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4905Be Form – Fill Out and Use

The 4905Be Form is a tax form used by many companies. It gathers information about how much you paid to employees during the year, and it must be signed before April 15 of every year.

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Ftb Ca Oic Details

In this blog post, we will be going over the new 5th edition of the 4905Be form. This form is compiled by the IRS and can be found on their website. The purpose of this form is to report any changes in your income or deductions from last year. It has a lot of information about who needs to file, how long it takes for a filing status change to occur, and what you need before you start filling out the form. This article provides helpful guidelines as well as an example that shows how to complete parts of the document correctly so that you know exactly where everything goes without having any questions afterwards.

The listing includes details about the 4905be form. It's going to present you with the likely time it may require you to prepare the form and some additional details.

Question	Answer
Form Name	4905Be Form
Form Length	16 pages
Fillable?	Yes
Fillable fields	748
Avg. time to fill out	38 min 25 sec
Other names	ca ftb 4905 form, california ftb offer in compromise, 4905be, 4905be compromise

Form Preview Example

STATE OF CALIFORNIA

Franchise Tax Board

4905BE Booklet

Offer In Compromise

for Business Entities

What you should know before preparing an Offer in Compromise

Are you an OIC	If your business entity does not have the income, assets, or means to pay your
Candidate?	tax liability now or in the foreseeable future, it may be a candidate. The Offer in
	Compromise program allows an entity to offer a lesser amount for payment of a
	non-disputed ﬁnal tax liability.
	Generally, we approve an Offer in Compromise when the amount offered represents
	the most we can expect to collect within a reasonable period of time.
	Although each case is evaluated based on its own unique set of facts and
	circumstances, we give the following factors strong consideration in the evaluation:
	• Ability to pay
	• Equity in the entity’s assets
	• Present and future income
	• Present and future expenses
	• The potential for changed circumstances
	• The offer is in the best interest of the state
Can We	We will only process the Offer in Compromise application if you:
Process Your
Application?	• Filed all of the required tax returns. If you have no ﬁling requirement, note it on the
	application.
	• Fully completed the Offer in Compromise application, and provided all supporting
	documentation.
	• Agree with the Franchise Tax Board on the amount of tax you owe.
Will a Collateral	Upon approval, we may require the entity to enter into a collateral agreement for a
Agreement be	term of ﬁve years. Generally, a collateral agreement will be required in cases when the
Required?	entity has signiﬁcant potential for increased earnings. A collateral agreement requires
	a business entity to pay to us a percentage of future earnings that exceed an agreed
	upon threshold.
Is Collection Activity	Submitting an offer does not automatically suspend collection activity. In most cases,
Suspended?	collection action will be suspended until the Offer in Compromise evaluation is
	completed. If delaying collection activity jeopardizes our ability to collect the tax, we
	may continue with collection efforts.
When Should	Do not submit the offered funds until we request them. When we do ask for the funds,
Offered Funds	submit them by cashiers check or money order. We are unable to accept installment
be Submitted?	payments.

FTB 4905BE C1 (REV １０-20１３)

STATE OF CALIFORNIA		OFFER IN COMPROMISE APPLICATION
OFFER IN COMPROMISE GROUP		To be returned
FRANCHISE TAX BOARD	MS A453	To be returned
FRANCHISE TAX BOARD	MS A453
PO BOX 2966
RANCHO CORDOVA CA	95741-2966

The following documentation must be submitted with your Offer in Compromise Application or your application may be returned as incomplete. Please submit copies only. We will not return any documents that you send us. Indicate if any of the items below are not applicable. Additional documentation may be required and requested as the evaluation of the Offer in Compromise proceeds.

