Form 592 F – Fill Out and Use This PDF

The Form 592-F is designated for partnerships or limited liability companies (LLCs) to report annual withholding for their foreign partners or members for the taxable year in California. It serves as a means to allocate the income and related withholding amounts accurately to non-U.S. entities involved. Filing this form ensures compliance with the California Revenue and Taxation Code Section 18666, facilitating proper tax withholding and credits for foreign entities. Ensure correctness and timeliness in submitting Form 592-F by clicking the button below to get started.

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Form 592 F PDF Details

Navigating the intricacies of tax compliance, especially for entities involved with foreign partners or members, mandates a comprehensive understanding of various forms and regulations. Among these, the California Form 592-F plays a pivotal role. Designed for the annual return of foreign partners or members, this form is a critical tool for reporting total withholding for the year and allocating income and related withholding to foreign entities. Updated to reflect the increase in personal income tax rates and adjusted withholding requirements for sales of California real property, the Form 592-F encompasses detailed sections for withholding agents and payees alike. Its structure facilitates the recording of withheld taxes, including backup withholdings, and delineates the allocation of such withholdings to foreign partners or members. Additionally, the form comes with instructions on amending returns, the significance of attaching a perjury statement, and the nuances of electronic filing requirements for sizable submissions. With penalties poised for non-compliance, the importance of accurately completing and timely filing Form 592-F cannot be understated, underscoring its role in maintaining fiscal responsibility and legal compliance within the realm of international partnerships and LLCs engaged in California business.

Question	Answer
Form Name	Form 592 F
Form Length	4 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min
Other names	12_592f 592 f 2012 form

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TAXABLE YEAR	CALIFORNIA FORM
2012 Foreign Partner or Member Annual Return	592-F

I฀฀ Amended I฀฀ Federal Extension

Taxable year: Beginning month __________________ day ________ year ________, and ending month __________________ day ________ year ________.

Part I Withholding Agent

Business name

฀SSN or ITIN ฀FEIN ฀CA Corp no. SOS file no.

First name

Initial Last name

Address (suite, room, PO Box, or PMB no.)

City (if you have a foreign address, see instructions)

State ZIP Code

Total Number of Foreign Partners or Members Included

Part II Tax Withheld

1 Total tax withheld from Schedule of Payees, excluding backup withholding	I฀ 1
(Side 2 and any additional pages)

2 Total backup withholding (Side 2 and any additional pages) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I฀ ฀2

3 Add line 1 and line 2. This is the total amount of tax withheld. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I฀ ฀3

4 Amount withheld by another entity and being allocated to partners or members . . . . . . . . . . . . . . . . . . . . I฀ ฀4

5 Prior payments of foreign partners’ or members’ withholding for taxable year shown above . . . . . . . . . . . I฀ ฀5

6 Amount credited from prior year’s withholding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I฀ ฀6

7Total payments. Add line 4, line 5, and line 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .I฀ ฀7

8Balance due. If line 3 is more than line 7, subtract line 7 from line 3. Remit the withholding payment

using Electronic Funds Transfer (EFT), or the Supplemental Payment Voucher from Form 592-A, along with

Form 592-F. Make a check or money order for the full amount payable to the “Franchise Tax Board.”

Write the tax ID number and “2012 Form 592-A” on the check or money order and mail to: . . . . . . . . . . . I฀ 8

WITHHOLDING SERVICES AND COMPLIANCE

FRANCHISE TAX BOARD

PO BOX 942867

SACRAMENTO CA 94267-0651

9	Overpayment. If line 7 is greater than line 3, subtract line 3 from line 7 (complete lines 10 and 11)	I฀ 9
10	Credit to next year. Enter the amount from line 9 that you want applied to the 2013 Form 592-F	I฀10
11	Refund. Subtract line 10 from line 9	I 11


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Part III Perjury Statement

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than withholding agent) is based on all information of which preparer has any knowledge.

