Dtf 5 Form – Fill Out and Use This PDF

The DTF-5 form, officially known as the Statement of Financial Condition, is a crucial document for individuals and businesses in need of tax resolution options such as payment plans or offers in compromise with the Department of Taxation and Finance. Required to provide a comprehensive overview of one's financial stance, it is imperative for each assessed taxpayer—and for each responsible person in a business scenario—to accurately complete and submit this form. With sections covering everything from taxpayer information to detailed asset declarations, ensuring thoroughness and accuracy is essential.

To navigate through the complexity of arranging your financial information and making a compelling case for your payment plan or offer in compromise, it is vital to fill out the DTF-5 form meticulously. Click the button below to get started on securing a more manageable financial future.

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Dtf 5 Form PDF Details

In an era where financial disclosure has become a cornerstone for accessing various tax-related resolutions, the Department of Taxation and Finance's DTF-5 Statement of Financial Condition emerges as a pivotal document. Its primary function is to accompany requests for payment plans, offers in compromise, or other similar proposals, aiming to present a comprehensive snapshot of the taxpayer's financial standing. What sets the DTF-5 form apart is its meticulous requirement for detail across a broad spectrum of financial arenas, demanding clarity on assets, liabilities, income, and even potential future value changes. For individual taxpayers, including those assessed for business-related responsibilities, the form serves as a testament to their current financial health; meanwhile, businesses are obligated to submit a separate DTF-5, emphasizing the form's significance in evaluating financial solvency and integrity. Moreover, the inclusion of a Form DTF-5 is requisite for those seeking an offer in compromise under various categories, underscoring its essential role in facilitating tax resolution processes. With its comprehensive structure aimed at capturing everything from personal taxpayer information to detailed asset and liability accounts, the DTF-5 is a cornerstone document, bridging taxpayer circumstances with equitable tax resolution avenues.

Question	Answer
Form Name	Dtf 5 Form
Form Length	10 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	2 min 30 sec
Other names	dtf print, dtf 5 ny, dtf forms form, dtf

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Department of Taxation and Finance	DTF-5
Department of Taxation and Finance
Statement of Financial Condition	(8/18)

Complete Form DTF-5 and include it with your request for a payment plan, offer in compromise, or other proposal. Form DTF-5 must be completed for each taxpayer assessed, except for joint taxpayers, where both spouses may submit one Form DTF-5. For a business, a Form DTF-5 is required for that business, and for each individual assessed as a responsible person. To make an offer in compromise, you must include a completed Form DTF-5 for each taxpayer who submits either a:

•Form DTF-4.1, Offer in Compromise for Fixed and Final Liabilities, or

•Form DTF-4, Offer in Compromise for Liabilities Not Fixed and Final, and Subject to Administrative Review.

You must answer all questions and provide all required attachments listed on page 10. If a question does not apply, mark an X in the Not applicable box, or enter N/A. If you need additional space, attach sheets and label them accordingly.

•Taxpayer information

Name of taxpayers: individuals or business		Date of birth	Social Security number

		Spouse’s date of birth	Spouse’s Social Security number

		Employer identification number (EIN)

	Home address			Telephone number

Mailing address (if different from above, or if a PO Box number is used)

	Business address			Telephone number

	Mailing address (if different from above, or if a PO Box number is used)

	Employer’s name, address, and telephone number

	Spouse’s employer’s name, address, and telephone number

Do you or your spouse have any business interests? (filed federal schedules C, E, F, etc.)	Yes
If Yes, enter details on page 5.

All other persons in your household or claimed as dependents

Name	Age	Relationship	Social	Can be claimed as		Contributes to
Name	Age	Relationship	Security number	a dependent?		household income?
			Security number	a dependent?		household income?

				Yes	No	Yes	No
				Yes	No	Yes	No
				Yes	No	Yes	No
				Yes	No	Yes	No
				Yes	No	Yes	No

•Taxpayer’s representative information

I have no representative

Name of representative, if any (attach Form POA-1, Power of Attorney, if required)

Telephone number

Address

Attach additional sheets if necessary.

Page 2 of 10 DTF-5 (8/18)

•Assets As of

Date

Enter the balance for each of the following, using the most current value. If any of the following amounts are negative, enter 0.

Cash on hand

Box (A) – Total cash on hand (also enter on page 7, line 1)

(A)

Bank accounts (domestic and foreign)			Not applicable

Name of financial institution	Type*	Account number	Balance

* Type may include: checking, savings,	Box (B) – Total balance (also enter on page 7, line 2)
money market, stored value cards, etc.

