Instructions For Form Ftb 3805p - Additional Taxes On Qualified Plans (Including Iras) And Other Tax-Favored Accounts - 2013

ADVERTISEMENT

Instructions for Form FTB 3805P
Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2009, and to the California Revenue and Taxation Code (R&TC).
General Information
Federal law does not recognize RDPs; therefore there may be additional tax on
early distributions for federal purposes, but not for California purposes. For more
In general, for taxable years beginning on or after January 1, 2010, California law
information on RDPs, get FTB Pub. 737.
conforms to the Internal Revenue Code (IRC) as of January 1, 2009. However,
IRA Contributions. Do not file form FTB 3805P to report a deduction
there are continuing differences between California and federal law. When
for contributions to your IRA or Keogh plan. See the instructions for
California conforms to federal tax law changes, we do not always adopt all of the
Schedule CA (540), California Adjustments — Residents, or Schedule CA (540NR),
changes made at the federal level. For more information, go to ftb.ca.gov and
California Adjustments — Nonresidents or Part-Year Residents.
search for conformity. Additional information can be found in FTB Pub. 1001,
If you made a nondeductible IRA or Keogh contribution in prior years, get FTB
Supplemental Guidelines to California Adjustments, the instructions for California
Pub. 1005, Pension and Annuity Guidelines, for information on how to compute
Schedule CA (540 or 540NR), and the Business Entity tax booklets.
the taxable portion of your IRA distribution that is subject to the additional tax.
The instructions provided with California tax forms are a summary of California
tax law and are only intended to aid taxpayers in preparing their state income
C When and Where to File
tax returns. We include information that is most useful to the greatest number
of taxpayers in the limited space available. It is not possible to include all
If you are required to file a 2013 Form 540, California Resident Income Tax Return,
requirements of the California Revenue and Taxation Code (R&TC) in the tax
or Long Form 540NR, California Nonresident or Part-Year Resident Income Tax
booklets. Taxpayers should not consider the tax booklets as authoritative law.
Return, you must attach your 2013 form FTB 3805P to your tax return.
California does not conform to federal legislation that enacted Health Savings
If you are not required to file Form 540 or Long Form 540NR, but have to file
Accounts (HSAs) beginning January 1, 2004.
form FTB 3805P as described in General Information B, Who Must File, you
must still complete and file this form with the Franchise Tax Board (FTB) by the
Early Distributions Not Subject to Additional Tax
due date for filing Form 540 or Long Form 540NR. If you meet the requirements
California conforms to the exceptions from the penalty on early withdrawals
of the Mandatory e-Pay program, you must make all payments electronically,
from retirement plans for qualified distributions made after September 11, 2001
regardless of the tax year or amount. Go to ftb.ca.gov and search for mandatory
to reservists while serving on active duty for at least 180 days and for qualified
epay. Send your completed form FTB 3805P and your check or money order
distributions made after August 17, 2006, to public safety employees after separation
payable to the “Franchise Tax Board” for the total of any taxes due. Write your
from service after age 50. If you received one or more of these distributions and were
social security number (SSN) or individual taxpayer identification number (ITIN)
assessed a penalty you may amend your returns to claim a refund.
and “2013 FTB 3805P” on your check or money order. Make all checks or money
Registered Domestic Partners (RDP)
orders payable in U.S. dollars and drawn against a U.S. financial institution.
For purposes of California income tax, references to a spouse, husband, or wife
Mail to: FRANCHISE TAX BOARD
also refer to a California RDP unless otherwise specified. When we use the initials
PO BOX 942867
RDP they refer to both a California registered domestic “partner” and a California
SACRAMENTO CA 94267-0001
registered domestic “partnership,” as applicable. For more information on RDPs,
get FTB Pub. 737, Tax Information for Registered Domestic Partners.
If you are paying tax for a previous year, you must complete that taxable year’s
version of form FTB 3805P. If you have filed your Form 540 or Long Form 540NR
A Purpose
for the previous year and you have no adjustments to income that require you to
file Form 540X, Amended Individual Income Tax Return, file only form FTB 3805P.
Use form FTB 3805P, Additional Taxes on Qualified Plans (Including IRAs) and
If you are filing form FTB 3805P separately from Form 540, Long Form 540NR,
Other Tax-Favored Accounts, to report any additional tax you may owe on an early
