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Changes to 2008 Forms

Updates to 2008 Form FTB 3586, Payment Voucher for Corporation Electronically Filed (e-filed) Returns

The revised Internet version is available for download as of 01/29/2009.

Revision Details: The current FTB 3586 instructions indicate that corporations that meet certain requirement must remit all of their payments through EFT rather than by paper checks. These instructions are not clearly stating that the first payment of $20,000 or total tax liability of $80,000 does not need to be submitted electronically. We revised the instructions to clarify that once the corporation meets the EFT threshold requirements, all subsequent payments regardless of amount, tax type, or taxable year must be remitted electronically to avoid the 10% non-compliance EFT penalty.

  • This update is located on page 1, column 1, Electronic Funds Transfer (EFT) paragraphs.

Previously read:

Corporations that meet certain requirements must remit all of their payments through EFT rather than by paper checks or money orders to avoid the EFT penalty.

Corporations that remit an estimated tax payment or extension payment in excess of $20,000 or have a total tax liability in excess of $80,000 must remit all of their payments through EFT. The Franchise Tax Board (FTB) will notify corporations that are subject to this requirement. Those that do not meet these requirements and wish to participate on a voluntary basis may do so.

If the corporation pays through EFT, do not send the payment voucher. For more information, go to our website at ftb.ca.gov and search for EFT, call 916.845.4025, or get FTB Pub. 3817, Electronic Funds Transfer Program Information Guide.

Revised to:

Corporations that remit an estimated tax payment or extension payment in excess of $20,000 or that have a total tax liability in excess of $80,000 must remit all of their payments through EFT. Once a corporation meets the threshold, all subsequent payments regardless of amount, tax type, or taxable year must be remitted electronically to avoid the 10% non-compliance EFT penalty. The Franchise Tax Board (FTB) notifies corporations that are subject to this requirement. Those that do not meet these requirements and wish to participate on a voluntary basis may do so.

If the corporation pays through EFT, do not send the payment voucher. For more information, go to our website at ftb.ca.gov and search for eft, call 916.845.4025, or get FTB Pub. 3817, Electronic Funds Transfer Program Information Guide.

Back to Tax Form Changes for 2008

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