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Screen NJBank - New Jersey Direct Deposit, Electronic Funds Withdrawal (1040)

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Overview

Use this screen to enter direct deposit and electronic funds withdrawal information for the tax return, estimated tax payments, and extension. Direct deposit is available when filing electronically (all returns) or on paper for resident returns only. Electronic funds withdrawal is available only when filing electronically. A balance due extension filed electronically must included an electronic funds withdrawal.

Direct Deposit and Electronic Funds Withdrawal

Use this section to indicate the option for direct deposit and electronic funds withdrawal. The New Jersey Electronic Funds Withdrawal worksheet shows the details of the requested withdrawal. Direct deposit is available when filing electronically (all returns) or on paper for resident returns only. Electronic funds withdrawal is available only when filing electronically. A balance due extension filed electronically must included an electronic funds withdrawal.
Suppress direct deposit of New Jersey refund
UltraTax CS automatically chooses direct deposit for the New Jersey return refund when account information is entered. Enter
X
 if you don't 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 client's 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.
Enable electronic funds withdrawal for a balance due return
Use this field to request an electronic withdrawal of funds for a balance due return. If this field isn't enabled, no withdrawal will occur.
Date of withdrawal (If not the due date of the return)
Use this field to request a date other than the original due date of return. New Jersey will initiate withdrawal of funds when the return has completed processing.

Estimate Payment Electronic Funds Withdrawal

When filing electronic estimates electronic funds withdrawal is required. You may create electronic estimates with the return or with the extension. Each estimate will be a separate e-file that must be transmitted from Connect.
Electronically withdraw all estimates payments
Use these fields to indicate if you want to have the Electronic estimates created with the return or extension. Each estimate creates a separate e-file that must be transmitted from Connect to the state.
If including estimate payments with an extension, select
File
,
Print Extensions
,
Options
,
Extension Print Options
, and mark
Print estimates with extension
 to submit estimated payments via EFW.
1st - 4th payment: Withdrawal Date
Withdrawal dates default to the due date of the estimate payment. Modify the date if you would like payment withdrawal on an earlier date.
1st - 4th payment: Calculated Amount
Estimate amounts calculated on the estimate worksheet show in these fields. Modification should be made through the estimate screen.
Treat code 2 calculated amounts as paid and transfer to the Est screen,
2026
 estimates paid field(s)
Mark this field after creating estimates when printing with the extensions. Estimate amounts will transfer to the Estimate screen as paid amounts when you need to recalculate estimates when finishing the return.

Extension Payment Electronic Funds Withdrawal

Use this section to enable electronic funds withdrawal (direct debit) for the extension. Electronic funds withdrawal is available only when filing the extension electronically.
Enable electronic funds withdrawal for extension payment
Use this field to request an electronic withdrawal of funds for a balance due return. If not enabled, no withdrawal will occur.
If not filing the current year return before next year's estimates are due, select
File
,
Print Extensions
, and mark
Print estimates with extension
 in Options to submit estimated payments via EFW.
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 due date.
The actual transfer of funds may occur on or after the requested due date. Delays of several days aren't uncommon.

Account Information

The primary account information entered in the federal Bank screen transfers automatically. A different account may be entered for the New Jersey return. It's recommended to verify the routing transit number and account number with the taxpayer.
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 won't be used. The routing transit number must be 9 digits with the 1st 2 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 won't be used. The account number may include digits and letters. Omit spaces, hyphens, and other special characters.
Type of account (If IRA, deposit only, where state allows)
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 won't be used. Select the type of account from the dropdown list.
An IRA account type cannot be selected for electronic funds withdrawal.
Non-US financial institution (International ACH transaction)
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 can't 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 tally how many international transactions will need support in future years, so the return will indicate that an IAT was requested.

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