Form It 370 Pf PDF Details

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QuestionAnswer
Form NameForm It 370 Pf
Form Length2 pages
Fillable?Yes
Fillable fields27
Avg. time to fill out5 min 58 sec
Other namesit 370 pdf 2019, form it 370 2020, it 370 form 2020, new york form it 370 pf

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Department of Taxation and Finance

IT-370-PF

Application for Automatic Extension of Time to

File for Partnerships and Fiduciaries (with instructions)

 

 

 

Instructions

 

New for 2016

Partnerships – The filing deadline for partnership returns is moving from the fifteenth day of the fourth month to the fifteenth day of the third month following the close of the partnership year (now March 15 for calendar-year filers instead of April 15). Form IT-370-PF now automatically extends the due date for partnerships filing Form IT-204, Partnership Return, for six months instead of five. Since large electing partnerships are already allowed an automatic six-month extension, they no longer need to enter a special condition code when filing Form IT-370-PF.

Estates and trusts – While the filing deadline has not changed from the fifteenth day of the fourth month (April 15 for calendar-year filers), Form IT-370-PF now automatically extends the due date for filing Form IT-205, Fiduciary Income Tax Return, for five and one-half months instead of five.

General information

Purpose – File Form IT-370-PF on or before the due date of the return to get an automatic extension of time to file Form IT-204 or IT-205.

Note: We no longer accept a copy of the federal extension form in place of Form IT-370-PF.

If you have to file Form Y-206, Yonkers Nonresident Fiduciary Earnings Tax Return, the time to file is automatically extended when you file

Form IT-370-PF. For more information on who is required to file Form Y-206, see the instructions for the form.

You may file Form IT-204 or Form IT-205 any time before the extension period ends. An extension of time to file Form IT-204 or IT-205 will not extend the time for filing New York State income tax returns of partners of a partnership or the beneficiaries of an estate or trust.

When to file – File a completed Form IT-370-PF on or before the filing deadline for the return (extension applications filed after the filing deadline for the return are invalid). Generally, the filing deadline is:

Partnerships – the fifteenth day of the third month following the close of your tax year (for calendar-year filers, March 15, 2017)

Estates and trusts – the fifteenth day of the fourth month following the close of your tax year (for calendar-year filers, April 18, 2017).

However, you may file Form IT-370-PF on or before June 15, 2017, if you are a nonresident alien estate or trust and you qualify to file your federal and New York State income tax returns on June 15, 2017. See Special condition codes on the back.

How to file – Complete a separate Form IT-370-PF for each partnership (including limited liability companies (LLCs), limited liability investment companies (LLICs), and limited liability trust companies (LLTCs) treated as partnerships), each limited liability partnership and each estate or trust for

which you are requesting an extension of time to file. Form IT-205 filers - Form IT-370-PF must be filed with payment for any tax owed on or before the due date of the return (see the worksheet instructions on the back).

Penalties

Estates and trusts late payment penalty – If an estate or trust does not pay the income tax liability when due (determined with regard to any valid extension of time to pay), it will have to pay a penalty of ½ of 1% of the unpaid amount for each month or part of a month it is not paid, up to a maximum of 25%. The penalty will not be charged if reasonable cause for paying late can be shown. This penalty is in addition to the interest charged for late payments.

Reasonable cause will be presumed with respect to the addition to tax for late payment of income tax if the requirements relating to extensions of time to file have been complied with, the balance due shown on the income tax return, reduced by any sales or use tax that is owed, is no greater than 10% of the total New York State, New York City, and Yonkers tax shown on the income tax return, and the balance due shown on the income tax return is paid with the return.

Estates and trusts late filing penalty – If you do not file Form IT-205 when due (determined with regard to any extension of time to file), or if you do not file Form IT-370-PF on time and obtain an extension of time to file, you will have to pay a penalty of 5% of the income tax due for each month, or part of a month, the return is late up to a maximum of 25%.

However, if the return is not filed within 60 days of the time prescribed for filing a return (including extensions), this penalty will not be less than the lesser of $100 or 100% of the amount required to be shown as income tax due on the return reduced by any income tax paid and by any credit that may be claimed. The penalty will not be charged if reasonable cause for filing late is shown.

