Forgot Password? | Print Page | Sign In | Create User Profile
News & Press: Industry News

CEA Webinar Recording: FTB Withholding Changes: They are Coming! Are you in the Loop?

Tuesday, January 21, 2020  
Share |

The CEA webinar on the FTB Withholding Changes was recorded on December 9 and is now available to order.

Beginning 1/1/20, the FTB will now require all title escrow professionals to REPORT ALL SALES, regardless of whether or not CalFIRPTA withholding applies.

  • The FTB is now requiring “seeing the work” for every seller, on every sales transaction, including the seller’s computation of any loss.

(NOTE: As in the past, there MAY be an FTB exception for sales under $100k, but the FTB has not specifically stated this to be true and title companies would be wise to proceed with caution.)

This New Requirement May Affect CURRENT Transactions:

  • Title company escrow officers that currently have open transactions in the works that are meant to close in December but could roll over into 2020 would be affected.

  • Open transactions already scheduled to close after 1/1/20 would be affected.

  • Prior versions of FTB forms will NOT work for 2020 closings.

For additional details: Purchase the California Escrow Association's Webinar recording now by clicking here. Further information can also be found on the FTB website here, or by viewing the FTB explanatory video here.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851