Check List of Required Items

□Business Entity Offer in Compromise Finanical Statement, FTB form 4905 FS. (included in this booklet)

□Bank Information:

฀	฀	ｳ฀	Ｃｏｍｐｌｅｔｅ฀ｂａｎｋ฀ｓｔａｔｅｍｅｎｔｓ฀ｆｏｒ฀ａｌｌ฀ａｃｃｏｕｎｔｓ฀ｈｅｌｄ฀ｆｏｒ฀ｔｈｅ฀ｐａｓｔ฀ｔｗｅｌｖｅ฀ｍｏｎｔｈｓ．
฀	฀	ｳ฀	Ｆｉｎａｌ฀ｓｔａｔｅｍｅｎｔｓ฀ｆｏｒ฀ａｎｙ฀ａｃｃｏｕｎｔｓ฀ｃｌｏｓｅｄ฀ｗｉｔｈｉｎ฀ｔｈｅ฀ｐａｓｔ฀ｔｗｏ฀ｙｅａｒｓ．

□

Current Lease or Rental Agreements, either as landlord or tenant.

Real Property Information

Mortgage statements and escrow statements for property the entity currently owns, sold, or gifted in the last ﬁve years.

□IRS Information

If applicable, copy of IRS OIC and acceptance letter or other IRS arrangements.

□Vehicle Information:

฀฀ ｳ฀ Ｃｏｐｉｅｓ฀ｏｆ฀ｌｏａｎ／ｌｅａｓｅ฀ｓｔａｔｅｍｅｎｔｓ฀ｆｏｒ฀ａｎｙ฀ｖｅｈｉｃｌｅｓ．

□Power of Attorney

Power of attorney if this offer is submitted by a designated representative.

Mail your completed and signed application to:

OFFER IN COMPROMISE GROUP

FRANCHISE TAX BOARD MS A453

PO BOX 2966

RANCHO CORDOVA CA 95741-2966

If you have questions other than those answered on the previous page of this booklet, contact the Offer in Compromise program at (916) 845-4787.

FTB 4905BE C1 (REV 10-2013)

State of California — Franchise Tax Board

Offer in Compromise Application (Continued)

			Date

Name of Business Entity			California Business Number

Address			Telephone Number

Name and Address of primary contact			Federal Employer ID Number (FEIN)
Telephone Number (	)	Title

Assumer’s Name and Address			California or Federal Identiﬁcation
			Number
Telephone Number (	)

Authorized representative (attach Power of Attorney)
Address
Telephone Number (	)

The undersigned submits this Offer in Compromise for payment of the California state tax liability shown below:

1.AMOUNT OWED

Tax Year(s)____________________________________________________

Amount Due __________________________________________________

Include tax, interest, and penalties.)

2.OFFER

The sum of $ ________________________________ is offered in compromise. We will instruct you when to pay the the offer amount. Do not send any funds now.

If this Offer in Compromise is denied, the Franchise Tax Board is to:

__________ Retain any amounts deposited and credit it to the undersigned’s liabilities.

__________ Return the amount deposited.

FTB 4905BE C1 (REV １０-20１３)

State of California — Franchise Tax Board

Offer in Compromise Application (Continued)

3. SOURCE OF FUNDS
a. Is all or part of the amount being offered a loan? □ Yes	□ No

If yes, please provide the following information and attach a copy of the loan agreement.

Amount borrowed $ __________________________________________

Name of lender ______________________________________________

Lender’s address ____________________________________________

Lender’s telephone number ____________________________________

b. Is all or part of the amount being offered a gift?	□ Yes	□ No
If yes, please provide the following information:

Amount of gift $______________________________________________

Name of donor ______________________________________________

Donor’s relationship to the entity_________________________________

c.Describe sources of offered funds other than those listed in a or b.

___________________________________________________________________________________________

4.OWNERSHIP

List any individual or corporate owners with 25% or more interest in this entity.

Name of Owner(s)% Owned

________________________________________________________________________________________________

(Attach a separate sheet scheduling any parent or subsidiary entity relationship.)

