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Screen MOBank - Missouri Direct Deposit (1040)

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Overview

Use this screen to enter direct deposit and electronic funds withdrawal information.
In additon, use this screen to complete Form 5632, MOST - Missouri's 529 College Savings Plan Direct Deposit Form.
note
Once an electronic return is transmitted, a direct deposit request cannot be added, modified or canceled. The routing transit number and account number should be verified annually.

Direct Deposit

Direct deposit is
only
 available when electronically filing the return.
Suppress direct deposit of Missouri refund
UltraTax CS automatically chooses direct deposit for the Missouri return refund when financial institution information has been 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 Screen RAL.

Electronic Funds Withdrawal - Balance Due on Returns

Starting with tax year 2022, electronic funds withdrawal is available for electronically filed original and amended returns.
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 this field is not enabled, no withdrawal will occur.
Date of withdrawal
If filing on or before the original due date, the date of withdrawal defaults to the original due date. Use this field to request an earlier withdrawal date.

Electronic Funds Withdrawal - Estimates and Extension

Missouri Department of Revenue does not accept electronic funds withdrawal for estimated tax payments or extensions. Pay online by clicking the Missouri Department of Revenue website .

Account Information

Routing transit number / ... / Type of account
The primary account information entered in federal Screen Bank transfers automatically. A different account may be entered for the Missouri return. It is required that the routing transit number and account number be verified annually with the taxpayer.
To prevent unintended IRA excess contributions, account information does not transfer from federal Screen Bank for an IRA. If a deposit to an IRA is intended, enter that account information in this screen. An IRA cannot be selected for electronic funds withdrawal.
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.

MOST 529 College Savings Plan

Use this section to complete Form 5632, MOST Direct Deposit Form, to have part or all of the refund deposited into up to four different Missouri MOST 529 College Savings Plans. The account and beneficiary information must be entered on federal Screen 1099Q so this year's deposit can transfer to next year as a deductible contribution.
Account number
The account number is an eleven-digit number starting with either 54 or 63. Enter the account number in federal Screen 1099Q in the
Account number
 field. The appropriate number can then be chosen from the fieldview.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Missouri

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