Screen NYUBTBnk - New York City Unincorporated Business Direct Deposit, Debit (1040)

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Overview

Use this screen to complete bank information for direct deposit and electronic funds withdrawal. Electronic funds withdrawal is only available for electronically filed returns. Complete additional required information in the NYUBTElf screen. Bank information won't default to federal bank information.

Direct Deposit and Electronic Funds Withdrawal

UltraTax CS uses the information in this section to complete the bank information for a direct deposit of a refund or an electronic funds withdrawal for a balance due return that has been electronically filed.
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 are tallying how many international transactions they'll need to support in future years so the return will indicate that an IAT was requested.

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