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Composite Statement Instructions for Form 592-B, Resident and Nonresident Withholding Tax Statement

In addition to requirements imposed by the Internal Revenue Service (IRS) for composite statements, the California Franchise Tax Board (FTB) imposed requirements to include the following Form 592-B information to the recipient on one document. A composite statement is an acceptable Form 592-B substitute only if the recipient’s payment type and tax withheld from it are as clear as if you furnished Form 592-B itself.

Do not file a composite statement with the IRS or FTB. As the IRS requires, provide it to the recipient on or before February 15 of the year following the calendar year of payment.

To create a composite statement acceptable for California purposes, you must:

  • Designate each statement separately. (For example: 1099-INT statement information, 1099-DIV statement information, etc.)
  • Include in each statement all the requisite Form 592-B information.
  • State clearly in the composite statement that both federal and state information is reported.
  • Locate and block together all Form 592-B information on the statement and separate from any IRS information covering other types of payments included on the form.
  • Place all Form 592-B information after all IRS information.
  • Display prominently at the beginning of Form 592-B information the word California in boldface, then the tax year, and California form number and name.
  • Identify clearly all applicable box captions and numbers, using the same wording and numbering as on the official Form 592-B.
  • Display prominently at the end of Form 592-B information the word, End, in boldface.
  • The composite statement must contain all applicable Form 592-B recipient instructions provided on the front and back of the official Form 592-B. You may provide those instructions on separate sheets of paper.