( )

Withholding agent’s name ______________________________________________ Withholding agent’s daytime phone number ______________________

Withholding agent’s signature ______________________________________________________________ Date ____________________________________

Preparer’s name __________________________________________________________________________________________________________________

Preparer’s signature ______________________________________________________________________ Date ____________________________________

Preparer’s address ________________________________________________________________________________________________________________

( )

Preparer’s PTIN/SSN __________________________________________________ Preparer’s daytime phone number _____________________________

For Privacy Notice, get form FTB 1131.

8081123

Form 592-F C3 2011 Side 1

Withholding Agent’s (Payer’s) Name: _______________________ Withholding Agent’s (Payer’s) ID No.: _________________

Schedule of Payees

PRINT CLEARLY

Business name

SSN or ITIN

FEIN CA Corp no.

SOS ﬁle no.

First name

Initial

Last name

฀

If backup withholding, check

the box (see instructions)

Address (suite, room, PO Box, or PMB no.)

City (if you have a foreign address, see instructions)

State

ZIP Code

Total income

Amount of tax withheld

Business name

SSN or ITIN

FEIN CA Corp no.

SOS ﬁle no.

First name

Initial

Last name

฀

If backup withholding, check

the box (see instructions)

Address (suite, room, PO Box, or PMB no.)

City (if you have a foreign address, see instructions)

State

ZIP Code

Total income

Amount of tax withheld

Business name

SSN or ITIN

FEIN CA Corp no.

SOS ﬁle no.

First name

Initial

Last name

฀

If backup withholding, check

the box (see instructions)

Address (suite, room, PO Box, or PMB no.)

City (if you have a foreign address, see instructions)

State

ZIP Code

Total income

Amount of tax withheld

Business name

SSN or ITIN

FEIN CA Corp no.

SOS ﬁle no.

First name

Initial

Last name

฀

If backup withholding, check

the box (see instructions)

Address (suite, room, PO Box, or PMB no.)

City (if you have a foreign address, see instructions)

State

ZIP Code

Total income

Amount of tax withheld

Total Income and Withholding for This Page Only

Notice: We require the total amounts below to be calculated and submitted separately for each page.

	Total Income				Total California Tax Withheld Excluding					Total Backup Withholding
						Backup Withholding
,		,	.	00		,	,	.	00	,	,	.	00
			.					.				.

Side 2 Form 592-F C3 2011

8082123

Instructions for Form 592-F

Foreign Partner or Member Annual Return

What’s New

Increase in Rates – For taxable years beginning on or after January 1, 2012, the maximum personal income tax rate increased to 12.3%. In addition, non-California partnerships are subject to withholding requirements on a sale of California real property at a rate of 3 1/3% (.0333) of sales price or 12.3% of gain. The alternative withholding rate for the gain on sale of California real property by S corporations increased to 13.8% and 15.8% for ﬁnancial

S corporations.

Beginning January 1, 2011, we began applying Federal Treasury Regulation 1.1446-6 procedures to reduce or eliminate withholding of California tax on effectively connected taxable income (ECTI) from California sources allocable to a foreign partner. The foreign partner must ﬁrst sign and send IRS Form 8804-C to the partnership. The foreign partner must sign and send Form 589, Nonresident Reduced Withholding Request to the Franchise Tax Board (FTB) along with a signed copy of IRS Form 8804-C. The FTB will review the request within 21 business days. If the request is approved, the partnership should remit the reduced withholding amount to the FTB along with Form 592-A, Payment Voucher for Foreign Partner or Member Withholding.

General Information

At the end of the taxable year, partnerships and limited liability companies (LLCs) complete Form 592-F, Foreign Partner or Member Annual Return, to report the total withholding for the year and to allocate the income and related withholding to the foreign partners or members. When ﬁling Form 592-F with the Franchise Tax Board (FTB), the withholding agent is no longer required to submit to the FTB Form 592-B, Resident and Nonresident Withholding Tax Statement, for each partner or member. However, withholding agents must continue to provide the partners or members with copies of Form 592-B.

•For California withholding purposes, nonresident includes all of the following:

•Individuals who are not residents of California.

•Corporations not qualiﬁed through the California Secretary of State to do business in California or having no permanent place of business in California.

•Partnerships or LLCs with no permanent place of business in California.

