Form REW-1-041 "Real Estate Withholding Return for Transfer of Real Property by Sellers That Are Trusts or Estates" - Maine

What Is Form REW-1-041?

This is a legal form that was released by the Maine Department of Administrative and Financial Services - a government authority operating within Maine. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on November 1, 2018;
  • The latest edition provided by the Maine Department of Administrative and Financial Services;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form REW-1-041 by clicking the link below or browse more documents and templates provided by the Maine Department of Administrative and Financial Services.

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Download Form REW-1-041 "Real Estate Withholding Return for Transfer of Real Property by Sellers That Are Trusts or Estates" - Maine

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FORM REW-1-1041
MAINE REVENUE SERVICES
99
2019
REAL ESTATE WITHHOLDING RETURN
FOR TRANSFER OF REAL PROPERTY
*1209800*
By sellers that are trusts or estates
TO BE COMPLETED BY THE BUYER OR OTHER TRANSFEREE REQUIRED TO WITHHOLD
For MULTIPLE SELLERS, complete a separate Form REW-1 for each seller receiving proceeds.
1. Check box below to indicate whether the seller is:
Grantor
Check here if
Other
installment sale
Trust
Trust
Estate
2. Name of seller subject to withholding. Trusts must enter Federal ID Number on line 3.
Seller’s Last Name (estates)
First Name
M.I.
If seller is a trust, enter Trust Name
3. Seller’s social security number (estate) or federal ID Number (trust).
Social security number
Federal ID Number
4.
Address of seller
Number and street
City
State
ZIP Code
5. Name and telephone number of tax matters/contact person or firm.
Name:
Telephone:
6. Date of transfer
7. Total consideration
8. Percentage of total gross
proceeds received by this
.00
$
999999999999
%
seller
9. Physical location and use of property
10. Date property acquired by seller
11. Rate of withholding
12. Amount withheld for this seller:
.00
$
a. 2.5% of sales price
b. Less than 2.5% - attach withholding
certificate (Enter certificate number:
DO NOT SEND CASH -
Make check payable to: Treasurer, State of Maine.
)
Write seller’s social security number or federal ID number on the check.
13. Name of buyer (withholding agent or other transferee)
14. Address of buyer/withholding agent
Number and street
15. Social security number/federal ID number of withholding agent
City
State ZIP Code
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
belief, they are true, correct and complete.
Signature of buyer
Date
Signature of buyer’s spouse if property held jointly
Date
Signature of real estate escrow person
Date
Real estate escrow person’s EIN or social security number
Real estate escrow person’s daytime phone number
Real estate escrow person’s address
Seller’s daytime phone number
NOTE: Payments received by Maine Revenue Services will not be refunded prior to filing of the taxpayer’s Maine income tax return.
(Any claim for refund of an overpayment of this withholding must be filed within three years from the time the return was filed or three years from the time the tax was paid, whichever expires later.)
Mail this form and check to: Maine Revenue Services, Income/Estate Tax Division - REW, P.O. Box 9101, Augusta, ME 04332-9101
Overnight delivery address: Maine Revenue Services, Income/Estate Tax Division - REW, 51 Commerce Drive, Augusta, ME 04330
Telephone: 207-626-8473
Fax: 207-624-5062
realestate.withholding@maine.gov
Rev. 11/18
FORM REW-1-1041
MAINE REVENUE SERVICES
99
2019
REAL ESTATE WITHHOLDING RETURN
FOR TRANSFER OF REAL PROPERTY
*1209800*
By sellers that are trusts or estates
TO BE COMPLETED BY THE BUYER OR OTHER TRANSFEREE REQUIRED TO WITHHOLD
For MULTIPLE SELLERS, complete a separate Form REW-1 for each seller receiving proceeds.
1. Check box below to indicate whether the seller is:
Grantor
Check here if
Other
installment sale
Trust
Trust
Estate
2. Name of seller subject to withholding. Trusts must enter Federal ID Number on line 3.
Seller’s Last Name (estates)
First Name
M.I.
If seller is a trust, enter Trust Name
3. Seller’s social security number (estate) or federal ID Number (trust).
Social security number
Federal ID Number
4.
Address of seller
Number and street
City
State
ZIP Code
5. Name and telephone number of tax matters/contact person or firm.
Name:
Telephone:
6. Date of transfer
7. Total consideration
8. Percentage of total gross
proceeds received by this
.00
$
999999999999
%
seller
9. Physical location and use of property
10. Date property acquired by seller
11. Rate of withholding
12. Amount withheld for this seller:
.00
$
a. 2.5% of sales price
b. Less than 2.5% - attach withholding
certificate (Enter certificate number:
DO NOT SEND CASH -
Make check payable to: Treasurer, State of Maine.
)
Write seller’s social security number or federal ID number on the check.
13. Name of buyer (withholding agent or other transferee)
14. Address of buyer/withholding agent
Number and street
15. Social security number/federal ID number of withholding agent
City
State ZIP Code
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
belief, they are true, correct and complete.
Signature of buyer
Date
Signature of buyer’s spouse if property held jointly
Date
Signature of real estate escrow person
Date
Real estate escrow person’s EIN or social security number
Real estate escrow person’s daytime phone number
Real estate escrow person’s address
Seller’s daytime phone number
NOTE: Payments received by Maine Revenue Services will not be refunded prior to filing of the taxpayer’s Maine income tax return.