(B)

Do you rent a safe deposit box in your name, or in any other name?	Yes
If Yes, give name and address of bank:

Brokerage accounts					Not applicable

Institution or brokerage name	Type*	Account number	Market value	Less:	Net value
Institution or brokerage name	Type*	Account number	Market value	Loans, if any	Net value

* Type may include: stocks, bonds, other	Box (C) – Total net value (also enter on page 7, line 3)
investments, etc.

(C)

Retirement accounts					Not applicable

Institution or custodian name	Type*	Account number	Market value	Less:	Net value
Institution or custodian name	Type*	Account number	Market value	Loans, if any	Net value

* Type may include: 401K, IRA, pension,	Box (D) – Total net value (also enter on page 7, line 4)
profit sharing, etc.

(D)

Cash value of life insurance policies					Not applicable

Institution company name	Type*	Policy number	Cash value	Less:	Net value
Institution company name	Type*	Policy number	Cash value	Loans, if any	Net value
				Loans, if any

* Type may include: term, whole life, etc.

Box (E) – Total net cash value (also enter on page 7, line 5)

(E)

Attach additional sheets if necessary.

					DTF-5 (8/18) Page 3 of 10

Assets (continued) As of
Assets (continued) As of	Date
	Date

Accounts receivable						Not applicable

Name and address		Date recorded	Book value	Less:	Date pledged,	Net value
Name and address		Date recorded	Book value	Loans, if any	if applicable	Net value
				Loans, if any	if applicable

Box (F) – Total net value (also enter on page 7, line 6)

(F)

Inventory					Not applicable

Detailed description	Date recorded	Book value	Less:	Date pledged,	Net value
Detailed description	Date recorded	Book value	Loans, if any	if applicable	Net value
			Loans, if any	if applicable

Box (G) – Total net value (also enter on page 7, line 7)

(G)

Notes receivable					Not applicable

Name and address	Date recorded	Book value	Less:	Date pledged,	Net value
Name and address	Date recorded	Book value	Loans, if any	if applicable	Net value
			Loans, if any	if applicable

Box (H) – Total net value (also enter on page 7, line 8)

(H)

Valuable items, machinery, and equipment

Not applicable

(List any artwork, collections, jewelry, items in safe deposit boxes, tools, furniture, fixtures, etc. that you own fully or partially)

Description

Fair market value

Loan balance, if any

Box (I) – Total fair market value (enter Asset on page 7, line 9)	(I)
	$

Box (J) – Total loan balance, if any (enter Liability on page 7, line 18)

(J)

Attach additional sheets if necessary.

Page 4 of 10 DTF-5 (8/18)

Assets (continued) As of

Date

Real estate

Not applicable

(List any house, condo, co-op, timeshare, land, commercial property, etc. that you own fully or partially, located inside and outside of the country)

Complete address	Description*	Owners	Current fair	Mortgage balance,	Unpaid property
Complete address	Description*	Owners	market value	if any		taxes
			market value	if any		taxes





Box (K) – Total fair market value (enter Asset on page 7, line 10)			(K)
			$
Box (L) – Total mortgage balance (enter Liability on page 7, line 19)				(L)
				$
* Description may include: primary residence,						(M)
vacation home, rental property, etc.	Box (M) – Total unpaid property taxes (enter Liability on page 7, line 20)				$
Foreclosure proceedings:					Not applicable
Are foreclosure proceedings pending on any real estate which you own or have an interest in?				....................................	Yes	No
If Yes, please give locations of the real estate:
Was the New York State Tax Department made a party to the suit?					Yes	No

Vehicles (List any cars, boats, motorcycles, trucks, aircraft, etc. that you own)					Not applicable

Year, make, and model	Plate number or	Mileage	Owners	Fair market value	Loan balance
Year, make, and model	Reg. number	Mileage	Owners	Fair market value	Loan balance
	Reg. number

Box (N) – Total fair market value (enter Asset on page 7, line 11)	(N)
	$

Box (O) – Total loan balance (enter Liability on page 7, line 21)

(O)

Leased vehicles (List any cars, boats, motorcycles, trucks, aircraft, etc. that you lease)

Not applicable

Year, make, and model

Plate number or

Reg. number

Mileage

Lessee name(s)

Date of lease

Term of lease

Attach additional sheets if necessary.

