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My bank account has changed where will my stimulus money go and how to change it

 
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7 Replies

My bank account has changed where will my stimulus money go and how to change it

Is this about getting another stimulus check?

 

 

Your banking information cannot be changed after your tax return has been filed and accepted.

 

Banking information does not go from TT to the IRS until you file your 2020 tax return and it is accepted. The IRS will begin to accept  and process 2020 returns at the end of January 2021.

 

You enter/change banking information in the FILE section before you file your 2020 return. Changing it on the TurboTax site does not do any good until you file your return and the IRS processes your return.   If they manage to start sending  out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS but they did not allow it for the first stimulus check … see FAQ below from the IRS. 

 

 

If your check goes to a wrong or closed account, it will be sent back to the IRS and then the IRS will mail a check to the address on your tax return.

 

 

 

The address you used on your 2019 return is what the IRS has at this time.  If you need to change it with the IRS:

 

CHANGE OF ADDRESS

https://www.irs.gov/faqs/irs-procedures/address-changes/address-changes

 

 

 AND  put in a forwarding address with the post office. 

 

 

 

From the IRS:

 

Bank Account Information

Where did the IRS get my bank information, and what if I need to change it? (updated May 15, 2020)

My bank account information has changed or was incorrect. Can I update it using the tool? (updated J...

 

No. To help protect against potential fraud, the tool does not allow people to change direct deposit information already on file with the IRS.

 

If we issue a direct deposit and the bank information is invalid or the bank account has been closed, the bank will reject the deposit. We will then mail your Payment as soon as possible to the address we have on file for you, and we will update Get My Payment to reflect the date your payment will be mailed. Typically, once the payment is mailed, it will take up to 14 days to receive the payment, standard mailing time.

 

 

.

My bank account has changed where will my stimulus money go and how to change it

 

BANKING INFORMATION

 

Your banking information cannot be changed after your tax return has been filed and accepted.

 

Banking information does not go from TT to the IRS until you file your 2020 tax return and it is accepted. The IRS will begin to accept  and process 2020 returns at the end of January 2021.

 

You enter/change banking information in the FILE section before you file your 2020 return. Changing it on the TurboTax site does not do any good until you file your return and the IRS processes your return.   If they manage to start sending  out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS. Right now there are no new guidelines.   If your check goes to a wrong or closed account, it will be sent back to the IRS and then the IRS will mail a check to the address on your tax return.

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Rotoni34
New Member

My bank account has changed where will my stimulus money go and how to change it

this Is  [PII removed] i need to change my bank account.

JamesG1
Expert Alumni

My bank account has changed where will my stimulus money go and how to change it

At this point, we believe that the stimulus payment will go to the bank account or address the IRS has on file for you.  You may also receive the payment by check.  This TurboTax Help states:

 

The IRS began issuing the first batch of stimulus payments, and they could arrive as early as this weekend (March 13-14), with more arriving over the coming week. Further batches of payments will arrive during the following weeks. If you’re eligible, check the status of your stimulus payment and the way it’ll be sent to you by going to the IRS Get My Payment Tool, which will be live on March 15th.

 

Do I need to do anything to get my stimulus check?

 

You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on your last tax return (either 2019 or 2020) and will likely send your payment to the bank account where your tax refund was deposited.

 

Can I change or update my bank information?

 

Right now, there is no way to change your information for your stimulus check. The payment will be based on the information from your latest tax return and will go to the bank account or address the IRS has on file for you.

 

Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.

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MMalama
New Member

My bank account has changed where will my stimulus money go and how to change it

hellow this is Muaava Malama please im trying to see if i can get any Stimulus checks have'nt get any of Stimulus checks 1,2,and 3rd checks please i need some help....

MichelleLO
Intuit Alumni

My bank account has changed where will my stimulus money go and how to change it

Community is a public forum and we do not have access to your personal information. For assistance with your Stimulus payment please visit the IRS Economic Impact Payments website. 

@MMalama

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My bank account has changed where will my stimulus money go and how to change it

@MMalama 

 

If you did not get the fist 2 stimulus payments then you must file a 2020 return to get that missing money.  Once the 2020 return has been filed and processed it may trigger the issuance of the third payment  or you may need to wait and get it on the 2021 return.  

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