Form 8888 - Allocation Of Refund (Including Saving'S Bond Purchases) Form 8888 (2014) Page 2
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Form 8888 (2014)
Page
Future Developments
or custodian in advance, the trustee or
If you file a joint return and
▲
!
custodian can assume the deposit to
complete Form 8888, your
Information about any future
your IRA in 2015 is for 2015. If you
spouse may get at least part
developments affecting Form 8888 (such
designate your deposit to be for 2014,
CAUTION
of the refund.
as legislation enacted after we release it)
you must verify that the deposit was
Lines 1a, 2a, and 3a
will be posted on
actually made to the account by the due
date of the return (without regard to
Enter the portion of your refund you want
General Instructions
extensions). If the deposit is not made by
directly deposited to each account. Each
Do not request a deposit of
that date, the deposit is not an IRA
▲
deposit must be at least $1.
!
contribution for 2014. In that case, you
your refund to an account
Your entire deposit may be deposited
that is not in your name, such
must file an amended 2014 return and
in one account. If there are any delays
CAUTION
as your tax return preparer's
reduce any IRA deduction and any
in the processing of your return by the
account.
retirement savings contributions credit
IRS, your entire refund will be deposited
you claimed.
in the first account listed on Form 8888.
Purpose of Form
You and your spouse, if filing
▲
Make sure the first account you list on
!
Use Form 8888 if:
jointly, each may be able to
Form 8888 is an account you would
• You want us to directly deposit your
contribute up to $5,500
want the entire refund deposited in if this
refund (or part of it) to either two or three
CAUTION
($6,500 if age 50 or older
happens.
accounts at a bank or other financial
at the end of 2014) to a traditional IRA or
Lines 1b, 2b, and 3b
institution (such as a mutual fund,
Roth IRA for 2014. You may owe a
brokerage firm, or credit union) in the
penalty if your contributions exceed these
The routing number must be nine digits.
United States, or
limits, and these limits may be reduced
The first two digits must be 01 through
depending on your compensation. For
• You want to use at least part of your
12 or 21 through 32. On the sample
more information on IRA contributions,
refund to buy up to $5,000 in paper
check below, the routing number is
see Pub. 590-A. If the limits on IRA
series I savings bonds.
250250025. Tony and Jennifer Maple
contributions change for 2015, Pub.
would use that routing number unless
An account can be a checking,
590-A will have the new 2015 limits.
their financial institution instructed them
savings, or other account such as an
to use a different routing number for
individual retirement arrangement (IRA),
TreasuryDirect® Account
direct deposits.
health savings account (HSA), Archer
You can request a deposit of your refund
MSA, Coverdell education savings
Ask your financial institution for the
account (ESA), or TreasuryDirect® online
(or part of it) to a TreasuryDirect® online
correct routing number to enter if:
account.
account to buy U.S. Treasury marketable
• The routing number on a deposit slip is
securities and savings bonds. For more
You cannot have your refund deposited
different from the routing number on
information, go to
into more than one account or buy paper
your checks,
series I savings bonds if you file Form
• Your deposit is to a savings account
8379, Injured Spouse Allocation.
U.S. Series I Savings Bonds
that does not allow you to write checks,
Deposit of refund to only one account.
or
You can request that your refund (or part
If you want your refund deposited to only
• Your checks state they are payable
of it) be used to buy up to $5,000 in
one account, do not complete this form.
through a financial institution different
paper series I savings bonds. You do not
Instead, request direct deposit on your
from the one at which you have your
need a TreasuryDirect® account to do
tax return.
account.
this. See the instructions under Part II for
Why Use Direct Deposit?
details.
Lines 1c, 2c, and 3c
• You get your refund faster by direct
Specific Instructions
Check the appropriate box for the type
deposit than you do by check.
of account. Do not check more than one
Part I
• Payment is more secure. There is no
box for each line. If your deposit is to an
check that can get lost or stolen.
account such as an IRA, HSA, brokerage
If you are filing Form 8888
account, or other similar account, ask
• It is more convenient. You do not have
only to buy paper series I
TIP
your financial institution whether you
to make a trip to the bank to deposit
savings bonds, skip Part I and
your check.
go to Part II.
• It saves tax dollars because it costs the
government less.
IRA
Sample Check
You can have your refund (or part of it)
directly deposited to a traditional IRA,
1234
TONY MAPLE
SAMPLE
▲
Roth IRA, or SEP-IRA, but not a SIMPLE
JENNIFER MAPLE
IRA. You must establish the IRA at a
123 Pear Lane
15-0000/0000
bank or other eligible financial institution
Anyplace, GA 00000
before you request direct deposit. Make
PAY TO THE
ORDER OF
$
sure your direct deposit will be
Routing
Account
accepted. You must also notify the
number
number
DOLLARS
trustee or custodian of your account of
the year to which the deposit is to be
ANYPLACE BANK
Anyplace, GA 00000
applied (unless the trustee or custodian
Do not include
will not accept a deposit for 2014). If you
the check number.
For
do not, the trustee or custodian can
assume the deposit is for the year during
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:250250025
:202020"'86".
◀
1234
which you are filing your return. For
example, if you file your 2014 return
Note. The routing and account numbers may be in different places on your check.
during 2015 and do not notify the trustee
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