Form 8050 - Direct Deposit Of Corporate Tax Refund

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Direct Deposit of Corporate Tax Refund
OMB No. 1545-0123
(November 2016)
Attach to Form 1120 or 1120S.
Department of the Treasury
Information about Form 8050 and its instructions is at
Internal Revenue Service
Name of corporation (as shown on tax return)
Employer identification number
Phone number (optional)
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):
Account number (include hyphens but omit spaces and special symbols):
General Instructions
How To File
the information. We need it to ensure that
you are complying with these laws and to
Section references are to the Internal Revenue
Attach Form 8050 to the corporation’s Form
allow us to figure and collect the right
Code unless otherwise noted.
1120 or 1120S after Schedule N (Form 1120),
amount of tax.
if applicable. To ensure that the corporation’s
Purpose of Form
You are not required to provide the
tax return is correctly processed, see
information requested on a form that is
Assembling the Return in the instructions for
File Form 8050 to request that the IRS deposit
subject to the Paperwork Reduction Act
Form 1120 or 1120S.
a corporate income tax refund (including a
unless the form displays a valid OMB control
Specific Instructions
refund of $1 million or more) directly into an
number. Books or records relating to a form
account at any U.S. bank or other financial
or its instructions must be retained as long as
Line 1. Enter the financial institution’s routing
institution (such as a mutual fund or brokerage
their contents may become material in the
number and verify that the institution will
firm) that accepts direct deposits.
administration of any Internal Revenue law.
accept a direct deposit. See the sample
The benefits of a direct deposit include a
Generally, tax returns and return information
check below for an example of where the
faster refund, the added security of a
are confidential, as required by section 6103.
routing number may be shown.
paperless payment, and the savings of tax
The time needed to complete and file this
For accounts payable through a financial
dollars associated with the reduced
form will vary depending on individual
institution other than the one at which the
processing costs.
circumstances. The estimated burden for
account is located, check with your financial
Who May File
business taxpayers filing this form is
institution for the correct routing number. Do
approved under OMB control number
not use a deposit slip to verify the routing
Only corporations requesting a direct deposit
1545-0123 and is included in the estimates
of refund with its original Form 1120 or 1120S
shown in the instructions for their business
Line 2. Enter the corporation’s account
may file Form 8050.
income tax return.
number. Enter the number from left to right
The corporation is not eligible to request a
If you have comments concerning the
and leave any unused boxes blank. See the
direct deposit if:
accuracy of these time estimates or
sample check below for an example of where
• The receiving financial institution is a foreign
suggestions for making this form simpler, we
the account number may be shown.
bank or a foreign branch of a U.S. bank, or
would be happy to hear from you. You can
Paperwork Reduction
• The corporation has applied for an
write to the IRS at the address listed in the
employer identification number but is filing its
instructions of the tax return with which this
Act Notice
tax return before receiving one.
form is filed.
We ask for the information on this form to
Note: For other corporate tax returns,
carry out the Internal Revenue laws of the
including Form 1120X, Amended U.S.
United States. You are required to give us
Corporation Income Tax Return, and Form
1139, Corporation Application for Tentative
Refund, a corporation may request a direct
Sample Check
deposit of refunds of $1 million or more by
filing Form 8302, Electronic Deposit of Tax
Refund of $1 Million or More.
Conditions Resulting in a
ABC Corporation
Refund by Check
123 Main Street
Anyplace, NJ 07000
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
(line 1)
(line 2)
return does not match the name on the
• The financial institution rejects the direct
deposit because of an incorrect routing or
account number.
• The corporation fails to indicate the type of
Note: The routing and account numbers may be in different places on the corporation’s check.
account the deposit is to be made to (that is,
checking or savings).
Cat. No. 30211X


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