or Form 540X, you must sign form FTB 3805P. Include a check or money order
distribution from an individual retirement account (IRA), other qualified retirement
payable to the “Franchise Tax Board” for the total amount of any tax due. Write
plan, annuity, modified endowment contract, or medical savings account (MSA).
your SSN or ITIN and “2013 FTB 3805P” on your check or money order. Make all
B Who Must File
checks or money orders payable in U.S. dollars and drawn against a U.S. financial
institution. Mail to the address shown above.
You must file form FTB 3805P if you:
D Definitions
Received an early taxable distribution from a qualified retirement plan and a
distribution code other than 2, 3, or 4 is shown in box 7 of federal Form 1099-R,
Qualified Retirement Plan – A qualified retirement plan includes:
Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs,
A qualified pension, profit-sharing, or stock bonus plan.
Insurance Contracts, etc.
A Keogh plan.
Owe tax on early distributions from your IRA, other qualified retirement
A qualified cash or deferred arrangement (CODA) described in IRC
plan, annuity, or modified endowment contract, and you incorrectly have an
Section 401(k).
exception code in box 7 of federal Form 1099-R.
A qualified annuity plan.
Owe a tax because you received distributions from a Coverdell Education
A tax-sheltered annuity contract.
Savings Account (ESA) in excess of amounts you spent for educational
An individual retirement account or an individual retirement annuity.
expenses (complete Part II).
Received taxable distributions from an Archer MSA.
Coverdell ESAs and Archer MSAs are not qualified retirement plans.
Meet an exception to the tax on early distributions and distribution code 2, 3,
Traditional IRA – An individual retirement account or an individual retirement
or 4 is NOT shown or is incorrect on federal Form 1099-R. (You must file even
annuity described in IRC Sections 408(a) and (b), including a simplified employee
if you do not owe any tax.)
pension (SEP) IRA, but not including a SIMPLE IRA or a Roth IRA.
You do not have to file form FTB 3805P if you:
SEP IRA – An employer-sponsored plan under which an employer can make
Rolled over the taxable part of all distributions you received during the year
contributions to IRAs established for its employees. The term SEP IRA means an
into another qualified plan within 60 days of receipt.
IRA that receives contributions made under a SEP. The term SEP includes a salary
Received an early distribution from your plan but meet an exception to the tax
reduction described in IRC Section 408(k)(6).
(distribution code 2, 3, or 4 must be correctly shown on federal Form 1099-R).
SIMPLE IRA – A written arrangement established under IRC Section 408(p) that
California and federal laws are generally the same for the tax on early distributions
provides a simplified tax-favored retirement plan for small employers. A SIMPLE
except for the rate of tax assessed. California does not conform to all of the
IRA can be an individual retirement account or an individual retirement annuity.
federal exceptions to the additional tax on early distributions. The amount of an
IRA or Keogh distribution included in income may differ for state and federal
Roth IRA – An IRA that meets the requirements of IRC Section 408A. Generally, for
tax purposes. Also, California does not have taxes similar to the tax on excess
purposes of this form, the same rules that apply to traditional IRAs apply to Roth
contributions to traditional IRAs, tax on excess contributions to Roth IRAs, tax
IRAs. For additional information about Roth IRAs, get federal Publication 590,
on excess contributions to Coverdell ESAs, tax on excess contributions to Archer
Individual Retirement Arrangements (IRAs), federal Form 8606, Nondeductible
MSAs, or tax on excess accumulation in qualified retirement plans.
IRAs, and FTB Pub. 1005.
Such federal taxes are figured on federal Form 5329, Additional Taxes on Qualified
Early Distributions – Generally, any distribution from your qualified retirement
Plans (Including IRAs) and Other Tax-Favored Accounts.
plan, annuity, or modified endowment contract that you receive before you reach
Joint Returns. Each spouse/RDP must complete a separate form FTB 3805P for
age 59½ is an early distribution. The portion of the early distribution that is
taxes attributable to his or her distribution from a qualified retirement plan as
included in income is subject to an additional 2½% tax. (If the early distribution is
described above. If both spouses/RDPs owe a tax on early distributions, enter the
from a SIMPLE retirement plan received during the first two-year period beginning
combined tax from both forms on Form 540, line 63 or Long Form 540NR, line 73.
FTB 3805P Instructions 2013 Page 1

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go
Page of 3