If the bank rejects the transaction they will send it back to the IRS. At that time, the IRS will send you a paper check instead. The entire process can take six to eight weeks. I have taken the liberty to include the below information that outlines the steps to change your bank account information for your reference.
If you have filed the return, please review the below information.
If you e-filed, wait until your return is accepted or rejected by government.
- If your return is rejected, correct the account information (along with anything else that needs to be corrected for e-filing) and then re-submit your return.
- To correct your bank information, simply open your return in TurboTax, click File, and walk through the screens again.
- On the other hand, if your return has already been accepted (or you already mailed it), the IRS will send you a check refund instead.
What if the account information I entered is valid, but for somebody else's account?
The good news is that most banks have systems in place that prevents checks from being deposited into accounts bearing a different name.
Even so, it would be good idea to call the IRS at 800-829-1040 as soon as you realize your mistake. Also notify your state tax agency if you're getting your state refund direct-deposited.
