Form 8050 Direct Deposit of Corporate Tax Refund

8050

Form
(December 2001)

Direct Deposit of Corporate Tax Refund
䊳

OMB No. 1545-1762

Attach to Form 1120, 1120-A, or 1120S.

Department of the Treasury
Internal Revenue Service

Name of corporation (as shown on tax return)

Employer identification number
Phone number (optional)

(

)

1. Routing number (must be nine digits). The first two digits must be between 01 and 12 or 21 through 32.
3. Type of account (one box
must be checked):

2. Account number (include hyphens but omit spaces and special symbols):

Checking

General Instructions

How To File

Purpose of Form

Attach Form 8050 to the corporation’s
Form 1120, 1120-A, or 1120S after
Schedule N (Form 1120) (if applicable). To
ensure that the corporation’s tax return is
correctly processed, see Assembling the
Return in the instructions for Form 1120,
1120-A, or 1120S.

Only corporations requesting a direct
deposit of refund with its original Form
1120, 1120-A, or 1120S may file Form
8050.
The corporation is not eligible to request
a direct deposit if:
● The receiving financial institution is a
foreign bank or a foreign branch of a U.S.
bank or
● The corporation has applied for an
employer identification number but is filing
its tax return before receiving one.
Note. For other corporate tax returns,
including Form 1120X, Amended U.S.
Corporation Income Tax Return, and Form
1139, Corporation Application for Tentative
Refund, a corporation may request a direct
deposit of refunds of $1 million or more by
filing Form 8302, Direct Deposit of Tax
Refund of $1 Million or More.

If the IRS is unable to process this request
for a direct deposit, a refund by check will
be generated instead. Reasons for not
processing a request include:
● The name of the corporation on the tax
return does not match the name on the
account.
● The financial institution rejects the direct
deposit because of an incorrect routing or
account number.
● The corporation fails to indicate the type
of account the deposit is to be made to
(i.e., checking or savings).

Paperwork Reduction
Act Notice
We ask for the information on this form to
carry out the Internal Revenue laws of the
United States. You are required to give us

Sample Check
ABC Corporation
123 Main Street
Anyplace, NJ 07000
PAY TO THE
ORDER OF

Routing
number
(line 1)

1234

䊱

Conditions Resulting in a
Refund by Check

Line 1. Enter the financial institution’s
routing number and verify that the
institution will accept a direct deposit. See
the sample check below for an example of
where the routing number may be shown.
For accounts payable through a financial
institution other than the one at which the
account is located, check with your
financial institution for the correct routing
number. Do not use a deposit slip to verify
the routing number.
Line 2. Enter the corporation’s account
number. Enter the number from left to right
and leave any unused boxes blank. See the
sample check below for an example of
where the account number may be shown.

15-0000/0000

$

Account
number
(line 2)

ANYTOWN BANK
Anytown, MD 20000

DOLLARS

Do not include
the check number.

For

䊱

Who May File

Specific Instructions

the information. We need it to ensure that
you are complying with these laws and to
allow us to figure and collect the right
amount of tax.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB
control number. Books or records relating
to a form or its instructions must be
retained as long as their contents may
become material in the administration of
any Internal Revenue law. Generally, tax
returns and return information are
confidential, as required by section 6103.
The time needed to complete and file
this form will vary depending on individual
circumstances. The estimated average
times are: Recordkeeping, 1 hr., 25 min.;
Learning about the law or the form, 6
min.; Preparing, copying, assembling,
and sending the form to the IRS, 7 min.
If you have comments concerning the
accuracy of these time estimates or
suggestions for making this form simpler,
we would be happy to hear from you. You
can write to the IRS at the address listed
in the instructions of the tax return with
which this form is filed.

SA
M
PL
E

File Form 8050 to request that the IRS
deposit a corporate income tax refund
(including a refund of $1 million or more)
directly into an account at any U.S. bank
or other financial institution (such as a
mutual fund or brokerage firm) that
accepts direct deposits.
The benefits of a direct deposit include a
faster refund, the added security of a
paperless payment, and the savings of tax
dollars associated with the reduced
processing costs.

Savings

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.
"’86" 1234

Note. The routing and account numbers may be in different places on the corporation’s check.
Cat. No. 30211X

Form

8050

(12-2001)