Screen ORMCBank - Multnomah County Preschool for All - Bank (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 Multnomah County 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 Multnomah County 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.
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.

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, changes to the scheduled debits cannot be added, modified, or canceled.

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.
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 and local 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.

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