3711190094
IT-370-PF
Department of Taxation and Finance
Application for Automatic Extension of Time to
File for Partnerships and Fiduciaries
(
with instructions
)
General information
Purpose – File Form IT-370-PF on or before the due date
of the return to get an automatic extension of time to le
Form IT-204, Partnership Return, or IT-205, Fiduciary Income Tax Return.
Form IT-370-PF automatically extends the due date for ling as follows:
• Form IT-204 - six months
• Form IT-205 - ve and one-half months
Note: We no longer accept a copy of the federal extension form in place of
Form IT-370-PF.
If you have to le Form Y-206, Yonkers Nonresident Fiduciary Earnings
Tax Return, the time to le is automatically extended when you le
Form IT-370-PF. For more information on who is required to le Form Y-206,
see the instructions for the form.
You may le Form IT-204 or Form IT-205 any time before the extension
period ends. An extension of time to le Form IT-204 or IT-205 will not
extend the time for ling New York State income tax returns of partners of a
partnership or the beneciaries of an estate or trust.
When to le – File a completed Form IT-370-PF on or before the ling
deadline for the return (extension applications led after the ling deadline for
the return are invalid). Generally, the ling deadline is:
• Partnerships – the fteenth day of the third month following the close of
your tax year (for calendar-year lers, March 16, 2020)
• Estates and trusts – the fteenth day of the fourth month following the
close of your tax year (for calendar-year lers, April 15, 2020).
However, you may le Form IT-370-PF on or before June 15, 2020, if you
are a nonresident alien estate or trust and you qualify to le your federal
and New York State income tax returns on June 15, 2020. See Special
condition codes on the back.
How to le – Complete a separate Form IT-370-PF for each partnership
(including limited liability companies (LLCs), limited liability investment
companies (LLICs), and limited liability trust companies (LLTCs) treated as
partnerships), each limited liability partnership and each estate or trust for
which you are requesting an extension of time to le. Form IT-205 lers -
Form IT-370-PF must be led with payment for any tax owed on or before the
due date of the return (see the worksheet instructions on the back).
Penalties
Estates and trusts late payment penalty – If an estate or trust does not
pay the income tax liability when due (determined with regard to any valid
extension of time to pay), it will have to pay a penalty of ½ of 1% of the
unpaid amount for each month or part of a month it is not paid, up to a
maximum of 25%. The penalty will not be charged if reasonable cause for
paying late can be shown. This penalty is in addition to the interest charged
for late payments.
Reasonable cause will be presumed with respect to the addition to tax for late
payment of income tax if the requirements relating to extensions of time to le
have been complied with, the balance due shown on the income tax return,
reduced by any sales or use tax that is owed, is no greater than 10% of the
total New York State, New York City, and Yonkers tax shown on the income
tax return, and the balance due shown on the income tax return is paid with
the return.
Estates and trusts late ling penalty – If you do not le Form IT-205 when
due (determined with regard to any extension of time to le), or if you do not
le Form IT-370-PF on time and obtain an extension of time to le, you will
have to pay a penalty of 5% of the income tax due for each month, or part of
a month, the return is late up to a maximum of 25%.
However, if the return is not led within 60 days of the time prescribed for
ling a return (including extensions), this penalty will not be less than the
lesser of $100 or 100% of the amount required to be shown as income tax
due on the return reduced by any income tax paid and by any credit that may
be claimed. The penalty will not be charged if reasonable cause for ling late
is shown.
Partnerships – A partnership that is required to le Form IT-204 and:
(1) fails to le that return on time, including any extension of time, or (2) les
a return that is incomplete and fails to show the information required under
section 658(c), will have to pay a penalty. The penalty will be imposed for
each month or part of a month, up to a maximum of 5 months, that the failure
continues. The amount of the penalty for each month will be calculated by
multiplying $50 by the total number of partners in the partnership during any
part of the partnership’s tax year who were also subject to New York personal
income tax during any part of the tax year. The penalty will not be charged if
reasonable cause for ling late is shown.
Interest – Interest will be charged on any income tax or sales or use tax that
is not paid on or before the due date of your return, even if you received an
extension of time to le your return. Interest is a charge for the use of money
and in most cases may not be waived. Interest is compounded daily and the
rate is adjusted quarterly.
Fee for payments returned by banks – The law allows the Tax Department
to charge a $50 fee when a check, money order, or electronic payment is
returned by a bank for nonpayment. However, if an electronic payment is
returned as a result of an error by the bank or the department, the department
won’t charge the fee. If your payment is returned, we will send a separate bill
for $50 for each return or other tax document associated with the returned
payment.
Instructions
Department of Taxation and Finance
Application for Automatic Extension of
Time to File for Partnerships and Fiduciaries
IT-370-PF
Partnership, estate or trust ID number (EIN) Date scal year begins Date scal year ends
Name of partnership, estate, or trust
Name and title of duciary
Mailing address (number and street or PO box) of partnership or duciary Apartment number
City, village, or post ofce (see instructions) State ZIP code
Email:
Mark an X in one box for the form you will be ling:
Form IT-204 Form IT-205
Dollars Cents
New York State tax New York City tax Yonkers tax
1
Sales and use tax
.......
0 0
2 Total payment ...........
0 0
Mark an X in the box for each tax that the estate or trust is subject to:
Paid preparer? Mark an X in the box and complete the back ............
Enter your 2-character special condition code
if applicable (see instructions) ..........................................
▼
Detach (cut) here ▼ Do not submit with your return.
