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Free Delaware 5403 PDF Template

The Delaware 5403 form is a required document for individuals and entities involved in the transfer of real estate in Delaware. This form must be completed and submitted at the time of recording any conveyance, ensuring compliance with state tax regulations. It captures essential information about the property, the seller, and the applicable tax obligations associated with the transaction.

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Outline

The Delaware 5403 form is an essential document for anyone involved in real estate transactions within the state. This form must be completed whenever property is transferred, ensuring that all necessary information is recorded at the time of the transaction. It requires details about the property being sold, such as its description, address, and tax parcel number. Additionally, the form identifies the seller, whether they are an individual, corporation, or other entity, and how they acquired the property, whether through purchase, gift, or inheritance. The form also addresses tax obligations, including the calculation of any real estate tax due based on the sale price and gain realized from the transaction. It's crucial to note that the Delaware Division of Revenue mandates the completion of this form to determine if any taxes are owed at the time of recording the deed. Failure to comply can result in penalties, making it vital for sellers to understand the requirements of Form 5403 thoroughly.

Preview - Delaware 5403 Form

DELAWARE

DIVISION OF REVENUE

FORM

Page 1

REAL ESTATE TAX RETURN

DECLARATION OF ESTIMATED INCOME TAX

Revision 20240830

REW-EST

Form REW-EST must be completed for all conveyances, and must be presented at the time of recording.

ADDRESS OF THE PROPERTYDESCRIPTION OF THE PROPERTY

TRANSFEROR/SELLER’S NAME; SSN OR EIN; AND ADDRESS TO WHICH CORRESPONDENCE IS TO BE MAILED AFTER SETTLEMENT

Enter only one name and SSN or EIN per return. If more than one transferor/seller, you MUST complete Form REW-SCH. If the transferor/seller is a pass-through

entity, list the EIN of the pass-through entity and complete Form REW-SCH, listing each non-resident member or stockholder and their share of the tax being

paid with the return. Failure to complete Form REW-SCH will delay the processing of the individual income tax returns led by the non-resident members or

stockholders.

If any box in Part 5 is checked, DO NOT complete Parts 6, 7 and 8 below. No payment is due at this time.

TRANSFEROR/SELLER IS:

IF APPLICABLE, CHECK APPROPRIATE BOX. (Check no more than one box.)

COMPUTATION OF PAYMENT AND TAX TO BE WITHHELD (See instructions.)

Check this box if the transferor/seller

is reporting gain under the installment

method. No tax is payable at this time.

NOTE: If completing this section, when you recognize any gain arising from the sale

of property in the State of Delaware, you must report and remit the tax due to the

State of Delaware on that transaction.

NOTE: If Part 6 is not lled out or is incomplete, the required 6.6% or 8.7% will be withheld from

the net proceeds at settlement and submitted to the Division of Revenue as required by law.

TRANSFEROR OR SELLER ACQUIRED PROPERTY BY:

TAXPAYER ID

ADDRESS

ADDRESSFIRST NAME

LAST NAME

TOTAL SALES PRICE

DELAWARE ESTIMATED INCOME TAX PAID (See instructions)

LESS SELLING EXPENSES/REDUCTIONS TO SALE PRICE

ADJUSTED BASIS OF PROPERTY OR LIENS PAID AT SETTLEMENT

DELAWARE ESTIMATED INCOME TAX DUE - Multiply line 6e by 8.7% for C corp., and by 6.6% for all others

NET SALES PRICE (Subtract Line 6b from Line 6a)

TOTAL GAIN (Subtract line 6d from line 6c)

TAX PARCEL NO. DATE OF TRANSFERNEW CASTLE

Individual or Revocable Living Trust

Transferor/seller is a resident (a) individual, (b) pass-through entity or (c) corporation, and not subject to withholding under 30 Del. C §§ 1126, 1606 or 1909;

Sale or exchange exempt from gain realization;

Gain realized excluded from income for tax year of sale or exchange;

Sale exempt due to foreclosure. (See Instructions)

PurchasePartnership Foreclosure / Repossession

Corporation GiftS Corporation Other

Trust or Estate InheritanceLimited Liability Company

Business Trust 1031 ExchangeOther

KENT SUSSEX

ADDRESS 2

CITY

STATE

ZIP CODE

PART

DFREWEST2024019999V1

AUTHORIZED SIGNATURE

TITLEPRINT NAME

DATE

Delaware Division of Revenue

820 N. French Street

PO Box 8763

Wilmington, DE 19899-8763

MAIL COMPLETED FORM TO:

Under penalty of perjury, I declare that I have examined this return and to the best of my knowledge and belief, it is true, correct and complete.

If prepared by a person other than the transferor/seller, the declaration is based on all information of which the preparer has any knowledge.

Transferor/Seller, please sign and print full name and title (if any):

RESET

↓ Delaware 5403 PDF

Form Details

Fact Name	Detail
Form Purpose	The Delaware 5403 form is used to declare estimated income tax related to real estate transactions.
Required Submission	This form must be completed for all property conveyances and presented at the time of recording.
Governing Laws	The form is governed by Title 30 of the Delaware Code, specifically Sections 1126, 1606, and 1909.
Transferor/Seller Identification	Transferor or seller must provide their name, Social Security Number (SSN) or Employer Identification Number (EIN), and mailing address.
Residency Status	Transferors/sellers must indicate their residency status, which affects tax withholding requirements.
Tax Rate	The tax rate for real estate transactions is set at 6.75% of the gain realized from the sale of the property.
Payment Due	Tax payments are due at the time of recording the deed, unless certain conditions exempt the transferor from payment.
Installment Method	If applicable, the transferor/seller can report gain under the installment method, delaying tax payment until gains are recognized for federal tax purposes.
Signature Requirement	The transferor/seller must sign the form, affirming that the information provided is true and complete.
Deadline for Submission	The completed form and any associated tax must be submitted to the Recorder’s Office before the deed can be recorded.

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Free Delaware 5403 PDF Template

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