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        FORM                            STATE OF HAWAII — DEPARTMENT OF TAXATION                                                           TAX YEAR 
                                       ALLOCATION OF ESTIMATED TAX 
    N-40T                            PAYMENTS TO BENEFICIARIES 
       (REV. 2023)
                                     (Under Internal Revenue Code (IRC) section 643(g))                                                    2023
                                                                                                                                                    N40T_I 2023A 01 VID01
                       or fiscal year beginning            , 2023, and ending            , 20  
Name of trust (or decedent’s estate)                                                                                                       Federal Employer Identification Number 

                      Name and title of fiduciary                                                                                           Telephone number (optional) 
 Fill in Fiduciary’s 
 Name and              
 Address Only If      Mailing Address (number and street) 
 You Are Filing 
 This Form             
 Separately and       City, State, and Postal/ZIP Code                                                                                     If you are filing this form for the final year 
 Not With Form 
 N-40                                                                                                                                      of the estate or trust, check this box †      
 1  Total amount of estimated taxes to be allocated to beneficiaries.  Enter  
    here and on Form N-40, Schedule G, line 6(d)....................................................................................... † $
 2  Allocation to beneficiaries:
                                                                                               (c)                                         (d)                                    (e) 
   (a)                               (b) 
                                                                                 Beneficiary’s identifying                              Amount of estimated tax         Proration 
 No.                 Beneficiary’s name and mailing address
                                                                                              number                                   payment allocated to beneficiary percentage
   1     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   2     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   3     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   4     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   5     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   6     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   7     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   8     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   9     -----------------------------------------------------------------------------------------------------------------------------                                                   %

   10    -----------------------------------------------------------------------------------------------------------------------------                                                   %

   11    -----------------------------------------------------------------------------------------------------------------------------                                                   %

   12    -----------------------------------------------------------------------------------------------------------------------------                                                   %

   13    -----------------------------------------------------------------------------------------------------------------------------                                                   %

   14    -----------------------------------------------------------------------------------------------------------------------------                                                   %

   15    -----------------------------------------------------------------------------------------------------------------------------                                                   %

  3 Total from additional sheet(s)................................................................................................... 3

 4  Total amounts allocated (Must equal line  , above.)1  ................................................................            4
                    Under penalties set forth in section 231-36, HRS, I declare that I have examined this allocation, including accompanying schedules and statements, and 
 Sign Here Only     to the best of my knowledge and belief, it is true, correct, and complete.
 If You Are Filing  
   This Form 
 Separately and 
 Not with Form      † 
    N-40               Signature of fiduciary or officer representing fiduciary                                                                     Date

                                                          ID NO 01                                                                             FORM N-40T (REV. 2023)

INSTRUCTIONS                                                   
FORM N-40T (REV. 2023)                                                                                        Page 2

General Instructions                      Specific Instructions                         For those beneficiaries who file a joint 
                                                                                        return, you can assist the Department 
Purpose of Form                           Address                                       of Taxation in crediting the proper ac-
A trust or, for its final tax year, a de- Include the suite, room, or other unit        count  by  also  providing  the  SSN,  if 
cedent’s  estate  may  elect  under  IRC  number after the street address. If the       known,  of  the  beneficiary’s  spouse. 
section 643(g) to have any part of its  post office does not deliver mail to the        However, this is an optional entry.
estimated  tax  payments  treated  as  street address and the fiduciary has a           Column (d) –– Amount of estimated 
made by a beneficiary or beneficiaries.  P.O. Box, show the box number instead          tax  payment  allocated  to  beneficiary. 
The fiduciary files Form N-40T to make  of the street address. If the fiduciary’s       For  each  beneficiary,  also  enter  this 
the election. Once made, the election  address  is  outside  the  United  States        amount on Schedule K-1 (Form N-40), 
is irrevocable.                           or  its  possessions  or  territories,  enter line 9a.
                                          the information on the line for “City or      Column (e) –– Proration percentage. 
How to File
                                          town,  State  and  Postal/ZIP  Code”  in  For  each  listed  beneficiary,  divide  the 
Attach  Form  N-40T  to  Form  N-40  the  following  order:  city,  province  or  amount  shown  in  column  (d)  by  the 
only if you are making the election with  state, postal code, and the name of the  amount shown on line 1 and enter the 
Form N-40, Fiduciary Income Tax Re-       country. Do not abbreviate the country  result as a percentage.
turn. Otherwise, file Form N-40T sepa-    name.
                                                                                        Line 3
rately.
                                          Line 1
                                                                                        If you are allocating a payment of es-
When to File
                                          Enter  the  amount  of  estimated  tax  timated taxes to more than 15 benefi-
For  the  election  to  be  valid,  a  trust  payments  made  by  the  trust  or  dece- ciaries, list the additional beneficiaries 
or decedent’s estate must file Form N-    dent’s estate that the fiduciary elects to  on  an  attached  sheet  that  follows  the 
40T by the 65th day after the close of  treat as a payment made by the ben-             format of line 2. Enter on line 3 the total 
the tax year as shown at the top of the  eficiaries. This amount is treated as if  from the attached sheet(s).
form. For a 2023 calendar year trust or  paid or credited to the beneficiaries on 
                                                                                        Line 4
decedent’s  estate,  that  date  is  March  the last day of the tax year of the trust 
5, 2024. If the due date falls on a Sat-  or decedent’s estate. Be sure to include      Total  the  amounts  in  line  2,  column 
urday,  Sunday,  or  holiday,  file  on  the  it on Form N-40, Schedule G, line 6(d).   (d), and line 3. This amount must equal 
next business day. If Form N-40T is not                                                 line 1.
                                          Line 2
timely filed, the estimated tax payments 
cannot be used by the beneficiaries.      Column  (b)  ––  Beneficiary’s  name 
                                          and  mailing  address.  Group  the  ben-
Period Covered
                                          eficiaries  to  whom  you  are  allocating 
File the 2023 form for calendar year  estimated  tax  payments  into  two  cat-
2023 and fiscal years beginning in 2023  egories. First, list all the individual ben-
and ending in 2024. If the form is for a  eficiaries (those who have social secu-
fiscal year or a short tax year, fill in the  rity numbers (SSNs)). Then, list all the 
tax year space at the top of the form.    other beneficiaries.
Where to File                             Column (c) –– Beneficiary’s identify-
                                          ing number. For each beneficiary, en-
Form N-40T must be mailed to:             ter the SSN (for individuals) or federal 
                                          employer identification number (FEIN) 
Hawaii Department of Taxation             (for all other entities). Failure to enter a 
Attn: Account Management                  valid SSN or FEIN may cause a delay 
           Section                        in processing and could result in penal-
       P. O. Box 259                      ties being imposed on the beneficiary. 
Honolulu, HI  96809-0259