.)
• Complete all forms timely to avoid penalties.
If the recipient is a non-grantor trust, enter
E Penalties
C Who Must Complete
the name of the trust and the trust’s federal
The withholding agent must furnish complete
employer identification number (FEIN). Do not
Form 592-B must be completed by any person
and correct copies of Form(s) 592-B to the
enter trustee information.
who:
recipient (payee) by the due date.
If the trust has applied for a FEIN, but it has
• Has withheld on payments to residents or
If the withholding agent fails to provide
not been received, zero fill the space for the
nonresidents.
complete, correct, and timely Form(s) 592-B
trust’s FEIN and attach a copy of the federal
• Has withheld backup withholding on
to the recipient (payee), the penalty per
application behind Form 592-B. After the FEIN
payments to residents or nonresidents.
Form 592-B is:
is received, amend Form 592-B to submit the
• Is a pass-through entity that was withheld
assigned FEIN.
• $50 for each payee statement not provided
upon and must flow-through the withholding
by the due date.
Only withholding agents can complete an
credit.
• $100 or 10 percent of the amount required
amended Form 592-B. Upon completion, the
Record Keeping
to be reported (whichever is greater), if the
withholding agent should provide a copy of
The withholding agent retains the proof of
failure is due to intentional disregard of the
the amended Form 592-B to the recipient. If a
withholding for a minimum of four years
requirement.
recipient notices an error, the recipient should
and must provide it to the FTB upon request.
contact the withholding agent.
Form 592-B is provided to the recipient to file
Specific Instructions
If the recipients are married/RDP, enter only
with their state tax return. This form can be
the name and SSN or ITIN of the primary
provided to the payee electronically. For more
Year – Make sure the year in the upper left
spouse/RDP. However, if the recipients intend
information go to ftb.ca.gov and search for
corner of Form 592-B represents the calendar
to file separate California tax returns, the
electronic 592-B requirements. A broker can
year in which the withholding took place. If an
withholding agent should split the withholding
provide Form 592-B as a composite statement.
S corporation’s, partnership’s, LLC’s, or trust’s
and complete a separate Form 592-B for each
For more information go to ftb.ca.gov and
current distribution represents a prior taxable
spouse/RDP.
search for composite 592-B.
year of California source income, the taxable
year on Form 592-B must represent the year
Part III – Type of Income
D When To Complete
the income was earned. (Except for foreign
Subject to Withholding
partners in a partnership, withholding of tax
Form 592-B must be provided to:
by withholding agents must be on a calendar-
Check the box(es) for the type of income
• Each resident or nonresident by January 31
year basis, regardless of the accounting period
subject to withholding.
following the close of the calendar year,
adopted by the payee or withholding agent.)
except for brokers as stated in Internal
Part IV – Tax Withheld
For foreign partners in a partnership, or foreign
Revenue Code (IRC) Section 6045.
members in an LLC, make sure the year in the
• A recipient before February 15 following the
Line 1
upper left corner of Form 592-B is the year that
close of the calendar year for brokers.
Enter the total income subject to withholding.
the partnership’s or LLC’s taxable year ended.
• Foreign partners in a partnership or foreign
Line 2
For example, if the partnership’s or LLC’s
members in a limited liability company (LLC)
Enter the total California tax withheld
taxable year ended December 31, 2011, use
on or before the 15th day of the 4th month
(excluding backup withholding). The amount
the 2011 Form 592-B.
following the close of the taxable year.
of tax to be withheld is computed by applying
Private Mail Box (PMB) – Include the PMB
If all the partners in the partnership or members
a rate of 7% on items of income subject to
in the address field. Write “PMB” first, then
in the LLC are foreign, Form(s) 592-B must be
withholding, i.e. interest, dividends, rents and
the box number. Example: 111 Main Street
provided on or before the 15th day of the 6th
royalties, prizes and winnings, premiums,
PMB 123.
month after the close of the taxable year.
annuities, emoluments, compensation
Foreign Address – Enter the information in
When making a payment of withholding
for personal services, and other fixed or
the following order: City, Country, Province/
tax to the IRS under IRC Section 1446, a
determinable annual or periodical gains, profits
Region, and Postal Code. Follow the country’s
partnership must notify all foreign partners of
and income. For foreign partners, the rate is
practice for entering the postal code. Do not
their allocable shares of any IRC Section 1446
8.84% for corporations, 10.84% for banks
abbreviate the country’s name.
Form 592-B 2012 Page 3
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