California Form 593-C - Real Estate Withholding Certificate For Individual Sellers - 2004
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Real Estate Withholding Certificate
CALIFORNIA FORM
2004
for Individual Sellers
593-C
Part I – Seller’s Information
Return this form to your escrow company.
Name (including spouse, if applicable - see instructions - type or print)
Social Security Number (SSN)
Spouse’s SSN (if applicable)
Address
Private Mailbox no.
Note: If you do not furnish your tax ID
number this certificate is void.
City, State, ZIP Code
Daytime Number
(
)
Property address (if no street address, provide parcel number and county)
Ownership Percentage
.
%
Read the following and check the appropriate boxes. (See line-by-line notes in the instructions.)
Part II – Certifications which fully exempt the sale from withholding:
YES NO
1. Does the property qualify as the seller's principal residence within the meaning of Internal Revenue Code (IRC) Section 121? . . . . . . . . . . . .
2. Will the seller have a loss or zero gain for California income tax purposes on this sale? (To check “YES”, you must complete
Form 593-L, Real Estate Withholding — Computation of Estimated Gain or Loss , and have a loss or zero gain on line 16.) . . . . . . . . . . . . . .
3. Is the property being compulsorily or involuntarily converted and does the seller intend to acquire property that is similar or related
in service or use to qualify for nonrecognition of gain for California income tax purposes under IRC Section 1033? . . . . . . . . . . . . . . . . . . . .
4. Will the transfer qualify for nonrecognition treatment under IRC Section 351 (transfer to a corporation controlled by the
transferor) or IRC Section 721 (contribution to a partnership in exchange for a partnership interest)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part III – Certifications that may partially or fully exempt the sale from withholding:
5. Will the transfer qualify as a simultaneous like-kind exchange within the meaning of IRC Section 1031? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Escrow Officer: If the seller checked “YES,” withholding is still required on any proceeds disbursed to the seller from escrow.
6. Will the transfer qualify as a deferred like-kind exchange within the meaning of IRC Section 1031? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note: The intermediary or accommodator is required to withhold on any boot (cash or cash equivalent) it distributes to the
seller. If the exchange does not take place, or if the exchange does not qualify for nonrecognition treatment, the intermediary
or accommodator will withhold 3
1
/
percent of the total sales price.
3
7. Will the transfer of this property be an installment sale that you will report as such for California tax purposes and has the
buyer agreed to withhold on each principal payment instead of withholding the full amount at the time of transfer? . . . . . . . . . . . . . . . . . . . .
Escrow Officer: If the seller checked “YES,” withholding should be reduced to 3
1
/
percent of the down payment only if the
3
buyer has completed and signed Form 593-I, Real Estate Withholding Installment Sale Agreement . Form 593-I must be
attached to Form 593-B, Real Estate Withholding Tax Statement , when you send the withholding to the Franchise Tax Board.
Part IV – Seller's Signature
Under penalties of perjury, I hereby certify that the information provided above is, to the best of my knowledge, true and correct. If conditions change, I
will promptly inform the withholding agent. I understand that completing this form does not exempt me from filing a California income or franchise tax
return to report this sale.
Seller's name (type or print) _____________________________________________________________________________________________________
Seller's signature _________________________________________________________________________________ Date: _______________________
Spouse's name (if applicable) ____________________________________________________________________________________________________
Spouse's signature (if applicable) ____________________________________________________________________ Date: _______________________
Seller:
If you checked “YES” to any question in Part II, you are exempt from real estate withholding.
If you checked “YES” to any question in Part III, you may qualify for a partial or complete withholding exemption.
If you checked “NO” to all of the questions in Part II and Part III, the withholding will be 3
1
/
percent of the total sales price.
3
If you are withheld upon, the withholding agent should give you two copies of Form 593-B, Real Estate Withholding Tax Statement . Attach one
copy to the lower front of your California income tax return and keep the other copy for your records.
Withholding Agent:
If you must withhold, complete Form 593-B, Real Estate Withholding Tax Statement , give two copies to the seller, and send one copy
to the Franchise Tax Board with the withholding payment and Form 593, Real Estate Withholding Remittance Statement . Refer to
Form 593 and Form 593-B instructions for more information.
593C03104
Form 593-C
(REV 12-2003)
C2
For Privacy Act Notice, get form FTB 1131 (Individuals only).
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