				DTF-5 (8/18)		Page 5 of 10

Assets (continued) As of
Assets (continued) As of	Date
	Date

Interest in trust or estate					Not applicable
Are you the grantor, donor, or trustee for any trust?					Yes	No
Are you the beneficiary of any trust or estate?					Yes	No
Do you have any life interest or remainder interest, either vested or contingent, in any trust or estate?					Yes	No
If Yes to any of the above, furnish a copy of the instrument creating the trust or estate. Also, complete the table below.

Name of trust or estate			Annual income you received	Present value of trust or	Value of your
Name of trust or estate			from this source	estate	interest
			from this source	estate	interest


		Box (P) – Total value of your interest (enter Assets on page 7, line 12)			$	(P)
					$
Business interests (from page 1, if you marked Yes)					Not applicable

If you or your spouse have ownership in any business, complete the table below. You must complete this section if you:

•filed federal schedules C, E, F, and other federal business forms filed by an individual in the preceding 3 years.

•received federal schedules K-1 in the preceding 3 years.

•are a shareholder of a business that filed federal Form 1120, U.S. Corporation Income Tax Return, in the preceding 3 years.

Business name

Employer

identification number

Type of

business*

Ownership percentage

Annual cash contributed**

Annual cash

received**

Value of your investment***

Box (Q) – Total value of your investments (enter Assets on page 7, line 13)

(Q)

*List all types of businesses, including sole proprietorships, partnerships, S corporations, C corporations, etc.

**Annual cash contributed or received may include: Shareholder or partner contributions or distributions, etc.

***Value of your investment may include: Your share of net worth or your partner capital account, etc.

Contingent claims or legal actions

Not applicable

(Potentially receivable or collectable, such as pending insurance claims, settlements, etc.)

Name of payer(s)

Date you expect to

receive funds

Dollar amount

Box (R) – Total dollar amount (enter Assets on page 7, line 14)

(R)

•Increase in value

What is the prospect of an increase in value of any of your assets and your present income? Provide a detailed explanation.

Attach additional sheets if necessary.

Page 6 of 10 DTF-5 (8/18)

•Disposal of assets

Not applicable

Did you transfer any assets with a fair market value of $500.00 or more during the period beginning with the
start of your proposal’s tax period and the present?	Yes	No

If Yes, attach a copy of the applicable transfer document (i.e. sales agreement, closing statement, HUD-1 statement, etc.). Also complete the table below. List all applicable transactions, including:

•transfer or sale of real estate

•transfer or sale of business interests

•assets that were transferred for less than fair market value

•disposal of any of the above

Asset type and description	Relationship of transferee	Date of transfer	Fair market value	Dollar amount you
Asset type and description	Relationship of transferee	Date of transfer	when transferred	received
			when transferred	received

•Judgments As ofNot applicable Date

Name of creditor(s)

Date recorded

Where recorded

Dollar amount of

judgment filed

Current balance due on judgment

Box (S) – Total balance due on judgments (enter Liability on page 7, line 22)

(S)

Bankruptcy

Not applicable

Are bankruptcy or receivership proceedings pending?	Yes
If a corporation or other business, is it in the process of liquidation?	Yes

No No

Unlawful activities

Not applicable

Is the liability you are trying to compromise related to a crime for which you pleaded or were found guilty?		Yes
Have you (or any one of you) been convicted of any crime involving unlawful possession or acquisition of property
	or income obtained by fraud, theft, or other illegal means within the last 5 years?	Yes
Are you the subject of, or defendant in, any pending criminal or grand jury action or proceeding which may involve
	or affect in any way, your right, title, or interest to any real or personal property whether or not listed herein?	Yes

If Yes to any of the above, provide details:

Attach additional sheets if necessary.

		DTF-5 (8/18) Page 7 of 10

•Statement of assets and liabilities As of	Date	pages 2 through 6)
		Values (from

Assets		Amount

1.Cash on hand (from page 2, Box (A))

2.Bank accounts (from page 2, Box (B))

3.Brokerage accounts (from page 2, Box (C))

4.Retirement accounts (from page 2, Box (D))

5.Cash value of life insurance (from page 2, Box (E))

6.Accounts receivable (from page 3, Box (F))

7.Inventory (from page 3, Box (G))

8.Notes receivable (from page 3, Box (H))

9.Valuable items (from page 3, Box (I))

10.Real estate (from page 4, Box (K))

11.Vehicles (from page 4, Box (N))

12.Interest in trust or estate (from page 5, Box (P))

13.Business interests (from page 5, Box (Q))

14.Contingent claims or legal actions, receivable (from page 5, Box (R))