•Any trust without a resident grantor, beneﬁciary, or trustee, or estates where the decedent was not a California resident.

•Foreign refers to non-U.S.

Withholding on foreign partners or members is remitted to the FTB using Form 592-A, Payment Voucher for Foreign Partner or Member Withholding. For more information

on the withholding requirements or to send withholding payments during the year, get Form 592-A.

Backup Withholding – Beginning on or after January 1, 2010, with certain limited exceptions, payers that are required to withhold and remit backup withholding to the Internal Revenue Service (IRS) are also required to withhold and remit to the FTB. The California backup withholding rate is 7% of the payment. For California purposes, dividends, interests, and any ﬁnancial institutions release of loan funds made in the normal course of business are exempt from backup withholding. For more information, go to ftb.ca.gov and search for backup withholding.

Submitting Payments – Use the Supplemental Payment Voucher from Form 592-A if you have a ﬁnal withholding payment to remit with Form 592-F.

A Purpose

Use Form 592-F to report the total withholding for the year on foreign partners or members under California Revenue and Taxation Code (R&TC) Section 18666. Form 592-F is used by pass-through entities to ﬂow-through withholding credit to their foreign partners or members. Caution: Real Estate Withholding should not be reported on this form.

Do not use Form 592-F if:

•฀ You are reporting withholding on domestic nonresident partners or members. Use Form 592, Resident and Nonresident Withholding Statement.

•You are the buyer or escrow person withholding on the sale of real estate. Use Form 593, Real Estate Withholding Tax Statement, to report real estate withholding.

B When and Where to File

For withholding on foreign partners or members, ﬁle Form 592-F, on or before the 15th day of the 4th month following the close of the partnership’s or LLC’s taxable year.

If all the partners or members are foreign, Form 592-F must be ﬁled on or before the 15th day of the 6th month after the close of the partnership’s or LLC’s taxable year. The withholding agent retains this form for a minimum of four years and must provide it to the FTB upon request.

Mail Form 592-F, the Supplemental Payment Voucher from Form 592-A, and payment to:

WITHHOLDING SERVICES AND COMPLIANCE

FRANCHISE TAX BOARD PO BOX 942867 SACRAMENTO CA 94267-0651

10-Day Notiﬁcation – California follows federal law, which requires that withholding agents notify foreign payees within 10 days of any tax withheld. For California withholding

purposes, withholding agents should make a similar notiﬁcation to nonresident payees. No particular form is required for this notiﬁcation, and it is commonly done on the statement accompanying the distribution or payment. However, the withholding agent may choose to report the tax withheld to the payee on a Form 592-B.

C Amending Form 592-F

Amended forms can only be ﬁled by the withholding agent. To amend Form 592-F:

•Complete a new Form 592-F with the correct information.

•Check the “Amended” box at the top of the revised form.

•Include a letter explaining what changes were made and why.

•Send the amended Form 592-F and letter to the address on the form.

D Federal Extension

Check the “Federal Extension” box at the top of the form if you ﬁled for an extension to ﬁle federal Form 8804, Annual Return for Partnership Withholding Tax.

Caution: An extension to ﬁle is not an extension to pay. The ﬁnal withholding payment is due on or before the original due date for Form 592-F regardless of an extension to ﬁle.

EElectronic Filing Requirements

Form 592-F information must be ﬁled with the FTB electronically, using FTB’s Secure Web Internet File Transfer (SWIFT), instead of paper when the number of payees on Form 592-F

is 250 or more. However, withholding agents must continue to provide payees with paper copies of Form 592-B. To submit your

Form 592-F for electronic ﬁling, use the SWIFT process as outlined in FTB Pub. 923, SWIFT Guide for Resident, Nonresident, and Real Estate Withholding.

For the required ﬁle format and record layout for electronic ﬁling, get FTB Pub. 1023S, Resident and Nonresident Withholding Electronic Submission Requirements. If you are the preparer for more than one withholding agent, provide a separate electronic ﬁle for each withholding agent.

For electronic ﬁling submit your payment using EFT or Form 592-A.