FTB 4905BE C1 (REV 10-2013)

State of California — Franchise Tax Board

Offer in Compromise Application (Continued)

5.BASIS FOR THE OFFER

The following facts and reasons are submitted as grounds for acceptance of this offer:

____________________________________________________________________________________________

(If more space is needed, please attach additional pages.)

6.It is understood that this offer will be considered and acted upon in due course and that it does not relieve the entity from the liability sought to be compromised unless and until the offer is accepted by the Franchise Tax Board and there has been full compliance with the terms of the agreement including any collateral agreement.

7.It is agreed that, except for any amounts deposited in connection with this offer, the Franchise Tax Board will keep all payments and other credits made to the account for the periods covered by this offer, and that the Franchise Tax Board will keep any and all amounts to which the entity may be entitled under the Revenue and Taxation Code, due through overpayments of any tax, penalty or interest, for any periods ending before the end of the calendar year in which this offer is accepted.

8.It is further agreed that upon notice to the entity of the acceptance of the offer, the entity shall have no right to contest in court or otherwise the amount of the liability sought to be compromised. No liability will be compromised until all obligations of the corporation under the compromise agreement or collateral agreement are completely performed. In the event of a default by the corporation on the collateral agreement, it is agreed that the Franchise Tax Board may disregard the amount of the offer and retain all amounts previously deposited under the offer and proceed to collect the balance of the original liability.

_________________________________________________________________________________________________

Under penalties of perjury, I declare that I have examined the information given in this statement and all other documents included with this offer and to the best of my knowledge and belief, it is (or they are) true, correct and complete.

Date of the Statement	Signature	Title
____________________________	_________________________________________	_______________________
____________________________	_________________________________________	_______________________

FTB 4905BE C1 (REV １０-20１３)

State of California ﾱ Franchise Tax Board

Business Entity Offer in Compromise Financial Statement

Please furnish the information requested on this form along with the Offer in Compromise. It is important that all questions are answered. If a question doeｖ＃ｑｒｗ＃ｄｓｓｏ｜／＃ｓｏｈｄｖｈ＃ｈｑｗｈｕ＃ｗｋｈ＃ｚｒｕｇ＃ﾳｑｒｑｈ１ﾴ＃Ｌｉ＃｜ｒｘ＃ｕｘｑ＃ｒｘｗ＃ｒｉ＃ｖｓｄｆｈ／＃ｓｏｈｄｖｈ＃ｄｗｗｄｆｋ＃ｄｇｇｌｗｌｒｑｄｏ＃ｓｄｊｈｖ＃＋ｚｕｌｗｈ＃｜ｒｘｕ＃ｈｑｗｌｗ｜ﾶｖ＃ｑｄｐｈ＃ｄｑｇ＃ｑｘｐｅｈｕ＃ｒｑ＃ｄｏｏ＃ｄｇｇｌｗｌｒｑｄｏ＃ｓｄｊｈｖ，１＃

1. Business Entity Information

Entity Name		Entity Number

DBA	Type of Business/Industry	FEIN

		SOS

Mailing Address	Physical Address	Telephone Number
		(	)

2. List of Entity Officers/General Partners/Managing Members

		Business Telephone
Name	Business Address	Number		Title
		(	)
		(	)
		(	)
		(	)

3a. Bank Accounts (List all types of accounts including payroll, checking, savings, certificates of deposits, etc.) held during the past three years. Please provide copies of bank statements for the last (or final) three months for every account held.

Instituion Name

Address

Type of Account

Routing Number

Account Number

Balance

Total ►

3b. Bank, Finance and Business Credit cards (Lines of credit)

Instituion Name

Address

Credit Limit

Amount Owed

Credit Available

Minimum Monthly Payments

Total ►

3c. Safe Deposit Boxes (List contents of all deposit boxes rented or accessed by your entity)

Instituion Name

Address

Box Number Contents

Estimated Market Value

Total ►

FTB 4905FS (NEW 01-2007) PAGE 1

Assets and Liabilities

Ｓｏｈｄｖｈ＃ｉｘｕｑｌｖｋ＃｜ｒｘｕ＃ｈｑｗｌｗ｜ﾶｖ＃most recent balance sheet and profit and loss statement. Include all interests in estates, trusts, and other property rights, including contingent interests and remainders.

