Electronic Filing Information for Real Estate Withholding Agents

Starting January 1, 2008, we are implementing a pilot program for electronic submission of real estate withholding data for real estate withholding agents that submit more than 250 information returns annually. Use our Secure Web Internet Filing Transfer (SWIFT) to submit your files.

• Benefits of using SWIFT
• Submit your data through SWIFT
• Learn more about SWIFT
• SWIFT Guide for Real Estate Withholding - Use this guide to assist you in filing real estate withholding forms electronically.
• 1023-R - Real Estate Withholding Electronic Submission Requirements
  • Example of how to create a Microsoft Excel file containing the real estate withholding data from Form 593.
• Form 593-V - Voucher for Real Estate Withholding Electronic Submission. Use this voucher to mail your payment, beginning January 1, 2008.

Benefits of using SWIFT

Three benefits of using SWIFT to submit real estate data are:

• Proof of receipt – We provide acknowledgement that we received your file.
• Opportunity to correct errors – Our system performs up-front edits on the file. We let you know if we detect errors, what those errors are, and allow you time to make any corrections. This reduces subsequent contact with withholding agents to fix mistakes.
• Safe – We use the latest technology to ensure the security and privacy of all taxpayer data.

Submit your data through SWIFT

Follow these steps to submit real estate withholding data through SWIFT:

1. Prepare the seller’s 2008 Form 593, Real Estate Tax Withholding Statement as you normally would.
2. Provide the seller with a copy of their 2008 Form 593.
3. Transfer the information from Form 593 to a Comma Delimited (CSV) file.
   • For Microsoft Excel users, this is a spreadsheet “saved as” CSV.
4. Transmit the file to us via SWIFT.
5. Retrieve your receipt file that tells you we received the file.
6. Retrieve your acknowledgement (ACK) file that tells you if we have accepted the file for further processing or if we have found an error.
7. Correct any errors and retransmit the file to us. The file is not considered accepted until we issue an accepted ACK.
8. Submit the real estate withholding payment to us using Electronic Funds Transfer (EFT), our preferred method of receiving payments.

Email WSCS.SWIFT@ftb.ca.gov if you have questions or comments.