15.Other assets (list)

Total assets	$
Liabilities	Amount

16.New York State tax liabilities (not already included in Judgments on page 6)

17.Federal tax liabilities (not already included in Judgments on page 6)

18.Loans against valuable items (from page 3, Box (J))

19.Mortgage balances (from page 4, Box (L))

20.Unpaid property taxes (from page 4, Box (M))

21.Loans against vehicles (from page 4, Box (O))

22.Balance due on judgments (from page 6, Box (S))

23.Accounts payable

24.Credit card balances payable

25.Notes payable

26.Contingent claims and legal actions payable

27.Other liabilities (list)

Total liabilities

Attach additional sheets if necessary.

Page 8 of 10 DTF-5 (8/18)

•Household income and expenses – individual

Enter your household’s gross monthly income, including income from you, your spouse, significant other, children, and others who contribute to the household.

Monthly gross receipts or income	Name of source		Amount

Salaries, wages, commissions of applicant(s)
Salaries, wages, commissions of household members
Dividends
Interest
Net business income from all sole proprietorships and single-member LLCs (from
federal schedule Cs)

Distributions from partnerships and S corporations (from your attached federal schedules K-1,
the partner or shareholder cash distributions you received on an average monthly basis)*

Net proceeds from sales of securities and other investments ((stocks, bonds, mutual funds,
real properties, etc.) on an average monthly basis)*
Income from annuities and pensions
Income from rents and royalties
Income from trusts and estates
Social Security
Welfare
Unemployment
Gifts
Money from relatives
Other income (list)




Total monthly household income:		$
Monthly expenses	To whom paid		Amount
Monthly expenses	(and relationship)		Amount
	(and relationship)
Food, clothing, and miscellaneous (such as housekeeping supplies, personal care products)*
Housing (rent or mortgage payment, plus property taxes, home insurance, maintenance, dues, or fees)
Utilities (electricity, gas, other fuels, trash collection, water, cable, phone)
Vehicle loan and lease payments
Vehicle operating costs (maintenance, repairs, insurance, fuel, registrations, licenses, inspections,
parking, tolls, etc.)*
Public transportation costs (fares for mass transit such as bus, train, ferry, taxi, etc.)*
Health insurance premiums
Out-of-pocket health care costs (prescription drugs, medical services, and medical supplies like
eyeglasses, hearing aids, etc.)*
Court-ordered payments (alimony, child support, etc.)
Child or dependent care (daycare, home health care, etc.)
Life insurance premiums
Taxes (monthly cost of federal, state, and local tax, etc.)
Debt service payments (monthly payment for loans where you pledged an asset as collateral; do not
include payments on unsecured debt such as credit cards.)
Other expenses (list)






Total monthly household expenses:		$
* You may provide reasonable estimates for certain income and expenses on an average monthly basis.

Attach additional sheets if necessary.

DTF-5 (8/18) Page 9 of 10

•Income and expenses – business

If this proposal is from a business, enter the information below for the last two calendar (fiscal) years and most recent interim period (year-to-date). Attach a detailed statement of carryover and carryback loss intentions. If you do not intend to use this offset, attach a full explanation.

			Most recent interim period
Gross receipts or income	Year before last	Last year		(year-to-date)
Gross receipts or income	20	20			, 20

Gross sales or receipts (net of returns and allowances)
Less: Cost of goods sold
Gross profit
Dividend income
Interest income
Gross rents
Gross royalties
Ordinary income (loss) from partnerships, estates and trusts, if applicable
Net farm profit (loss) (federal schedule F (Form 1040))
Gains from sales of assets (federal Form 4797))
Capital gain net income (federal schedule D (Form 1120))
Other income (list)

Total income	$	$	$
			Most recent interim period
Deductions	Year before last	Last year		(year-to-date)
Deductions	20	20			, 20

Compensation of officers
Guaranteed payments to partners
Salaries and wages (not deducted elsewhere)
Pension, profit-sharing, retirement plans, etc.
Employee benefit programs
Rents
Repairs and maintenance
Taxes and licenses
Depreciation, amortization, depletion
Bad debts
Interest expense
Contract labor, commissions, and fees paid
Legal and professional services
Car and truck expenses
Travel, meals, and entertainment
Contributions, charitable giving
Other operating expenses (list)

Total deductions	$	$	$
Total capital contributed by shareholders, partners, or owners
of the business	$	$	$
Total distributions or dividends paid to shareholders, partners, or
owners of the business	$	$	$

Annual benefit paid to principal officers and owners – Enter the total annual benefit paid to each of the principal officers and owners of the business. Annual benefit may include, but not be limited to, the following sources: wages, guaranteed payments to partners, shareholder/partner distributions, management fees, commissions, and shareholder/partner loans received from the business.