4.	Statement of assets and liabilities as of ____/____/____
		(date)

a. Assets		Cost (less
a. Assets		depreciation	Fair Market Value

Cash

Cash surrender value of insurance (See item 5)
Accounts Receivables (See item 6a)
Notes receivables (See item 6b)
Real Estate (See item 8)

Machinery and equipment (See item 9)

Trucks and delivery equipment (See item 10)

Automobiles and Motorcycles (See item 11)

Aircraft (See item 12)

Watercraft (See item 13)
Securities (See item 14)
Judgments/Settlements not included in Accounts Receivables
(See item 15)

Ｏｒｄｑｖ＃ｗｒ＃ｈｑｗｌｗ｜ﾶｖ＃ｒｉｉｌｆｈｕｖ＃＋ｑｒｗ＃ｌｑｆｏｘｇｈｇ＃ｌｑ＃Ｑｒｗｈｖ＃Ｕｈｆｈｌｙｄｅｏｈｖ／＃ｄｅｒｙｈ，＃
(See item 16)

Other assets (See item 17)

	Total Assets ►
b. Liabilities

Loans on insurance (See item 16)
Accounts payable
Notes payable
Mortgages (See item 8)
Judgments (See item 15)

Reserves (itemize)


Loans to officers/partners (See item 16)
Other (describe)

	Total Liabilities ►

5. Life insurance policies

Policy Number

Insurance

Company

Name

Policy Amount

Present

Cash

Surrender

Value Plus

Accumulated

Dividends

Policy Loan

Date Made

Automatic

Premium

Payments

Date Made

Total ►

FTB 4905FS (NEW 01-2007) PAGE 2

6. Accounts and Notes Receivable

a. Accounts Receivable

Address

Book Value

Amount Due

		Total ►
b. Notes Receivable	Address	Book Value	Amount Due

Total ►

7. Pending Litigation and Pending Judgments

Case Number

Court of Jurisdiction

Court Address

Judgment

Amount

Total ►

8. Real Estate

Property Address/Assessor Parcel Number

Cost

Fair Market

Value

Balance Due on Mortgage

Equity Value

Total ►

9. Machinery and Equipment

Description (Manufacturer, Model Number, Function)

Cost (less)

depreciation)

Fair Market Value

Total ►

FTB 4905FS (NEW 01-2007) PAGE 3

10.	Trucks and Delivery Equipment
						Cost (less)
	Description (Make, Model, Year, and License Plate Number)					depreciation)	Fair Market Value





					Total ►
11.	Automobiles and Motorcycles
						Cost (less)
	Description (Make, Model, Year, and License Plate Number)					depreciation)	Fair Market Value




					Total ►
12.	Aircraft
Year, Model Number, Model Name, and						Cost (less)
Tail (N) Number			Hangar Location			depreciation)	Fair Market Value




					Total ►
13.	Watercraft
Year, Make, Model and Vehicle						Cost (less)
Registration Number (CF Number)			Docking Location			depreciation)	Fair Market Value




					Total ►
14.	Securities (Stocks, bonds, etc.)
		Name of Security		Number of Shares		Cost	Fair Market Value





			Total ►
15.	Judgments/Settlements (not included in Accounts Receivable)
Case Number		Court and Jurisdiction			Judgment Amount	Date Recorded	Award Amount





