Form Eft-1 - Electronic Funds Transfer (Eft)

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Vermont Department of Taxes, 133 State Street, PO Box 547, Montpelier, VT 05601-0547
Telephone: (802) 828-2551, option 3
F
Enrollment Form for
ORM
V
ERMONT
Electronic Funds Transfer (EFT)
EFT-1
Business Name
Federal ID Number
Mailing Address
City
State
ZIP
Contact Person Name
Telephone Number
Mailing Address
Fax Number
City
State
ZIP
E-mail address
Signature
I request authority to initiate ACH Credit electronic funds transfer to the State’s designated bank account. I understand
these transactions must conform to NACHA CCD+ format using the TXP convention, and that my bank may assess a
transaction charge to the transmission to file and remit my Vermont tax.
Signature
Title
Date
Electronic Funds Transfer - ACH Credit Payment Option
The Vermont Department of Taxes offers the option of remitting employer withholding taxes through Electronic Funds Transfer
(EFT) using the ACH Credit payment option. Employers must complete Form EFT-1 to enroll in the ACH credit payment system.
Upon receipt of your enrollment form, the Vermont Department of Taxes will provide the routing and banking numbers and EFT
codes needed to submit your payment. You will need to provide this information to your bank. The bank will perform a test
transmission; once the test transmission is successfully completed you can begin submitting your withholding tax using the ACH
Credit payment option. You can anticipate up to seven business days processing time after submitting Form EFT-1 for completion
of the enrollment and testing procedures.
Mandatory Electronic Funds Transfer for Certain Employers
The Vermont Department of Taxes mandates employers who can reasonably expect their employee Withholding Tax to be $9,000.00
or more per quarter to submit their payments by electronic funds transfer. These employers must file and remit via electronic
funds transfer on the following schedule:
FOR PAY DAYS ON:
FILE ON:
Wednesday, Thursday, or Friday
the following Wednesday
Saturday, Sunday, Monday, Tuesday
the following Friday
Voluntary Electronic Funds Transfer for Employers
Employers withholding less than $9,000.00 per quarter may voluntarily elect to file and remit through electronic funds transfer –
ACH Credit payment option using either the monthly or quarterly filing frequency assigned by the Department.
Mail to:
Vermont Department of Taxes
Fax to:
(802) 828-5787
EFT Coordinator
OR
Attn: EFT Coordinator
PO Box 547
Montpelier, VT 05601-0547
Form EFT-1
Rev. 11/08

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