Form 8302 Form 8302 Electronic Deposit of Tax Refund of $1 Million or More

8302

Electronic Deposit of Tax Refund of $1 Million or More

Form
(Rev. December 2009)
Department of the Treasury
Internal Revenue Service
Name(s) shown on income tax return

©

OMB No. 1545-1763

Attach to your income tax return (other than Forms 1040, 1120, or
1120S), Form 1045, or Form 1139.
Identifying number

Name and location (City, State) of bank

Taxpayer’s phone number

1
2

Method of deposit (one box must be checked)
Direct Deposit
Fedwire
Routing number (must be nine digits). The first two digits must be between 01 and 12 or 21 through 32.

3

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

4

Type of account (one
box must be checked):
Checking

General Instructions
Section references are to the Internal
Revenue Code unless otherwise noted.

Purpose of Form
File Form 8302 to request that the IRS
electronically deposit a tax refund of $1
million or more directly into an account
at any U.S. bank or other financial
institution (such as a mutual fund, credit
union, or brokerage firm) that accepts
electronic deposits.
The benefits of an electronic deposit
include a faster refund, the added
security of a paperless payment, and the
savings of tax dollars associated with
the reduced processing costs.

Who May File
Form 8302 may be filed with any tax
return other than Form 1040, 1120, or
1120S to request an electronic deposit
of a refund of $1 million or more. You
are not eligible to request an electronic
deposit if:
• The receiving financial institution is a
foreign bank or a foreign branch of a
U.S. bank or
• You have applied for an employer
identification number but are filing your
tax return before receiving one.
If Form 8302 is filed with Form 1045,
Application for Tentative Refund, or
Form 1139, Corporation Application for
Tentative Refund, both of which allow for
more than one year’s reporting,
electronic deposits may be made only
for a year for which the refund is at least
$1 million.
Note. Filers of Form 1040 must request
a direct deposit of refund by completing
the account information on that form.
Filers of Forms 1120 or 1120S must
request a direct deposit of a refund
using Form 8050, Direct Deposit of
Corporate Tax Refund. This includes a
request for a refund of $1 million or
more.

Conditions Resulting in a
Refund by Check
If the IRS is unable to process this
request for an electronic deposit, a
refund by check will be generated.
Reasons for not processing a request
include:
• The name on the tax return does not
match the name on the account.
• You fail to indicate the method of
deposit to be used (i.e., direct deposit or
Fedwire).
• The financial institution rejects the
electronic deposit because of an
incorrect routing or account number.
• You fail to indicate the type of account
the deposit is to be made to (i.e.,
checking or savings).
• There is an outstanding liability the
offset of which reduces the refund to
less than $1 million.

How To File
Attach Form 8302 to the applicable
return or application for refund. To
ensure that your tax return is correctly
processed, see Assembling the Return

Savings

in the instructions for the form with
which the Form 8302 is filed. For Forms
1045 or 1139, attach a separate Form
8302 for each carryback year.

Specific Instructions
Identifying number. Enter the employer
identification number or social security
number shown on the tax return to
which Form 8302 is attached.
Line 1. Direct deposit is an electronic
payment alternative that uses the
Automated Clearing House (ACH)
system. Fedwire is a transaction-bytransaction processing system designed
for items that must be received by
payees the same day as originated by
the IRS.
Line 2. Enter the financial institution’s
routing number and verify that the
institution will accept the type of
electronic deposit requested. See the
Sample Check below for an example of
where the routing number may be
shown.

¶
!

CAUTION

Check with your financial
institution, if necessary, to
verify the routing number
entered on line 2 is correct.

Sample Check
ABC Corporation
123 Main Street
Anyplace, NJ 07000

Routing
number
(line 2)

Account
number
(line 3)

Note. The routing and account numbers may be in different places on your check.
Cat. No. 62280S

Form

8302

(Rev. 12-2009)

Form 8302 (12-2009)

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 3. Enter the taxpayer’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.

Privacy Act and
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 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.
In addition, the Privacy Act requires
that when we ask you for information we
must first tell you our legal right to ask
for the information, why we are asking
for it, and how it will be used. We must
also tell you what could happen if we do
not receive it and whether your response
is voluntary, required to obtain a benefit,
or mandatory under the law.

Page

Our authority to ask for information is
sections 6001, 6011, and 6012(a) and
their regulations, which require you to
file a return or statement with us for any
tax for which you are liable. Your
response is mandatory under these
sections. Section 6109 requires that you
provide identifying number on what you
file. This is so we know who you are,
and can process your return and other
papers. You must fill in all parts of the
tax form that apply to you.
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. However, section 6103
allows or requires the Internal Revenue
Service to disclose or give the
information shown on your tax return to
other as described in the Code. For
example, we may disclose your tax
information to the Department of Justice
to enforce the tax laws, both civil and
criminal, and to cities, states, the District
of Columbia, U.S. commonwealths or
possessions, and certain foreign

2

governments to carry out their tax laws.
We may also disclose this information to
Federal, state, or local agencies that
investigate or respond to acts or threats
of terrorism or participate in intelligence
or counterintelligence activities
concerning terrorism.
Please keep this notice with your
records. It may help you if we ask you
for other information. If you have any
questions about the rules for filing and
giving information, please call or visit any
Internal Revenue Service office.
The time needed to complete and file
this form will vary depending on
individual circumstances. The estimated
average times are: Recordkeeping, 1
hr., 40 minutes; Learning about the law
or the form, 30 minutes; Preparing,
copying, assembling, and sending the
form to the IRS, 33 minutes.
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.