Partnerships – A partnership that is required to file Form IT-204 and: (1) fails to file that return on time, including any extension of time, or (2) files a return that is incomplete and fails to show the information required under section 658(c), will have to pay a penalty. The penalty will be imposed for each month or part of a month, up to a maximum of 5 months, that the failure continues. The amount of the penalty for each month will be calculated by multiplying $50 by the total number of partners in the partnership during any part of the partnership’s tax year who were also subject to New York personal income tax during any part of the tax year. The penalty will not be charged if reasonable cause for filing late is shown.

Interest – Interest will be charged on any income tax or sales or use tax that is not paid on or before the due date of your return, even if you received an extension of time to file your return. Interest is a charge for the use of money and in most cases may not be waived. Interest is compounded daily and the rate is adjusted quarterly.

Detach (cut) here ▼    Do not submit with your return.

Department of Taxation and Finance

 

 

 

 

Application for Automatic Extension of

Mark an X in one box for the form you will be filing: IT-370-PF

Time to File for Partnerships and Fiduciaries

Form IT-204

Form IT-205

 

Paid preparer? Mark an X in the box and complete the back

 

 

 

 

 

 

Enter your 2‑character special condition code

 

Partnership, estate or trust ID number (EIN)

Date fiscal year begins

Date fiscal year ends

 

 

 

 

 

 

  if applicable (see instructions)

Name of partnership, estate, or trust

 

 

Mark an X in the box for each tax that the estate or trust is subject to:

 

 

 

 

 

 

 

 

New York State tax

New York City tax

Yonkers tax

Name and title of fiduciary

 

 

 

 

 

 

 

 

 

Dollars

Cents

Mailing address (number and street or PO box) of partnership or fiduciary

Apartment number

 

 

 

 

 

 

1 Sales and use tax

00

City, village, or post office (see instructions)

State

ZIP code

 

 

 

 

 

 

2 Total payment

............

00

E-mail:

 

 

 

 

 

3711160094

IT-370-PF (2016) (back)

Instructions (continued)

Fee for payments returned by banks – The law allows the Tax Department to charge a $50 fee when a check, money order, or electronic payment is returned by a bank for nonpayment. However, if an electronic payment is returned as a result of an error by the bank or the department, the department won’t charge the fee. If your payment is returned, we will send a separate bill for $50 for each return or other tax document associated with the returned payment.

Privacy notification

See our website or Publication 54, Privacy Notification.

Specific instructions

Filling in your form – Please use black ink (and never use red ink) when making entries on this form.

Name and address box – Partnerships must enter the employer identification number (EIN), name, and address of the partnership. Estates and trusts must enter the estate’s or trust’s EIN and the name of the estate or trust exactly as shown on federal Form SS-4. Also enter the address of the fiduciary or firm in the spaces provided.

To ensure that any payment made with this extension is properly credited, this information must agree with the information on the return you are filing. Failure to provide an identification number may invalidate this extension. If the entity does not have an EIN but has applied for one, enter applied for.

Foreign addresses – Enter the information in the following order: city, province or state, and then country (all in the City, village, or post office box). Follow the country’s practice for entering the postal code. Do not abbreviate the country name.

If the entity files on a fiscal year basis, enter the beginning and ending dates of the fiscal year in the appropriate boxes.

Special condition codes – If you are a nonresident alien estate or trust and your filing due date is June 15, 2017, and you need an additional five and one-half months to file (November 30, 2017), enter special condition code E4. Also enter special condition code E4 on Form IT-205.

Line 4 – Enter the amount of sales or use tax, if any, that you will be required to report when you file your 2016 return. See the instructions for your NYS fiduciary income tax return for information on how to compute your sales and use tax. Also enter this amount on line 1 on the front of this form.

Line 6 – Enter the amount of 2016 income tax already paid that you expect to enter on Form IT-205, line 37 (excluding the amount paid with Form IT-370-PF).

Worksheet

1New York State income tax liability for 2016 . 1.

2

New York City income tax liability for 2016 ....