						Total ►

FTB 4905FS (NEW 01-2007) PAGE 4

16.Ｏｒｄｑｖ＃ｗｒ＃Ｈｑｗｌｗ｜ﾶｖ＃Ｒｉｉｌｆｈｕｖ／＃Ｊｈｑｈｕｄｏ＃Ｓｄｕｗｑｈｕｖ／＃Ｐｈｐｅｈｕｖ＃＋ｑｒｗ＃ｌｑｆｏｘｇｈｇ＃ｌｑ＃Ｑｒｗｈｖ＃Ｕｈｆｈｌｙｄｅｏｈｖ，＃

Ｕｈｆｌｓｌｈｑｗﾶｖ＃Ｑｄｐｈ＃ｄｑｇ＃Ｗｌｗｏｈ＃	Date Loan		Outstanding
Ｕｈｆｌｓｌｈｑｗﾶｖ＃Ｑｄｐｈ＃ｄｑｇ＃Ｗｌｗｏｈ＃	Originated	Loan Amount	Balance




	Total ►

17. Other Assets

Description

Estimated Value

Location

Total ►

18. Business References

	Relationship
Client/Vendor Name	to Entity	Address		Telephone Number
			(	)

			(	)

			(	)

			(	)

			(	)

			(	)

FTB 4905FS (NEW 01-2007) PAGE 5

19.	Statement of Income ﾱ＃Business Entity

IMPORTANT: Please furnish the information requested below (from income tax returns, as adjusted, for the last two years

and from records for current year from January 1 to date).

a. Gross Income		20_____	20_____	Jan 1 to	20_____
Gross sales or receipts (Subtract returns and allowances)
Cost of good sold
Gross profit ﾱ＃trading or manufacturing
Gross profit ﾱ＃from other sources
Interest income
Rents and royalties
Gains and losses (From Schedule D)
Dividends
Other (Specify)

Other (Specify)

Other (Specify)

	Total Income ►
b. Deductions
Compensation of officers
Salaries and wages (Not deducted elsewhere)
Rents
Repairs
Bad Debts
Interest
Taxes
Losses
Dividends
Depreciation and depletion
Contributions
Advertising
Other (Specify)

Other (Specify)

Other (Specify)

	Total Deductions ►
b. Net Income (loss)	►
b. Nontaxable income	►

FTB 4905FS (NEW 01-2007) PAGE 6

20. Salaries paid to principal officers and dividends distributed

IMPORTANT: Please show salaries paid to principal officers for the most recent accounting period.

a. Officers Names and Titles	Salaries	Dividends Paid

	● President
	● Vice President
	● Treasurer
	● Secretary
	● Member
	● Partner

Total ►

21.Disposal of assets ﾱ＃From the beginning of the taxable period covered by this offer in compromise to the present date, has there been a disposition of any assets or property with a cost or fair market value of more than $500, except for full value at the time of sale, transfer, exchange, gift or other disposition?

ﾅNo ﾅ Yes (If yes, please furnish the following information.)

Description of Asset

	Fair Market Value	Consideration	Relationship of Transferee
Date of Transfer	When Transferred	Received	to Taxpayer

22.Are there any assets or an asset or an interest in assets either actual or contingent, other than those listed above?

ﾅNo ﾅ Yes (If yes, please describe the assets.)

23a. Are foreclosure proceedings	b. If yes, please give location of real estate.	c. Was the government made
pending on any real estate		a party to the suite?
which the entity owes or has
an interest in?

ﾅ No	ﾅ Yes		ﾅ No	ﾅ Yes
24a. Are bankruptcy or receivership proceedings pending?		b. Is it in process of liquidation?
ﾅ No	ﾅ Yes	ﾅ No	ﾅ Yes
25. What is the prospect of an increase in value of assets or in present income? (Please give general statement.)

26.Affidavit

Under penalties of perjury, I declare that I have examined the information given in this statement and, to the best of my knowledge and belief, it is true, correct, and complete, and I further declare that there are no assets, owned either directly or indirectly, or income of any nature other than as shown in this statement.

