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Form 433-D for New Jersey: What You Should Know
This form is required if the nonresident estate or trust has income or capital derived from New Jersey sources. Your nonresident estate or trust must have filed at least one of the three previous Bars with New Jersey in prior tax years if the FAR is not filed because a state court has determined that the trustee of the nonresident estate or trust is disqualified. You must complete this new “Fiduciary Form NJ-1041” (“FAR”) which also is required to be filed with Social Security Administration by the nonresident or by the nonresident custodian of the nonresident estate or trust. The “Fiduciary Form NJ-1041” must be filed on Form 433-D and includes all information you need to file the FAR. See page 2 on the IRS publication that describes FAR instructions and schedules. For details of NY nonresident estates and trusts see section 2 or section 7 of NY Administrative Rule R.A.3. New Jersey nonresident estates and trusts that qualified based on Section 530A or 1031 must file Form 543 with the New York Internal Revenue Service (see section 936), or Form 544 with the State of New York (see section 812(b)(3). Nonresident estates and trusts are taxed under New Jersey law but with the income tax treatment and filing procedure of the host state. The host state has the duty to ensure that the nonresident estate or trust files Form 706 or Form 709 according to the rules of New Jersey. For further information about the nonresident/foreign estate or trust tax law that applies on an estate or trust, refer to the section of this website that describes the nonresident estate or trust law. See the instructions for the IRS form to determine if your non-resident estate or trust meets all the requirements for the FAR and Form 1099-G. You are required to file Form 433-D (Rev. 8-2022) if you do not own property with a New Jersey resident or if you can show that the property is not in its physical possession on March 31; or. Have been in existence since December 30, 1971, and you do not own property with a New Jersey resident. 2. General. You may not have as much income or wealth as the FAR might indicate if you do not itemize deductions. The filing of Form 433-D is done by the IRS to collect any amounts you do not report.
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