F Interest and Penalties

Interest on late payments is computed from the due date of the withholding to the date paid. Failure to withhold may result in the withholding agent being personally liable for the amount of tax that should have been withheld and for interest and penalties.

Form 592-F Instructions 2011 (REV 12-12) Page 1

A penalty will be assessed for failure to ﬁle complete, correct, and timely information returns (Form 592-F schedule of payees) to the FTB. The penalty is calculated per payee:

•$15 if ﬁled 1 to 30 days after the due date.

•$30 if ﬁled 31 days to 6 months after the due date.

•$50 if ﬁled more than 6 months after the due date.

Speciﬁc Instructions

If completing Form 592-F by hand, enter all information requested using black or blue ink.

Taxable Year

•Enter the beginning and ending dates for the partnership’s or LLC’s taxable year.

•Make sure the year in the upper left corner of the form matches the ending date of the taxable year.

Foreign Address – Enter the information in the following order: City, Province/Region, Postal Code, and Country. Follow the country’s practice for entering the postal code. Do not abbreviate the country’s name.

Private Mail Box (PMB) – Include the PMB in the address ﬁeld. Write “PMB” ﬁrst, then the box number. Example: 111 Main Street PMB 123.

Part I Withholding Agent

Enter the business or individual withholding agent’s name, ID number, and address. If your entity is a partnership, LLC, estate,

or trust that was withheld upon by another entity because you are a foreign (non-U.S.) partner or member of that entity and you are ﬂowing through the withholding credit to your partners, members, or beneﬁciaries, enter your entity’s name, ID number, and address in the business name area.

If you are ﬁling Form 592-F only to ﬂow- through withholding credits to your partners, members, or beneﬁciaries, enter your information in Part I.

Do not enter the name or ID number of the entity which originally withheld payments from you.

Enter the total number of foreign partners or members included on all Schedule of Payees from Side 2 (including all additional Schedule of Payees you attached).

Part II Tax Withheld

Line 1 – Enter the total withholding, excluding backup withholding, from the Schedule

of Payees listed on Side 2 (including any additional Schedule of Payees you attached).

Line 2 – Enter the total backup withholding from the Schedule of Payees listed on Side 2 (including any additional Schedule of Payees you attached).

Line 3 – Add line 1 and line 2. This is the total amount of tax withheld.

Line 4 – Enter the amount withheld by another entity and being allocated to your foreign partners or members. If any of the amount withheld by the other entity is to be used against the tax owed by your entity, do not include that amount in line 4. Attach a note to Form 592-F explaining how much of the credit will be used to offset your tax due.

Line 5 – Enter prior payments for the taxable year shown above from Forms 592-A.

Line 6 – Enter the amount of foreign partner or member credit carried over from the prior withholding year.

Line 8 – If line 3 is more than line 7, subtract line 7 from line 3. If the result is less than zero, enter -0-. Remit the withholding payment using Electronic Funds Transfer (EFT), or the Supplemental Payment Voucher from Form 592-A, along with Form 592-F. Important: Include (but do not attach) a check or money order to the Supplemental Payment Voucher from Form 592-A for the full amount payable to the “Franchise Tax Board.” Using black or blue ink, write the tax ID number and “2012 Form 592-A” on the check or money order.

Line 9 – If line 7 is greater than line 3, subtract line 3 from line 7 (complete lines 10 and 11).

Line 10 – Enter the amount of your overpayment on line 9 that you want to credit to the 2013 Form 592-F.

Part III Perjury Statement

Complete the withholding agent’s and preparer’s information.

Schedule of Payees Instructions

Enter all the requested information for each payee you report as having received California source income to ensure each payee’s withholding payment is applied timely and properly.

You must use the Schedule of Payees on Side 2 of Form 592-F to report additional payees – If you withheld tax on multiple payees for the period, use and attach additional Schedule of Payees from Side 2 of Form 592-F, as necessary. Do not use your own version

of the Schedule of Payees to report additional payees. We can only accept and process additional payees reported on the Schedule of Payees from Side 2 of Form 592-F. Be sure to include the withholding agent’s or payer’s name and ID number at the top of each additional page.