26a.Date of this statement

b. Signature

c. Title

FTB 4905FS (NEW 01-2007) PAGE 7

Questions and Answers

Q.What does the Franchise Tax Board consider a fair offer in relation to the amount due?

A.Generally, we will accept an offer when the amount offered is more than we can expect to collect within a reasonable period of time.

Q.Can I make payments on the offered amount?

A.No, we require a lump sum payment of the offered amount.

Q.Can prior payments be applied to the offered amount?

A.We cannot apply prior payments toward the offered amount. However, we will consider prior payments and the offered amount compared to the total liability when evaluating your offer.

Q.My Internal Revenue Service OIC has been accepted. Will the FTB automatically approve my offer?

A.No, we will evaluate your Franchise Tax Board offer separately from your Internal Revenue Service offer.

Q.If the Franchise Tax Board determines that my offer is not acceptable, will I be contacted?

A.Yes. We will contact you to discuss your account and to determine the most appropriate resolution. For example, if we determine that the corporation has the ability to make monthly payments which will exceed the amount offered, we will work with you to establish an installment agreement.

Q.Will state tax liens be released if the offer is accepted?

A.Generally, we release state tax liens upon ﬁnal approval of your Offer in Compromise.

Q.Do I need to have someone represent me?

A.Representation is not required. The Offer in Compromise program is available to all taxpayers, whether or not they are represented.

Q.Can I get relief from the tax liability by ﬁling bankruptcy?

A.Part or all of the entity taxes may be dischargeable under the bankruptcy code. If this is a consideration, you may want to seek legal advice.

Q.Can I apply for an Offer in Compromise if I have no funds to offer?

A.No, we will not accept a zero dollar offer. Your offer must represent the most the Franchise Tax Board can expect to collect over a reasonable period of time.

Q.What is the collateral agreement?

A.This is a contractual agreement between the entity and the State of California, where the state agrees not to pursue collection of amounts owed it by the entity in exchange for a pledge of a percentage of entity income that is in excess of a speciﬁed amount. The collateral agreement is in conjunction with an Offer in Compromise and is generally for a period of ﬁve years.

Q.If my offer is approved, will the entity have to sign a collateral agreement?

A.If the business entity has limited potential for increased earnings, we will generally not require a collateral agreement.

FTB 4905BE C1 (REV฀１０-20１３)

FTB 4905BE C1 (REV １０-20１３)

How to Edit 4905Be Form

Our leading web developers worked hard to design the PDF editor we're proud to deliver to you. This application helps you instantly complete ftb 4905 and saves precious time. You only need to keep up with this guideline.

Step 1: Click the orange button "Get Form Here" on the page.

Step 2: Now you're on the file editing page. You may change and add information to the document, highlight specified content, cross or check particular words, insert images, sign it, erase needless areas, or eliminate them altogether.

Fill out the ftb 4905 PDF and enter the information for every single area:

The system will require you to fill out the Telephone Number (, Authorized representative (attach, Telephone Number (, The undersigned submits this Offer, Tax Year(s), Amount Due , Include tax, The sum of $ is offered in, If this Offer in Compromise is, and Retain any amounts deposited and segment.

Point out the most important details the Retain any amounts deposited and, Return the amount deposited, and FTB 4905BE C1 (REV １０-20１３) field.

The If yes, Amount borrowed $ , Name of lender , Lender’s address , Lender’s telephone number , □ No, If yes, Amount of gift $, Name of donor , and Donor’s relationship to the entity section will be your place to put the rights and obligations of each party.

stage 4 to entering details in ca ftb 4905 form

Finish by taking a look at all these sections and filling them in as required: List any individual or corporate, Name of Owner(s), % Owned, and (Attach a separate sheet.

Step 3: Select "Done". You can now export the PDF document.

Step 4: Prepare copies of the document. This can prevent possible difficulties. We cannot view or reveal your details, for that reason you can be confident it's going to be secure.

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