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Screen ORBank - Oregon Direct Deposit (1040)

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Overview

Use this screen to complete or modify direct deposit and electronic funds withdrawal information.
note
Once an electronic return is transmitted, a direct deposit or electronic funds withdrawal request cannot be added, modified, or canceled. The routing transit number and account number should be verified annually.

Direct Deposit and Electronic Funds Withdrawal

Use this section to indicate the Oregon option for direct deposit. Form OR-EF shows details of the requested deposit.
Suppress direct deposit of Oregon refund
UltraTax CS automatically chooses direct deposit for the Oregon return refund when financial institution information is entered. 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 client's refund deposited with Refund Advantage / EPS Financial. This field is available only when filing electronically and a bank product is selected in 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 not enabled, no withdrawal will occur.
Date of withdrawal if not due date of return
When filing on or before the original due date of the return, the requested date of withdrawal defaults to the original due date. Use this field to provide a requested withdrawal date if different from the original due date.
When filed on or before the original return due date, the taxing authority cannot initiate a funds transfer prior to the requested withdrawal date. The actual transfer of funds may occur on or after the requested date. Delays of several days are not uncommon.
When filing after the original due date, enter the date the electronic file is transmitted. The taxing authority will initiate a withdrawal when the return has completed processing.
note
ARTS returns may be electronically filed only when the balance due is paid by electronic funds withdrawal.

Estimated Payment Electronic Funds Withdrawal

Estimates may be scheduled for direct debit in the electronic file. Once the electronic file is accepted by the state, any changes to the scheduled debits must be made online at the www.tax.ohio.gov website.

Account Information

Routing transit number / ... / Type of account
UltraTax/1040-OR automatically transfers the primary checking or savings account financial institution information entered in federal Bank Screen. To select a different account for the Oregon transaction, enter the financial institution information in this screen.
Routing transit number
,
Depositor account number
, and
Type of account
 fields all must be completed.
IRA account information is not transferred from the federal return to the state. This is to prevent unintentional excess contributions to an IRA. To deposit a refund into an IRA account, enter the account information in this screen.
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 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.

529 College Savings Plan

Use this section to enter information to have part or all of the refund deposited into up to four different Oregon 529 College Savings Plans. One account may be created on Schedule OR-529. Deposits cannot be made into the account until it is created. To create more than one account or to create an account in a spouse's name, notify the network when contacted. To create an MFS 529 Savings Plan contact the board directly.

Statewide Transit Tax

Input for forms OR-STI and OR-STI-V is available in the Taxes folder. When Forms 40, 40P, and 40N are electronically field, Form OR-STI creates a separate electronic file. Only two Form OR-STI returns can be electronically filed, one for taxpayer and one for spouse. Suppress the efile on ORELF Screen to file all units on paper. Information entered here is used in electronically filed returns when financial transactions are requested and displayed on the Return Summary. Filing instructions must be edited to include information about Form OR-STI.

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