California Form 3725 - Assets Transferred From Parent Corporation To Insurance Company Subsidiary - 2012 Page 2
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2Section C – Long-Term Capital Gains and Losses-Assets Held More Than One Year. Use additional sheets if necessary .
(a)
(b)
(c)
(d)
(e)
(f)
Taxable year
Description of
Date of disposal
Fair market value
Cost or
Gain (loss)
property
(mo ., day, yr .)
or gross sales price
other basis
(d) less (e)
9
0 Long-term capital gains (losses). Total amounts in column (f) . Enter here and on Form 100 or Form 100W, Side 5,
Schedule D, Part II, line 5, column (f) or Schedule D (100S), Section A or Section B, Part II, line 4, column (f) .
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
General Information
by a common parent corporation (or chains
Part II – Assets Transferred
of corporations connected through the
from Insurance Company to
A Purpose
common parent) or by members of the
same family, see R&TC Section 25105 .
Other Companies
Use form FTB 3725, Assets Transferred from
Also, a commonly controlled group includes
Parent Corporation to Insurance Company
corporations that are stapled entities,
Section B – Short-Term Capital Gains
Subsidiary, to track the assets transferred from
see R&TC Section 25105(b)(3) . Special
a parent corporation to an insurance company
and Losses- Assets Held One Year or
rules are provided in R&TC Section 25105
subsidiary . In addition, use this form to figure
for partnerships, trusts, and transfers of
Less and
capital gains (losses) if the parent corporation
voting power by proxy, voting trust, written
Section C – Long-Term Capital Gains
transferred assets to an insurance company
shareholder agreement, etc .
and Losses-Assets Held More Than
subsidiary beginning on or after June 23 2004 .
Specific Line Instructions
One Year
California Revenue and Taxation Code (R&TC)
Section 24465 provides that when a parent
Part I – Assets Transferred
Report short-term or long-term capital gains
corporation transfers appreciated property
(losses) based on the length of time the parent
from Parent Corporation to
to an insurance company subsidiary, the
corporation held the assets .
gain is deferred if the property transferred to
Insurance Company Subsidiary
Line 7 and Line 9, column (b) – Description of
the insurer is used in the active conduct of
property. Describe the assets that the insurance
a trade or business of the insurer . The gain
company sells to another company; or the
Section A – Information on
must be recognized as income if any of the
transferred assets that the insurance company
following apply:
Properties Transferred
does not use in its active trade or business .
• The transferred property is no longer owned
Line – Enter the insurance company’s California
Line 7 and Line 9, column (d) – Fair market
by an insurer in the taxpayer’s commonly
corporation number or federal employer
value or gross sales price. Enter the FMV of the
controlled group (or a member of the
identification number (FEIN) . If the insurance
assets as of the date that the insurance company
taxpayer’s combined reporting group) .
company does not have one of these numbers,
no longer uses the assets in its active trade or
• The property is no longer used in the active
enter “not applicable” and continue with line 2 .
business . Or, enter the gross sales price of the
conduct of the insurer’s trade or business (or
assets if the insurance company sells the assets
the trade or business of another member in
Section B – Deferred Capital Gains
to another company .
the taxpayer’s combined reporting group) .
Line 3, column (b) – Description of property.
• The holder of the property is no longer held
Line 8 – Short-term capital gains (losses). Total
Describe the assets the parent corporation
by an insurer in the commonly controlled
amounts in column (f) . Enter total short-term
transferred to an insurance company subsidiary .
group of the transferor (or a member of the
capital gains (losses) here and on Form 100 or
taxpayer’s combined reporting group) .
Form 100W, Side 5, Schedule D, Part I, line 1,
Line 3, column (e) – Fair market value at date of
column (f) or Schedule D (100S), Section A or
transfer. FMV is the price that the property would
R&TC Section 24465 applies to transactions
Section B, Part I, line 1, column (f) . Write on
sell for in the open market .
entered into on or after June 23, 2004 .
Schedule D, under column (a) Description of
Line 3, column (f) – Cost or other basis. In
B Definitions
property: “FTB 3725” and attach a copy of form
general, the cost or other basis is the cost of
FTB 3725 to the tax return .
the property plus purchase commissions and
1 . Appreciated property – Appreciated property
Line 0 – Long-term capital gains (losses).
improvements minus depreciation, amortization,
means property whose fair market value
Total amounts in column (f) . Enter total long-term
and depletion . Enter the cost or adjusted basis of
(FMV), as of the date of the transfer, exceeds
capital gains (losses) here and on Form 100 or
the asset for California purpose .
its adjusted basis as of that date .
Form 100W, Side 5, Schedule D, Part II, line 5,
2 . Commonly controlled group – Commonly
column (f) or Schedule D (100S), Section A or
controlled group exists when stock
Section B, Part II, line 4, column (f) . Write on
possessing more than 50% of the voting
Schedule D, under column (a) Description of
power is owned, or constructively owned,
property: “FTB 3725” and attach a copy of form
FTB 3725 to the tax return .
Side 2
FTB 3725 2012
7432123
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