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OCEA - You're invited! Please Join Us & Invite Your Colleagues, Too!

February 2021 Virtual General Membership Meeting

What: Orange County Escrow Association

When: Wednesday, February 17, 2021 - 5:30-7:00PM PST

Speaker: A representative of the California Franchise Tax Board

You asked, and the FTB listened! They’ve compiled a list of The Most Common Issues they've seen on 593s they received in 2020, and are tailoring this presentation to address questions OCEA's members have been asking.

Here’s a chance to get the scoop straight from the source, and to make sure you really do understand the process, learn what’s new for 2021, and the consequences for not filing Forms 593 properly or timely!

Here are some of the topics we’ve asked them to cover:

Celebrating 70 Years of Unlocking Education

  • Withholding Agent Responsibilities - what does the FTB consider escrow’s “Due Diligence?”
  • Does EVERY blank in Part VI need to have a number in it in order for the Seller to claim a loss or gain?
  • Why does the FTB care if the Seller is a Grantor or Nongrantor Trust?
  • Is the escrow closing date required on Line 32 if there’s no remittance?
  • If there’s no remittance, is the sale price still required on Line 33?
  • Foreign Seller Issues - no SSN/ITIN?
  • Sellers with 0.00% ownership - do any boxes on Side 1 or Side 3 need to be marked?
  • Are Seller signatures required on Amended 593s?
  • Installment Sales - what if the principals INSTRUCT escrow to withhold at 3 1/3% of the sales price, when the FTB’s instructions say that’s NOT to be done?
  • Installment Sales - what if the seller assigns and sells a portion of the Note?
  • And more, as long as there’s time!

Many Thanks to our Meeting Sponsors:

Exeter 1031 Exchange Services LLC   Coast 2 Coast Signings, Inc.

Price: $10.00
Reservations through Eventbrite only. A reservation made is a reservation paid - nonrefundable.
Eventbrite Tickets - Click here!

Follow the prompts to enter your name, etc.
You’ll see details including the small fee that will be added to your card for this convenience
You will be sent a link to join the meeting
Reservations close at NOON PST 02/16/2021

Debi Peters