2.

3

Yonkers income tax liability for 2016

3.

4Sales and use tax due for 2016 (enter this

 

amount here and on line 1 on the front)

4.

 

 

5

Total taxes (add lines 1 through 4)

5.

6

Total 2016 income tax already paid

6.

7

Total payment (subtract line 6 from line 5 and enter this

 

  amount here and on line 2 on the front). If line 6 is more

 

  than line 5, enter 0

7.

Note: You may be subject to penalties if you underestimate the balance due.

How to claim credit for payment made with this form

Include the amount paid with Form IT-370-PF on Form IT-205, line 30. For more information, see the line instructions for Form IT-205.

Where to file

If you are enclosing a payment with this extension request, mail Form IT-370-PF with your payment to:

EXTENSION REQUEST

PO BOX 4125

BINGHAMTON NY 13902-4125

Worksheet instructions

Form IT-205 filers only – Complete the following worksheet to determine if the estate or trust must make a payment with Form IT-370-PF.

If you enter an amount on lines 1, 2, or 3 of this worksheet, mark an X in the appropriate box on the front of this form.

Line 1 – Enter the amount of your New York State income tax liability for 2016 that you expect to enter on Form IT-205, line 14.

Line 2 – Enter the amount of your New York City income tax liability for 2016 that you expect to enter on Form IT-205, line 23.

Line 3 – Enter the amount of your Yonkers income tax liability for 2016 that you expect to enter on Form IT-205, lines 25 through 27.

Detach (cut) here ▼   

If not enclosing a payment with this extension request, mail Form IT-370-PF to:

EXTENSION REQUEST - NR

PO BOX 4126

BINGHAMTON NY 13902-4126

For information about private delivery services, see Publication 55, Designated Private Delivery Services.

Need help?: Visit our website at www.tax.ny.gov (for information, forms, and online services)

Personal Income Tax Information Center:

(518) 457-5181

To order forms and publications:

(518) 457-5431

Do not submit with your return.

IT-370-PF (2016) (back)

 

 

When completing this section, enter your New York tax preparer registration

Payment options – An estate or trust must make full payment of any balance

identification number (NYTPRIN) if you are required to have one. If you are

due with this automatic extension of time to file. Pay by check or money order

not required to have a NYTPRIN, enter in the NYTPRIN excl. code box one

made payable in U.S. funds to New York State Income Tax and write the

of the specified 2-digit codes listed below that indicates why you are exempt

estate’s or trust’s EIN and 2016 Income Tax on it.

 

 

from the registration requirement. You must enter a NYTPRIN or an exclusion

Paid preparers – Under the law, all paid preparers must sign and complete

code. Also, you must enter your federal preparer tax identification number

(PTIN) if you have one; if not, you must enter your social security number.

the paid preparer section of the form. Paid preparers may be subject to civil

 

 

 

 

 

 

 

 

 

and/or criminal sanctions if they fail to complete this section in full.

 

 

 

 

 

Code

Exemption type

Code

Exemption type

 

 

 

 

 

 

 

 

01

Attorney

02

Employee of attorney

Paid preparer must complete ( see instructions )

Date:

 

 

 

 

Preparer’s signature

Preparer’s NYTPRIN

 

 

 

 

 

03

CPA

04

Employee of CPA

<![endif]>▼

 

 

 

 

 

 

 

05

PA (Public Accountant)

06

Employee of PA

 

 

 

 

 

 

 

 

 

 

 

Firm’s name ( or yours, if self-employed )

Preparer’s PTIN or SSN

 

 

07

Enrolled agent

08

Employee of enrolled

 

 

 

 

 

 

 

 

 

 

 

agent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

09

Volunteer tax preparer

10

Employee of business

Address

Employer identification number

 

 

 

 

 

 

 

 

 

 

 

preparing that

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

business’ return

 

 

 

 

 

 

 

 

 

 

 

 

 

NYTPRIN

 

See our website for more information about the tax preparer

 

 

excel code

 

 

 

registration requirements.

 

 

E-mail:

 

 

 

 

 

 

 

 

 

 

 

3712160094

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