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MF Global Bankruptcy – Estimate Tax Waiver

On March 23, 2012, Internal Revenue Service (IRS) published IR 2012-37 providing relief to farmers and fishermen affected by the MF Global bankruptcy.

As an unusual circumstance, this relief is available through California’s existing estimate tax waiver process as described below.

How to request a waiver of the estimate tax penalty

If you have not yet filed the return, complete Form 5805F. On line 16, state the reason for the waiver request is “MF Global.” The form provides detailed instructions on how to complete line 16. Unlike federal, you may e-file your California state tax return.

Important - In order for us to process your return correctly, you must fill in the circle on either:

  • Form 540, line 113
  • Long Form 540NR, line 123
  • Form 541, line 42

If you already filed the return, complete Form 5805F, line 16, stating the reason for the waiver request is “MF Global.” The form provides detailed instructions on how to complete line 16. You can fax your waiver request to 916.845.9300 or mail it to FRANCHISE TAX BOARD, PO BOX 942840 SACRAMENTO, CA 94240-0040.

Contact us

For estimate tax waiver inquiries, call  us weekdays from 7 a.m. to 5 p.m. except state holidays.

  • 800.852.5711
  • 916.845.6500 from outside the U.S.
  • TTY/TDD - 800.822.6268 - Assistance for persons with hearing or speech impairments