January 9, 2020
6:00 PM
General Membership Meeting
SPECIAL EVENT - FTB in Person!
Talking about the new 593 Form and Requirements
Come one, come all, bring a friend, colleague or realtor
to discuss this important topic.
Our real estate withholding forms changed! Based on feedback from our stakeholders, revisions were made to the regulations impacting the real estate withholding community.
The feedback we received indicated many of our real estate withholding forms caused confusion. In an effort to simplify and improve our process for our customers, we consolidated Forms 593, 593-C, 593-E, and 593-I. Beginning January 1, 2020, the new Form 593, Real Estate Withholding Statement must be completed and signed during escrow. For more information, see Real Estate Withholding Statement Instructions.
Form 593 will be submitted to Franchise Tax Board (FTB) whenever a sale of real property occurs. This form is due to us and the seller by the 20th day of the month following the close of the transaction. There is now one form, one due date, and one consistent filing action. (Form 593-V, Payment Voucher for Real Estate Withholding must still be included with any payment sent to FTB.)
Use these forms for tax year beginning January 1, 2020. To download our forms and publications, go to ftb.ca.gov/forms.
Click Here for the FTB YouTube Video
The Grand
Long Beach
4101 E Willow St.
Long Beach, CA 90815
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our way through the changes on our horizon!
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Escrow Institute of California recommends that you consult with your management or legal counsel before implementing any policies and procedures that will affect your business.
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