Business or Individual Name, Tax ID Number, and Address – Enter the business or individual name, tax identiﬁcation number, and address for the partner or member. For foreign addresses, see Speciﬁc Instructions.

Backup Withholding – If the payee is subject to backup withholding, check this box. If you are a foreign ﬂow-through entity reporting backup withholding, attach the withholding statement that enables you to determine the speciﬁc payment to each recipient as required by the IRS.

Total Income – Enter the total income subject to withholding.

Amount of Tax Withheld – Enter the amount of tax withheld. Determine the California source taxable income allocable for the partner or member, then multiply by the applicable tax rate:

Income amount X Maximum tax rate for the partner or member.

Tax Rates

12.3% Non-corporate maximum tax rate

8.84% Corporate maximum tax rate

10.84% Bank and ﬁnancial institution maximum tax rate

Additional Information

For additional information or to speak to a representative regarding this form, call the Withholding Services and Compliance automated telephone service at: 888.792.4900 or 916.845.4900.

OR write to:

WITHHOLDING SERVICES AND COMPLIANCE

FRANCHISE TAX BOARD PO BOX 942867 SACRAMENTO CA 94267-0651

You can download, view, and print California tax forms and publications at ftb.ca.gov.

OR to get forms by mail write to:

TAX FORMS REQUEST UNIT FRANCHISE TAX BOARD PO BOX 307

RANCHO CORDOVA CA 95741-0307

For all other questions unrelated to withholding or to access the TTY/TDD number, see the information below.

Internet and Telephone Assistance

Website:	ftb.ca.gov
Telephone:	800.852.5711 from within the
	United States
	916.845.6500 from outside the
	United States
TTY/TDD:	800.822.6268 for persons with
	hearing or speech impairments
Asistencia Por Internet y Teléfono
Sitio web:	ftb.ca.gov
Teléfono:	800.852.5711 dentro de los
	Estados unidos
	916.845.6500 fuera de los
	Estados Unidos
TTY/TDD:	800.822.6268 personas con
	discapacidades auditivas y del
	habla

Page 2 Form 592-F Instructions 2011 (REV 12-12)

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For you to complete this form, make sure that you enter the necessary information in every single blank field:

1. Firstly, once completing the Form 592 F, start out with the form section that includes the next fields:

Learn how to complete Form 592 F portion 1

2. The subsequent step is to fill out these blanks: Side and any additional pages, Balance due If line is more than, using Electronic Funds Transfer, Write the tax ID number and Form, WITHHOLDING SERVICES AND COMPLIANCE, FRANCHISE TAX BOARD PO BOX, Overpayment If line is greater, Part III Perjury Statement Under, Withholding agents name, Withholding agents signature Date, and Preparers name.

Form 592 F writing process shown (portion 2)

Be really attentive while filling in Write the tax ID number and Form and Withholding agents name, because this is the part where many people make mistakes.

3. Completing Preparers signature Date, Preparers address, Preparers PTINSSN Preparers, For Privacy Notice get form FTB, and Form F C Side is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Preparers PTINSSN Preparers, Preparers signature Date, and Preparers address in Form 592 F

4. To move onward, the following step will require filling out a few empty form fields. Examples include Withholding Agents Payers Name, Schedule of Payees, Business name, First name, Initial Last name, Address suite room PO Box or PMB no, SSN or ITIN FEIN CA Corp no, PRINT CLEARLY, If backup withholding check the, City if you have a foreign address, State ZIP Code, Total income, Amount of tax withheld, Business name, and First name, which are fundamental to continuing with this process.

Tips on how to prepare Form 592 F step 4

5. Finally, this final part is precisely what you need to finish prior to using the form. The fields in this case include the next: Business name, First name, Initial Last name, Address suite room PO Box or PMB no, SSN or ITIN FEIN CA Corp no, If backup withholding check the, City if you have a foreign address, State ZIP Code, Total income, Amount of tax withheld, Business name, First name, Initial Last name, Address suite room PO Box or PMB no, and SSN or ITIN FEIN CA Corp no.

Total income, Initial Last name, and First name in Form 592 F

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