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2014 Instructions for Form 541-T

California Allocation of Estimated Tax Payments to Beneficiaries

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 Instructions

C Where to File

Column (c) – Beneficiary’s identifying number

For each beneficiary who is an individual, enter

Registered Domestic Partners (RDP)

Mail Form 541-T to:

the SSN or ITIN . For all other entities, enter the

For purposes of California income tax,

FRANCHISE TAX BOARD

federal employer identification number (FEIN) .

references to a spouse, husband, or wife also

PO BOX 942840

Failure to enter a valid SSN/ITIN or FEIN may

refer to a California RDP, unless otherwise

SACRAMENTO CA 94240-0001

cause a delay in processing and could result in

specified . When we use the initials RDP they

the imposition of penalties on the beneficiary .

D When to File

refer to both a California registered domestic

For those beneficiaries who file a joint income

“partner” and a California registered domestic

tax return, you can assist the Franchise Tax

For the election to be valid, a trust or

“partnership,” as applicable . For more

Board in crediting the proper account by

decedent’s estate must file Form 541-T by the

information on RDPs, get FTB Pub . 737, Tax

providing the SSN or ITIN, if known, of the

65th day after the close of the taxable year as

Information for Registered Domestic Partners .

beneficiary’s spouse/RDP . However, this is an

shown at the top of the form . If the due date

Additional Information

optional entry .

falls on a weekend or holiday, the deadline to

Use the Additional Information field for

file is extended to the next business day . For a

Column (d) – Amount of estimated tax

“In-Care-Of” name and other supplemental

calendar year trust, the due date is on or before

payment allocated to beneficiary

address information only .

March 6, 2015.

For each beneficiary, enter this amount on

Foreign Address

Schedule K-1 (541), Beneficiary’s Share of

E Period Covered

If the estate or trust has a foreign address

Income, Deductions, Credits, etc ., line 13a .

enter the city, foreign country name, foreign

File Form 541-T for calendar year 2014 and

Column (e) – Proration percentage

province/state/county name, and foreign

fiscal years beginning in 2014 . If the form

For each listed beneficiary, divide the amount

postal code in the appropriate boxes . Do not

is for a fiscal year or a short year, enter the

shown in column (d) by the amount shown on

abbreviate the foreign country name . Follow

taxable year in the space at the top of the form .

line 1 and enter the result as a percentage .

the country’s practice for entering the

Line 3

F Internet Access

province/state/county name and foreign postal

If you are allocating a payment of estimated

code .

You can download, view, and print California

tax to more than 10 beneficiaries, list the

A Purpose

tax forms and publications at ftb.ca.gov .

additional beneficiaries on an attached sheet

that follows the format of line 2 . Enter on line 3

Access other California state agency websites

A trust or, for its final year, a decedent’s

the total from the attached sheets . Include the

at ca.gov .

estate may elect under California Revenue

fiduciary name and SSN/ITIN or FEIN on the

and Taxation Code Section 17731 and Internal

Specific Line Instructions

attached sheets .

Revenue Code Section 643(g) to have any part

Line 1

of its estimated tax payments treated as made

Enter the amount of the estimated tax

by a beneficiary or beneficiaries . The trustee or

payments made by the trust or decedent’s

fiduciary files Form 541-T, California Allocation

estate that the fiduciary elects to treat as

of Estimated Tax Payments to Beneficiaries, to

a payment made by the beneficiaries . This

make the election . Once made, the election is

amount is treated as if paid or credited to the

irrevocable .

beneficiaries on the last day of the taxable year

Do not distribute resident and nonresident real

of the trust or decedent’s estate . Be sure to

estate withholding, or backup withholding to

include the amount on Form 541, Schedule B,

beneficiaries on Form 541-T . Use Form 592,

Income Distribution Deduction, line 10 .

Resident and Nonresident Withholding

Statement, and Form 592-B, Resident and

Line 2

Nonresident Withholding Tax Statement, to

Column (b) – Beneficiary’s name and address

allocate withholding .

Group the beneficiaries to whom you are

allocating estimated tax payments into two

B How to File

categories . In the first category, list all the

File Form 541-T separately from Form 541,

individual beneficiaries who have a social

California Fiduciary Income Tax Return . Do not

security number (SSN) or individual taxpayer

attach Form 541-T to Form 541 .

identification number (ITIN) . In the second

category, list all the other beneficiaries .

Form 541-T Instructions 2014 Page 1

Form 541-T - California Allocation Of Estimated Tax Payments To Beneficiaries - 2014 Page 2

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