Name and title		20	20	20

	, President
	, Vice President
	, Treasurer
	, Secretary

Attach additional sheets if necessary.

Page 10 of 10 DTF-5 (8/18)

•Attachments

Items 1, 2, and 3 must be attached; items 4 through 12, if applicable, must also be attached.

Failure to provide these returns, statements, and documents will cause immediate rejection of your compromise request, request for payment plan, or other proposal.

You must attach:

1. Federal returns for the preceding three years, with all schedules and statements attached. If you were not required to file, include an explanation. In addition:

•for all sole proprietorships or single-member LLC’s (Schedule C), also include the balance sheets for the preceding three years, as of each year-end. These balance sheets may be self-prepared.

•include all federal schedules K-1 from Form 1120S or Form 1065, or both, for the preceding three years, as applicable.

2. Complete credit reports issued by a credit bureau dated within 30 days of this submission.

3. All bank account statements, brokerage account statements, and retirement account statements for the preceding 12 months.

•If you receive certain statements on a quarterly basis, provide the four most recent quarterly statements for the applicable account(s).

•If you receive certain statements on an annual basis, provide the most recent annual statement for the applicable account(s).

You must attach, if applicable:

4. Federal application to compromise, with the results.

5. Recent mortgage or home equity loan statements(s) dated within 30 days of submission. The statement(s) must show monthly payment amounts and current balance outstanding. We may request a real estate appraisal.

6. All mortgage indentures and conveyances, as grantor or grantee, for the preceding 10 years.

7. Lease agreements, both as landlord and tenant.

8. Loan agreements, both for note(s) receivable and note(s) payable. Include the security/collateral agreements for all secured loans.

9. Contracts of sale of any assets having a fair market value of over $500.00 within the last five years. For example, sales agreement, closing statement, HUD-1 statement, etc.

10. Copies of legal instruments related to pending claims (insurance or otherwise), rights to sue, subrogations, assignments, and other assets.

11. Bankruptcy discharge papers, if applicable.

12. For any business (corporation, partnership, s corp, non-profit organization, professional corp, etc.): We may request the audited, reviewed, or company-prepared financial statements for the preceding three years. In addition, we may request an Accounts Receivable Aging Report for any business.

•Declaration

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 I have no assets, owned either directly or indirectly, or income of any nature other than as shown in this statement. I make this statement with the knowledge that a willfully false representation is a misdemeanor punishable under New York State Penal Law section 210.45.

I authorize the New York State Department of Taxation and Finance (DTF) to contact certain third parties, including but not limited to financial institutions and consumer credit reporting agencies, and to obtain my consumer credit report for the purpose of verifying the information I provided to DTF for determining my eligibility for an installment payment agreement or other payment terms. In addition, I authorize DTF to use my Social Security number when requesting my credit history from consumer reporting agencies or when verifying the information provided. I understand that DTF will not notify me about which third parties, if any, are contacted by DTF as part of this review process.

Taxpayer’s signature(s)

Date

Attach additional sheets if necessary.

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Inside the area Social Security number, Can be claimed as a dependent, Contributes to household income, Yes, Yes, Yes, Yes, Yes, Yes, Yes, Yes, Yes, Yes, Taxpayers representative, and Name of representative if any write down the particulars which the platform asks you to do.

part 2 to completing dtf 5 ny state form

The program will ask you for details to instantly prepare the section Page of DTF, Assets As of, Date, Enter the balance for each of the, Cash on hand, Box A Total cash on hand also, Bank accounts domestic and foreign, Not applicable, Name of financial institution, Type, Account number, Balance, Type may include checking savings, Box B Total balance also enter on, and Do you rent a safe deposit box in.

The Type may include stocks bonds, investments etc, Box C Total net value also enter, Retirement accounts, Institution or custodian name, Type, Account number, Market value, Not applicable, Less Loans if any, Net value, Type may include K IRA pension, profit sharing etc, Box D Total net value also enter, and Cash value of life insurance area may be used to indicate the rights and responsibilities of all sides.

part 4 to entering details in dtf 5 ny state form

Finish by reading the next areas and preparing them correspondingly: Type may include term whole life, Box E Total net cash value also, and Attach additional sheets if.

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