Instructions For Form 400-I - Fiduciary Income Tax Return Instructions - 2013

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DELAWARE
FIDUCIARY INCOME TAX RETURN INSTRUCTIONS
FORM 400-I
FOR TAX YEAR 2013
GENERAL INSTRUCTIONS
REQUIREMENTS TO FILE ESTIMATED TAX:
If the fair market value of the assets of a resident or non-resident
WHO MUST FILE RETURNS:
trust, for any taxable year, equals or exceeds $1 million, the
trust is required to file estimated tax declarations (Forms 400-ES)
A Delaware Fiduciary Return, Form 400, must be filed by:
for the subsequent taxable year.
Every resident estate or trust (as defined in Section 1601,
Title 30, Delaware Code), which is required to file a federal
PENALTIES AND INTEREST:
income tax return for the taxable year or would be required
to file a federal income tax return if the additions provided
INTEREST - Any underpayment or late payment of income
under Title 30, Delaware Code § 1106 were included in its
taxes due shall accrue interest at a rate of one-half percent
federal gross income, and
½
(
%) per month, or fraction of a month, from the date
Every non-resident estate or trust which has income from
prescribed for payments to the date paid.
sources within this State and which is required to file a
federal income tax return for the taxable year or would be
PENALTY - LATE FILING OF BALANCE DUE RETURN - Late­
required to file a federal income tax return if the additions
filed returns with a balance due are subject to a penalty of five
provided under Title 30, Delaware Code § 1106 were
percent (5%) per month of the balance due.
included in its federal gross income, and
Every resident or non-resident estate or trust which has
PENALTY - FAILURE TO PAY - A penalty of one percent (1%)
income from a S-Corporation or other pass-through entity
per month, not to exceed twenty five percent (25%), is imposed
derived from sources within this state.
for the failure to pay (in whole or in part) the tax liability shown
to be due on a timely filed return.
The return shall be filed by the trustee of the trust, or the
executor, administrator, or personal representative of the
P E N A LT Y- N E G L I G E N C E / F R A U D / S U B S TA N T I A L
decedent.
UNDERPAYMENT - The State of Delaware imposes severe
penalties for filing a false or fraudulent return, or falsely
The final personal income tax return of a deceased individual
certifying a return. Any Delaware return reporting erroneous
shall be filed by the executor, administrator, or other person
figures from a corresponding Federal return will still receive
charged with the care of his property.
penalties for negligence or for filing a false or fraudulent return.
WHEN AND WHERE TO FILE:
AMENDED RETURNS:
Fiduciary Income Tax Returns are due on or before April 30th
If the amount of a taxpayer’s Federal tax liability reported on
following the close of the taxable year for all taxpayers filing on
his Federal Fiduciary Income Tax Return is changed or
a calendar year basis. All others must file by the last day of the
corrected by the Internal Revenue Service for any taxable year,
fourth month following the close of the fiscal year.
the taxpayer is required to report to the Division of Revenue
such change within ninety (90) days after the final determination
Returns should be mailed to the Delaware Division of Revenue,
of such change or correction, and indicate his agreement with
P.O. Box 2044, Wilmington, Delaware 19899-2044. Payments
such determination or the grounds for his disagreement. This
may be made by check or money order made payable to the
may be done by filing an amended return and attaching a copy
Delaware Division of Revenue. Do not send cash by mail. The
of the Federal adjustment.
full balance is payable with the return.
SIGNATURE:
EXTENSION OF TIME TO FILE:
The return must be signed by the individual fiduciary or an
Taxpayers desiring an automatic extension of time to file income
authorized officer of a corporate fiduciary. If two or more
tax returns are required to file Form 400-EX, entitled
individuals or corporations act jointly as fiduciaries, the return
“Application for Automatic Extension to File Delaware
may be signed by either fiduciary.
Fiduciary Income Tax Return”. The automatic extension is
th
to October 15
. The application must be filed with the Division
SPECIFIC INSTRUCTIONS
of Revenue on or before the original due date of the return
th
(April 30
), along with payment of any balance of estimated tax
IDENTIFICATION:
liability due for the year. Any unpaid balance will be subject to
½
interest at one-half percent (
%) per month, or fraction of a
Please type or print the name of the estate or trust and the
month, from the original due date of the return until paid.
name and address of the fiduciary. Enter the Federal Employer
Identification Number and the Trust Number, if any, to assure
th
Application for further extension of time beyond October 15
accurate crediting to the proper account.
shall be made by filing a photocopy of your approved Federal
Fiduciary Extension before the expiration of the automatic
FILING STATUS:
extension granted on Form 400-EX. A photocopy of the
approved Federal extension must be attached to the return
You must check the appropriate box to indicate whether this is
when filed. The approved Federal extension will extend the
a return for a resident or non-resident estate or trust.
due date of your Delaware return to the same date as your
Federal extension due date.
Page 1

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