3574: Special Election for Business Trusts and Certain Foreign Single Member LLCs (2024)
California · FTB · Used for tax years 2024
California Form 3574 records an election for an existing eligible business trust to be classified as a partnership or a previously existing foreign single member LLC to be classified as a disregarded entity, matching its federal classification. It includes the election’s effectiv
Who files this form
California Form 3574 is used to make either of these elections:
- An existing eligible business trust elects to be classified as a partnership, the same as its federal classification.
- A previously existing foreign single member limited liability company elects to be classified as a disregarded entity, the same as its federal classification.
The form refers to instructions for more information about these elections, but those instructions were not provided.
What you'll need
Have the following information ready to complete the form:
- Entity name, DBA, California Secretary of State file number, FEIN, and mailing address.
- Updated entity information, if anything has changed.
- Type of election and its effective date, including month, day, and year.
- Contact person's name, title, and telephone number.
- Member's printed name, signature, title, and date.
The form text does not identify any required supporting documents.
Common mistakes
- Leaving out changed information. If any entity information has changed, complete the form's update section.
- Overlooking that the election is irrevocable. The consent statement says the election cannot be revoked.
- Signing for others without authorization. An officer, manager, or member signing for other members must be authorized to give consent on their behalf.
- Signing without reviewing the election. The signer declares under penalties of perjury that the election is true, correct, and complete to the best of their knowledge and belief.
- Overlooking return filing requirements. The consent statement acknowledges the partnership or disregarded entity return filing requirements under Revenue and Taxation Code Sections 18633 and 18633.5.
Questions people ask
Can this election be revoked?
No. The form's consent statement says the election is irrevocable.
Where do I enter the election's effective date?
Enter the month, day, and year on line 2.
What if the entity's name or address has changed?
Complete the section for changed entity information.
Can one person sign on behalf of other members?
The consent statement allows an officer, manager, or member to sign for other members if authorized to give consent on their behalf.
Where can I find the privacy notice?
The form directs you to FTB 1131 EN-SP for the privacy notice.