Screen VTBank - Vermont Direct Deposit and Electronic Funds Withdrawal (1120)

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Refer to 1120 Vermont frequently asked questions

Account Information

The application uses this information to pay a balance due with electronic funds withdrawal or deposit a refund for electronically filed returns.
Suppress direct deposit of refund
The application automatically chooses direct deposit for the return refund when the financial institution information has been entered on this screen and the return is electronically filed. Enter
X
if you do not want to deposit the state refund directly into the client’s account.
Name of financial institution / … / Non-US financial institution
The application transfers the financial institution information entered in federal Screen Bank for direct deposit and electronic funds withdrawal. To use a different account for the Vermont return, enter the financial institution information in this screen.
note
The application uses account information from this section to generate the e-file "Electronic Funds Withdrawal" for balance due returns. To generate the e-file payment, enter a date in the
Requested payment date
field in Screen VTELF. If you do not want to generate the e-file payment, you do not have to remove the account information in this section. The e-file payment is only generated when the
Requested payment date
field is completed in Screen VTELF.

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