California Form 593-I - Real Estate Withholding Installment Sale Acknowledgement - 2014

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Real Estate Withholding Installment
YEAR
CALIFORNIA FORM
2014
Sale Acknowledgement
593-I
(This form should only be completed by the buyer. )
Part I – Buyer
First name
Initial Last name
SSN or ITIN
- -
Spouse’s/RDP’s first name (if jointly purchased)
Initial Last name
Spouse’s/RDP’s SSN or ITIN
- -
 FEIN
 CA Corp no.  CA SOS file no.
Business name (if applicable)
Address (apt./ste., room, PO Box, or PMB no.)
City (If you have a foreign address, see instructions.)
State ZIP Code
Daytime telephone number
-
-
(
)
Part II – Seller or Transferor
First name
Initial Last name
SSN or ITIN
- -
Spouse’s/RDP’s first name (if jointly sold)
Initial Last name
Spouse’s/RDP’s SSN or ITIN
- -
 FEIN
 CA Corp no.  CA SOS file no.
Business name (if applicable)
Address (apt./ste., room, PO Box, or PMB no.)
City (If you have a foreign address, see instructions.)
State
ZIP Code
Installment Withholding Percent
Apply this percent
-
to all installment
____ ____ . ____ ____%
payments.
Property address (if no street address, provide parcel number and county)
Part III –
Installment Agreement Terms See instructions.
Principal Amount of Promissory Note
Installment Amount
Interest Rate
Repayment Period
.
.
.
,
,
,
,
Number of months
%
Part IV –
Buyer’s Acknowledgement to Withhold (Read the “Buyer” information below before you sign.)
I acknowledge that I am required to withhold on the principal portion of each installment payment to the seller or transferor for the above shown California real
property either at the rate of 3
/
% (.0333) of the total sales price or the Optional Gain on Sale withholding percentage, as specified by the seller or transferor
1
3
on Form 593, Real Estate Withholding Tax Statement, of the principal portion of each installment payment. I will complete Form 593 for the principal portion
of each installment payment and send one copy of each to the Franchise Tax Board along with Form 593-V, Payment Voucher for Real Estate Withholding, the
withholding payment, and give one copy of Form 593 to the seller or transferor. I will send each withholding payment to the Franchise Tax Board by the 20th day
of the month following the month of the installment payment. If the terms of the installment sale, promissory note, or payment schedule change, I will promptly
inform the Franchise Tax Board. I understand that the Franchise Tax Board may review relevant escrow documents to ensure withholding compliance. I also
understand that I am subject to withholding penalties if I do not withhold on the principal portion of each installment payment and do not send the withholding
along with Form 593 to the Franchise Tax Board by the due date, or if I do not send one copy of Form 593 to the seller or transferor by the due date.
Print name and title _____________________________________________________________________________________________________________
Buyer’s signature
_________________________________________________________________________________ Date _______________________
Buyer’s spouse’s/RDP’s name (if on title) _____________________________________________________________________________
It is unlawful to forge
Buyer’s spouse’s/RDP’s signature (if applicable) ___________________________________________ Date
_________________________
a spouse’s/RDP’s
signature.
Buyer:
Make sure you copy all pages so you will have the instructions for withholding on subsequent payments. Provide the original Form 593-
I
,
along with copies of the promissory note and seller’s or transferor’s certified Form 593, to your real estate escrow person (REEP), who will
mail the forms and remit the payment to the Franchise Tax Board. Your REEP will withhold on the principal portion of the first installment
payment. You must withhold on the principal portion of all subsequent installment payments (including payoff or balloon payments).
Complete Form 593 and Form 593-V, and mail the documents and payment to the Franchise Tax Board for the principal portion of each
installment payment.
Seller or
Transferor:
Make a copy of this form for your records.
I
Make a copy of this form for your records. Mail Form 593-V, the original Form 593-
, a copy of the promissory note, and seller’s or
REEP:
transferor’s certified Form 593 to the Franchise Tax Board with the required amount of the first installment payment.
Form 593-
2013
7141143
I
C2
For Privacy Notice, get FTB 1131ENG/SP.

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