(Any claim for refund of an overpayment of this withholding must be filed within three years from the time the return was filed or three years from the time the tax was paid, whichever expires later.)
Mail this form and check to: Maine Revenue Services, Income/Estate Tax Division - REW, P.O. Box 9101, Augusta, ME 04332-9101
Overnight delivery address: Maine Revenue Services, Income/Estate Tax Division - REW, 51 Commerce Drive, Augusta, ME 04330
Telephone: 207-626-8473
Fax: 207-624-5062
realestate.withholding@maine.gov
Rev. 11/18
GENERAL INSTRUCTIONS
PURPOSE OF FORM:
36 M.R.S. § 5250-A requires a buyer to
b. The seller or the buyer has received from the state tax assessor
withhold state income tax when real property located in Maine is
a certificate of waiver stating that no tax is due on the gain from
acquired from a nonresident of Maine. The buyer must withhold
the transfer or that the seller has provided adequate security to
and remit to the state tax assessor 2.5% of the consideration
cover the liability;
received by the transferor (seller) on the transfer. A completed
c. The consideration for the property is less than $50,000; or,
Form REW-1-1041 (for sellers that are trusts or estates), Form
d. Written notification of the withholding requirements has not
REW-1-1040 (for sellers who are individuals or sole proprietors),
been provided to the buyer. The real estate escrow person is
and/or Form REW-1-1120 (for sellers that are corporations) must
liable for the withholding tax unless it is shown that the failure
accompany the remittance.
to notify is due to reasonable cause.
WHO MUST
FILE: A buyer (individual, firm, partnership,
association, society, club, corporation, estate, trust, business trust,
WITHHOLDING CERTIFICATE ISSUED BY THE STATE TAX
receiver, assignee or any other group or combination acting as a
ASSESSOR:
A withholding certificate may be issued by the state
unit) of a Maine real property interest who is required to withhold
tax assessor to reduce or eliminate withholding on transfers of
tax must file the appropriate REW-1 forms. If two or more persons
Maine real property interests by nonresidents. The certificate may
are joint transferees, each must withhold the required amount.
be issued if:
However, the obligation of each will be met if one of the joint
1. No tax is due on the gain from the transfer; or,
transferees withholds and remits to Maine Revenue Services the
total amount required.
2. Reduced withholding is appropriate because the 2.5% amount
exceeds the seller’s maximum tax liability.
If there are multiple sellers, complete a separate REW-1 form for
each seller receiving proceeds from the sale. For example, if the
If one of the above is applicable, apply for the certificate no later
seller is a partnership, complete a separate REW-1 form for each
than five business days prior to closing.
partner receiving proceeds from the disposition. If the partners are
WHEN TO FILE:
A buyer must report and remit the tax withheld to
individuals, complete forms REW-1-1040. Be sure to complete the
Maine Revenue Services with this form within 30 days of the date
appropriate REW-1 form for each seller: REW-1-1040 (individuals,
of transfer of the property.
sole proprietors), REW-1-1041 (trusts, estates), REW-1-1120
(corporations).
WHERE TO FILE:
Send Form REW-1-1041 with payment directly
to: Maine Revenue Services, Income/Estate Tax Division - REW,
EXCEPTIONS:
The buyer is not required to withhold or file this
P.O. Box 9101, Augusta, ME 04332-9101 (do not send payment
return if any of the following applies:
or Form REW-1-1041 with the real estate transfer tax declaration).
a. The seller furnishes to the buyer written certification stating,
Provide one copy of Form REW-1-1041 to the real estate escrow
under penalty of perjury, that as of the date of transfer the
person, one copy to the buyer, and two copies to the seller.
seller is a resident of Maine;
SPECIFIC INSTRUCTIONS
Block
1. Check the appropriate box to indicate the type of seller.
street address. Specify use before the transfer, such
as principal residence, vacation home, rental property,
Block
2. Enter the name of the seller.
commercial, or vacant land.
Block
3. Enter seller’s social security number or federal ID
Block
10. Enter the date the property was acquired by the seller.
number, whichever applies.
Block 11.
Check the appropriate space to indicate the amount
Block
4. Enter the address of the seller.
withheld. If the parties obtained a withholding certificate
from the state tax assessor authorizing a reduced rate
Block
5. Enter name and telephone number of the tax matters
of withholding, enter the certificate number and attach a
contact person or firm.
copy of the certificate to this return.
Block
6. Enter the date of this transfer.
Block 12.
Enter the dollar amount withheld for the seller in block 2.
Block
7. Enter the total consideration (see 36 M.R.S. § 5250-A(1)
Block
13. Enter the name of the withholding agent (buyer).
(A) for definition).
Block
14. Enter the address of the withholding agent (buyer).
Block
8. Enter the percentage of total proceeds received by this
seller.
Block
15. Enter the social security number or federal ID number of
the withholding agent (buyer).
Block
9. Enter the location of the property, including town and
Seller’s Filing Requirement. Generally, a seller that is a nonresident estate or trust must file a Maine income tax return for the tax
year during which the sale of the Maine property occurred. Certain filing exceptions apply. See 36 M.R.S. § 5220(4). The seller
must attach a copy of the REW-1 form to the Maine income tax return to ensure proper credit for real estate withholding paid. For
more information on the Maine filing requirements, see the instructions for Form 1041ME at www.maine.gov/revenue.
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