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Screen VABank - Virginia 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. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal for the return is available only when filing electronically.
note
Once an electronic return is accepted, a direct deposit or electronic funds withdrawal request can't be added, modified, or canceled electronically. The routing transit number and account number should be verified before transmission. Contact Virginia to modify electronic transactions in an accepted return.
Direct Deposit and Electronic Funds Withdrawal
Use this section to indicate the Virginia option for direct deposit and electronic funds withdrawal (direct debit). Form 760, 760PY, or 763 show details of the requested deposit. The
2025
ACH Payment Confirmation shows the details of requested withdrawals. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal for the return is available only when filing electronically.Paying balance due by credit or debit card
Use this field to indicate in the filing instructions that the taxpayer is paying their balance due by credit card or debit card. The taxpayer is responsible for arranging the payment. When marked, the electronic filing payment voucher won’t print.
Suppress direct deposit of refund
UltraTax CS automatically chooses direct deposit for the Virginia return refund when account information is entered. Enter
X
to suppress deposit of the state refund directly into the taxpayer's account. Returns that are due a refund that aren't received by direct deposit will be received via paper check. A custom paragraph is available on the VALetter screen to include this information in the filing instructions.Use Refund Advantage / EPS Financial for refund deposit
Use this field to have the taxpayer's refund, less applicable fees, deposited with Refund Advantage or EPS Financial. This field is available only when filing electronically and a bank product is selected in the RAL federal screen.
Enable electronic funds withdrawal for a balance due return
Enter
X
to enable electronic withdrawal of funds for a balance due return. If blank, no withdrawal will occur.Date of withdrawal
Direct debit is only available for electronically filed returns. When filing on or before the original due date of the return, if blank, the requested date of withdrawal defaults to the original due date. Use this field to enter a date earlier than the default date. The date needs to be on or before the original due date.
For returns filed after the original due date, the withdrawal will be run on the date the electronically filed return is accepted regardless of the entry in this field. However, if the date entered is before the date of transmission the return will be rejected.
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 Virginia Estimated Tax Payments Worksheet. Dates may be adjusted by using the 1st through 4th
payment: Requested Withdrawal Date
fields.The estimates are created with the return, but each estimate will be a separate e-file that needs to be transmitted from Connect.
note
If the Virginia return gets rejected and the estimates get accepted, it will be necessary to remove the
X
's and dates for the estimates before recreating the Virginia return. Otherwise the e-file won’t create since UltraTax won’t let another return be created when there is an accepted return on file. Be sure to go back and enter the X
's and dates so the estimate information will proforma next year.Electronic Extension 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.
Date of withdrawal
Enter the date the extension will be transmitted.
The actual transfer of funds may occur on or after the requested due date. Delays of several days are not uncommon.
Account Information
The primary account information entered in the Bank federal screen transfers to this screen. A different account may be entered for the Virginia return. It is recommended that the routing transit number and account number be verified annually with the taxpayer.
To prevent unintended IRA excess contributions, account information doesn’t transfer from the Bank federal screen when the account type is IRA. If a deposit to an IRA is intended, enter that account information in this screen. An IRA can't 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 won’t be used. The routing transit number needs to 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 filing instructions and forms to 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 numbers 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.
Non-US financial institution (International ACH transaction)
Federal regulations affect international electronic funds transfers processed through 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 will need to support in future years so the return will indicate that an IAT was requested.
Virginia529 & ABLE account information for direct deposit
When an overpayment exists, use this section to allocate all or a portion of the overpayment into a Virginia529 and/or ABLE account. The amount will be reported on Schedule VAC.
note
The total to be deposited into a Virginia529 or ABLE account needs to be equal to or less than the overpayment
Virgina529
UltraTax CS will transfer in the account number and beneficiary information if entered on screen 1099Q with state use code 24. Otherwise, this section is used to have part or all of the refund deposited into one or more Virginia College Savings Plan accounts. Use the drop-own menu to select the program type.
CollegeAmerica and ABLEAmerica accounts require the proper account number and routing transit number.
ABLE
Use this section to have part or all of the refund deposited into one or more ABLEnow accounts.