Provide Accurate Routing and Account Numbers on Form 8038-CP to Avoid Delayed Payments
Inaccurate direct deposit information on Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds may cause a delay in the payment of a request for a credit payment. The IRS recommends that each filer of Form 8038-CP that elects a direct deposit of a credit payment verify that the correct ACH routing and account numbers (which may or may not be the same as the routing number displayed on a check) are shown in lines 25a and 25c. Issuers should check with their financial institution to get the correct ACH routing and account numbers and to make sure their direct deposit will be accepted. The routing number must be nine digits with the first two digits a 01 through 12 or 21 through 32. The account number can be up to 17 characters.
If routing or account numbers on a filed Form 8038-CP are inaccurate, the direct deposit could be rejected. If a direct deposit is rejected, the IRS will mail a paper check to the issuer address shown on the Form 8038-CP. The IRS is not responsible for lost credit payments if you enter the incorrect routing and/or account information.
Questions about the status of a direct deposit of a credit payment should be directed to TEGE Customer Account Services at 1-877-829-5500.