California Form 592 - Resident And Nonresident Withholding Statement - 2012 Page 3
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4Instructions for Form 592
Resident and Nonresident Withholding Statement
General Information
• Corporations not qualified through
or distributions to domestic nonresident
the California Secretary of State to do
S corporation shareholders, partners,
Tax withheld on California source payments
business in California or having no
members, and beneficiaries of estates and
is reported to the Franchise Tax Board (FTB)
permanent place of business in California.
trusts, are remitted in four specific periods.
using Form 592, Resident and Nonresident
• Partnerships or limited liability companies
Each period has a specific due date.
Withholding Statement. Form 592 includes a
(LLCs) with no permanent place of
The specific periods and due dates are:
Schedule of Payees section, on Side 2, that
business in California.
requires the withholding agent to identify
Due Date:
• Any trust without a resident grantor,
the payees, the income amounts, and the
January 1 through
beneficiary, or trustee, or estates where
withholding amounts. This schedule will allow
March 31, 2012 . . . . . . . . . . April 17, 2012
the decedent was not a California resident.
the FTB to allocate the withholding payments
April 1 through
• Foreign refers to non-U.S.
to the payee upon receipt of the completed
May 31, 2012 . . . . . . . . . . . . June 15, 2012
Form 592.
A Purpose
June 1 through
For taxable years beginning January 1,
August 31, 2012 . . . . September 17, 2012
Use Form 592 to report the total withholding
2010, use Form 592 to report resident and
under California Revenue and Taxation Code
nonresident withholding and use Form 592-V,
September 1 through
(R&TC) Sections 18662 and 18664. Use
Payment Voucher for Resident and
December 31, 2012 . . . . .January 15, 2013
Form 592-V, Payment Voucher for Resident
Nonresident Withholding, to submit resident
If the due date falls on a weekend, or legal
and Nonresident Withholding, to remit
and nonresident withholding payments when
holiday, use the next business day. Due to the
withholding payments relating to Form 592.
Form 592 is submitted electronically or by
Emancipation Day holiday on April 16, 2012,
The amount of resident and nonresident
mail. See General Information A, Purpose, for
tax returns filed and payments mailed or
withholding tax to be withheld shall be
more information.
submitted on April 17, 2012, will be considered
computed by applying a rate of 7% or such
When filing Form 592 with the FTB, the
timely.
lesser amount as authorized in writing by the
withholding agent is no longer required to
Send any payment due with Forms 592 and
FTB. Get Form 589, Nonresident Reduced
submit a Form 592-B, Resident and Nonresident
592-V to:
Withholding Request, for more information.
Withholding Tax Statement, to the FTB, for
WITHHOLDING SERVICES AND
Important:
each payee. However, withholding agents must
COMPLIANCE
continue to provide the payees with Form 592-B
• Form 592 is also used by pass-through
FRANCHISE TAX BOARD
at the end of the year which shows the total
entities to flow through withholding credit to
PO BOX 942867
amount withheld for that year.
their pass-through owners.
SACRAMENTO CA 94267-0651
• This form is also used to report withholding
Type of Income – For taxable years beginning
The withholding agent retains this form for a
payments for a resident payee.
January 1, 2010, you may select more than
minimum of four years and must provide it to
one type of income. This eliminates the need
The amount of backup withholding is
the FTB upon request.
to submit a separate Form 592 for each type of
computed by applying the rate of 7% to a
income.
10-Day Notification – California follows
reportable payment when federal backup
federal law, which requires that withholding
withholding is required (with certain limited
Backup Withholding – Beginning on or
agents notify foreign payees within 10 days
exceptions). There are no reductions or
after January 1, 2010, with certain limited
of any tax withheld. For California withholding
waivers for backup withholding. Backup
exceptions, payers that are required to
purposes, withholding agents should make a
withholding supersedes all types of
withhold and remit backup withholding to
similar notification to nonresident payees. No
withholding. For more information on backup
the Internal Revenue Service (IRS) are also
particular form is required for this notification,
withholding, go to ftb.ca.gov and search
required to withhold and remit to the FTB. The
and it is commonly done on the statement
backup withholding.
California backup withholding rate is 7% of the
accompanying the distribution or payment.
payment. For California purposes, dividends,
Do not use Form 592 if you are the buyer or
However, the withholding agent may choose
interests, and any financial institutions release
escrow person withholding on the sale of real
to report the tax withheld to the payee on a
of loan funds made in the normal course of
estate. Use Form 593, Real Estate Withholding
Form 592-B.
business are exempt from backup withholding.
Tax Statement, and Form 593-V, Payment
For additional information on California backup
Voucher for Real Estate Withholding, to report
D Amending Form 592
withholding, go to ftb.ca.gov and search for
and remit real estate withholding.
Amended forms can only be filed by the
backup withholding.
Do not use Form 592 to report tax withheld
withholding agent. To amend Form 592:
• Backup withholding is required on a
on foreign partners. For more information
• Complete a new Form 592 with the correct
reportable payment when federal backup
regarding reporting tax withheld on foreign
withholding is required (with certain limited
information.
partners, get Form 592-A, Payment Voucher
• Check the “Amended” box at the top of the
exceptions). There is no set minimum
for Foreign Partner or Member Withholding,
revised form.
threshold.
and Form 592-F, Foreign Partner or Member
• Include a letter explaining what changes
• Withholding, excluding backup withholding,
Annual Return.
were made and why.
is optional, at the discretion of the withhold-
B Common Errors/Helpful Hints
ing agent, on the first $1,500 in payments
• Send the amended form and letter to the
address listed under General Information C,
made during the calendar year. Withholding
If you are filing Form 592 only to flow through
When and Where to File.
must begin as soon as the total payments
withholding credits to your S corporation
of California source income for the calendar
shareholders, partners, members, or
E Electronic Filing Requirements
year exceed $1,500.
beneficiaries, enter your information in
Part I as the withholding agent. Do not enter
For California withholding purposes:
Form 592 information must be filed with the
the name or ID number of the entity which
FTB electronically, using FTB’s Secure Web
• Nonresident includes all of the following:
originally withheld payments from you.
Internet File Transfer (SWIFT), instead of paper
• Individuals who are not residents of
when the number of payees on Form 592 is
C When and Where to File
California.
250 or more. However, withholding agents
must continue to provide payees with
The tax withheld on payments to independent
Forms 592-B.
contractors, recipients of rents and royalties,
Form 592 Instructions 2011 Page 1
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