Form 541-T - California Allocation Of Estimated Tax Payments For Beneficiaries - 2012 Page 2
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1
2Instructions 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
D When to File
Column (c) – Beneficiary’s identifying number
For each beneficiary who is an individual, enter
Registered Domestic Partners (RDP)
For the election to be valid, a trust or
the SSN or ITIN . For all other entities, enter the
For purposes of California income tax,
decedent’s estate must file Form 541-T by the
federal employer identification number (FEIN) .
references to a spouse, husband, or wife also
65th day after the close of the taxable year as
Failure to enter a valid SSN/ITIN or FEIN may
refer to a California registered domestic partner
shown at the top of the form . If the due date
cause a delay in processing and could result in
(RDP), unless otherwise specified . When
falls on a weekend or holiday, the deadline to
the imposition of penalties on the beneficiary .
we use the initials RDP they refer to both a
file is extended to the next business day . For a
For those beneficiaries who file a joint income
California registered domestic “partner” and a
calendar year trust, the due date is on or before
tax return, you can assist the Franchise Tax
California registered domestic “partnership,” as
March 6, 2013.
Board in crediting the proper account by
applicable . For more information on RDPs, get
providing the SSN or ITIN, if known, of the
E Period Covered
FTB Pub . 737, Tax Information for Registered
beneficiary’s spouse/RDP . However, this is an
Domestic Partners .
File Form 541-T for calendar year 2012 and
optional entry .
Private Mail Box (PMB)
fiscal years beginning in 2012 . If the form
Column (d) – Amount of estimated tax
Include the PMB in the address field . Write
is for a fiscal year or a short year, enter the
payment allocated to beneficiary
“PMB” first, then the box number .
taxable year in the space at the top of the form .
For each beneficiary, enter this amount on
Example: 111 Main Street PMB 123 .
Schedule K-1 (541), Beneficiary’s Share of
F Internet Access
Income, Deductions, Credits, etc ., line 13a .
A Purpose
You can download, view, and print California
Column (e) – Proration percentage
A trust or, for its final year, a decedent’s
tax forms and publications at ftb.ca.gov .
For each listed beneficiary, divide the amount
estate may elect under California Revenue
Access other California state agency websites
shown in column (d) by the amount shown on
and Taxation Code Section 17731 and Internal
at ca.gov .
line 1 and enter the result as a percentage .
Revenue Code Section 643(g) to have any part
Line 3
Specific Line Instructions
of its estimated tax payments treated as made
If you are allocating a payment of estimated
by a beneficiary or beneficiaries . The trustee or
Line 1
tax to more than 10 beneficiaries, list the
fiduciary files Form 541-T, California Allocation
Enter the amount of the estimated tax
additional beneficiaries on an attached sheet
of Estimated Tax Payments to Beneficiaries, to
payments made by the trust or decedent’s
that follows the format of line 2 . Enter on line 3
make the election . Once made, the election is
estate that the fiduciary elects to treat as
the total from the attached sheets . Include the
irrevocable .
a payment made by the beneficiaries . This
fiduciary name and SSN/ITIN or FEIN on the
Do not distribute resident and nonresident real
amount is treated as if paid or credited to the
attached sheets .
estate withholding, or backup withholding to
beneficiaries on the last day of the taxable year
beneficiaries on Form 541-T . Use Forms 592,
of the trust or decedent’s estate . Be sure to
Resident and Nonresident Withholding
include the amount on Form 541, Schedule B,
Statement, and 592-B, Resident and
Income Distribution Deduction, line 10 .
Nonresident Withholding Tax Statement, to
Line 2
allocate withholding .
Column (b) – Beneficiary’s name and address
B How to File
Group the beneficiaries to whom you are
allocating estimated tax payments into two
File Form 541-T separately from Form 541,
categories . In the first category, list all the
California Fiduciary Income Tax Return . Do not
individual beneficiaries who have a social
attach Form 541-T to Form 541 .
security number (SSN) or individual taxpayer
C Where to File
identification number (ITIN) . In the second
category, list all the other beneficiaries .
Mail Form 541-T to:
FRANCHISE TAX BOARD
PO BOX 942840
SACRAMENTO CA 94240-0001
Form 541-T Instructions 2012 Page 1
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