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posted Jun 27, 2022 9:19:08 AM

Changing my bank account information for tax and stimulus purposes

How do I change my bank information my account is closed

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3 Replies
Level 15
Jun 27, 2022 9:41:14 AM

Once your tax return has been filed the bank information for direct deposit cannot be changed.  

If the account is incorrect or closed the bank will reject the tax refund and return the refund back to the IRS.  The IRS will then mail a refund check to the address on the federal tax return.

Level 15
Jun 27, 2022 9:41:16 AM

 

Did you already e-file?  If you did NOT e-file you can go to the FILE section and change how you want to receive your refund.  If you want direct deposit you need the routing number and your own account number.

 

You cannot  change banking information while your return is in pending, nor can you change it after the return is accepted.  The IRS does not allow it.

 

If you e-filed:

Banking information for direct deposit is wrong

If you entered incorrect banking information for your refund, you can change it if your return is rejected.  If it is accepted, however, it is too late to change it.  The bank will reject the refund and send it back to the IRS.  Then the IRS will issue a paper check and mail it to the address you put on your tax return.  Expect a delay of at least a couple of weeks to receive your refund.

Here is what the IRS says about entering incorrect banking information

https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/irs-procedures/refund-inquiries/refund-inquiries-18

Level 15
Jun 27, 2022 9:41:20 AM

@vbutler3837 - if you already filed your tax return, you can NOT change the banking information.  That is IRS policy to reduce the risk of fraud.

 

if the IRS is unable to electronically direct deposit your refund, they will send out a paper check a few weeks later