How do I update my banking account information in order to receive the new child tax credit advance payment?

There will be a portal on the IRS site to update banking information for the monthly child tax credit payments.

 

There will be monthly child tax credit payments going out beginning in July 2021, with some of the CTC still left as a refundable credit on your 2021 tax return next year.

 

 

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859

 

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

 

 

 

https://www.irs.gov/newsroom/irs-announces-two-new-online-tools-to-help-families-manage-child-tax-credit-payments

IRS.gov/childtaxcredit2021, 

 

https://www.kiplinger.com/taxes/602921/child-tax-credit-update-irs-sending-letters-to-families-who-may-get-monthly-payments

 

 

https://www.kiplinger.com/taxes/602431/child-tax-credit-2021-who-gets-3600-will-i-get-monthly-payments-and-other-faqs