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Screen ILBank - Illinois Direct Deposit, Electronic Funds Withdrawal (1040)
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Overview
Use this screen to enter state electronic direct deposit and electronic funds withdrawal, electronic funds withdrawal for estimated payments, and refund deposits into a Bright Start or Bright Directions College Savings Plan. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal is available only when filing electronically. The taxing agency does not support electronic funds withdrawal for extensions.
Direct Deposit and Electronic Funds Withdrawal
Use this section to indicate the Illinois option for direct deposit and electronic funds withdrawal (direct debit). Form shows the details of the requested withdrawal. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal for the return is available only when electronically filing.
Suppress direct deposit of refund
UltraTax CS automatically chooses direct deposit for the Illinois return refund when financial institution information has been entered in the federal Info Screen. Enter
X
if you do not want to deposit the state refund directly in the client’s account.Use Refund Advantage / EPS Financial for refund deposit
Use this field to have the state refund, less applicable fees, deposited with Refund Advantage / EPS Financial. This field is available only when filing electronically and a bank product is selected in the federal RAL Screen.
Use Bright Start or Bright Directions College Savings Plans for refund deposit
Use this field to have the state refund deposited into Bright Start or Bright Direction college savings plan. This field is available only if information is entered in the federal 1099Q Screen. College savings plan information is entered in the
Depositor account number
field in the Account Information section below. For Bright Start, enter 1111514
plus your 10-digit account number; for Bright Directions enter 529
plus your nine-digit account number.Enable electronic funds withdrawal for balance due returns
Electronic filers may have their amount due paid directly from a bank account when this field is completed.
- When you enable direct debit of the balance due, you must complete theName on accountfield. Also, if the federal Bank Screen does not include account information, enter it in the account information fields in this input screen.
- Illinois allows a direct debit through the extension date of the return. (Illinois does not offer electronically filed extensions.)
Date of withdrawal
If filing on or before the original due date, the date of withdrawal defaults to the original due date. Use this field to request an earlier withdrawal date.
The actual transfer of funds may occur on or after the requested date. Delays of several days are not uncommon.
Estimated Payment Electronic Funds Withdrawal
Use this section to designate estimated payments electronic funds withdrawal for electronically filed returns.
Electronically withdraw funds for estimate payments
Electronic funds withdrawal of estimates is available for electronically filed returns only. Direct deposit or direct debit of balance due is not required for direct debit of estimates. Use these fields to indicate each estimate authorized for electronic withdrawal. The estimated payment amount is the calculated amount on the Illinois Estimated Tax Payments Worksheet. Dates may be adjusted by using the
1st - 4th payment: Requested Withdrawal Date
fields. The dates and amounts of withdrawal are included in the electronic file and printed on the Illinois Estimated Tax Payments Worksheet.Account Information
The primary account information entered in the federal Bank Screen transfers automatically. A different account may be entered for the Illinois return. It is recommended that the routing transit number and account number be verified annually with the taxpayer.
To prevent unintended IRA premature withdrawal penalties or excess contributions, account information does not transfer from the federal Bank Screen for an IRA. If a deposit to an IRA is intended, enter that account information in this screen. An IRA cannot be selected for electronic funds withdrawal.
Routing transit number
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account will not be used. The routing transit number must be nine digits with the first two digits within the range of 01-12 or 21-32.
Name of financial institution
This field is used in the filing instructions and forms to help identify the account.
Depositor account number
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account will not be used. The account number may include digits and letters. Omit spaces, hyphens, and other special characters.
Type of account
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account will not be used. Select the type of account from the drop-down list.
An IRA account type cannot be selected for electronic funds withdrawal.
Non-US financial institution
There are regulations affecting international electronic funds transfers processed though the automated clearing house (ACH) network. A domestic ACH transaction is a direct deposit to or withdrawal from an account in a U.S. financial institution. An international ACH transaction (IAT) is a direct deposit to an account in a U.S. bank that automatically forwards the refund to an account in a foreign financial institution, or a withdrawal from a U.S. bank account that receives the funds for that transaction from a foreign account. The account owner will know when an international transfer account has been established for them. Enter
X
if the account identified is used for an IAT. Because state agencies cannot process an IAT, UltraTax CS suppresses the direct deposit or electronic funds withdrawal when this field is marked. This suppression is noted in the diagnostic messages and the account information is omitted from forms, client documents, and electronic returns. State agencies are tallying how many international transactions they will need to support in future years so the return will indicate that an IAT was requested.