Form 8888 - Allocation Of Refund (Including Savings Bond Purchases) - 2017 Page 2
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Form 8888 (2017)
Page
Future Developments
Why Use Direct Deposit?
TreasuryDirect® Account
Information about any future developments
• You get your refund faster by direct
You can request a deposit of your refund
affecting Form 8888 (such as legislation
deposit than you do by check.
(or part of it) to a TreasuryDirect® online
enacted after we release it) will be posted
account to buy U.S. Treasury marketable
• Payment is more secure. There is no
on
securities and savings bonds. For more
check that can get lost or stolen.
information, go to
• It saves tax dollars because it costs the
General Instructions
government less.
U.S. Series I Savings Bonds
Purpose of Form
• It is more convenient. You don't have to
You can request that your refund (or part of
make a trip to the bank to deposit your
Use Form 8888 if:
it) be used to buy up to $5,000 in series I
check.
savings bonds. You can buy them
• You want us to directly deposit your
electronically by direct deposit into your
IRA
refund (or part of it) to either two or three
TreasuryDirect® account. See instructions
accounts at a bank or other financial
You can have your refund (or part of it)
under Part I for details. Or, if you don't
institution (such as a mutual fund,
directly deposited to a traditional IRA, Roth
have a TreasuryDirect® account, you can
brokerage firm, or credit union) in the
IRA, or SEP-IRA, but not a SIMPLE IRA.
buy paper savings bonds. See the
United States or
You must establish the IRA at a bank or
instructions under Part II for details.
• You want to use at least part of your
other eligible financial institution before you
refund to buy up to $5,000 in paper or
request direct deposit. Make sure your
Specific Instructions
electronic series I savings bonds.
direct deposit will be accepted. You must
also notify the trustee or custodian of your
An account can be a checking, savings,
Part I
account of the year to which the deposit is
or other account such as:
to be applied (unless the trustee or
If you are filing Form 8888 only
• An individual retirement arrangement
custodian won't accept a deposit for 2017).
to buy paper series I savings
(IRA),
TIP
If you don't, the trustee or custodian can
bonds, skip Part I and go to
• A health savings account (HSA),
assume the deposit is for the year during
Part II.
• An Archer MSA,
which you are filing your return. For
• A Coverdell education savings account
▲
If you file a joint return and
example, if you file your 2017 return during
!
(ESA), or
complete Form 8888, your
2018 and don't notify the trustee or
spouse may get at least part of
• A TreasuryDirect® online account.
custodian in advance, the trustee or
the refund.
CAUTION
You can't have your refund deposited into
custodian can assume the deposit to your
more than one account or buy paper series I
IRA in 2018 is for 2018. If you designate
Lines 1a, 2a, and 3a
savings bonds if you file Form 8379, Injured
your deposit to be for 2017, you must
Enter the portion of your refund you want
Spouse Allocation.
verify that the deposit was actually made to
directly deposited to each account. Each
Deposit of refund to only one account. If
the account by the due date of the return
deposit must be at least $1.
you want your refund deposited to only one
(without regard to extensions). If the
Your entire deposit may be deposited in
account, don't complete this form. Instead,
deposit isn't made by that date, the
one account. If there are any delays in the
request direct deposit on your tax return.
deposit isn't an IRA contribution for 2017.
processing of your return by the IRS, your
In that case, you must file an amended
Account must be in your name. Don't
entire refund will be deposited in the first
2017 return and reduce any IRA deduction
request a deposit of your refund to an
account listed on Form 8888. Make sure
and any retirement savings contributions
account that isn't in your name, such as
the first account you list on Form 8888 is
credit you claimed.
your tax return preparer's account.
an account you would want the entire
Although you may owe your tax return
You and your spouse, if filing
▲
refund deposited in if this happens.
!
preparer a fee for preparing your return,
jointly, each may be able to
An account can be a checking, savings,
don't have any part of your refund
contribute up to $5,500 ($6,500
or other account such as an IRA, HSA,
deposited into the preparer's account to
if age 50 or older at the end of
CAUTION
Archer MSA, ESA, or TreasuryDirect®
pay the fee.
2017) to a traditional IRA or Roth IRA for
online account.
2017. You may owe a penalty if your total
The number of refunds that can be
Lines 1b, 2b, and 3b
directly deposited to a single account or
contributions exceed these limits, and these
The routing number must be nine digits.
prepaid debit card is limited to three a year.
limits may be reduced depending on your
The first two digits must be 01 through 12
After this limit is reached, paper checks will
compensation and income. For more
or 21 through 32. On the sample check
be sent instead. Learn more at
information on IRA contributions, see Pub.
below, the routing number is 250250025.
590-A. If the limits on IRA contributions
Tony and Jennifer Maple would use that
Limits.
change for 2018, Pub. 590-A will have the
routing number unless their financial
new 2018 limits.
Amended return. Don't attach Form 8888
institution instructed them to use a different
to Form 1040X. A refund on an amended
routing number for direct deposits.
return can't be directly deposited to an
account or used to buy savings bonds.
Sample Check
TONY MAPLE
1234
SAMPLE
▲
JENNIFER MAPLE
123 Pear Lane
15-0000/0000
Anyplace, GA 00000
PAY TO THE
ORDER OF
$
Routing
Account
number
number
DOLLARS
ANYPLACE BANK
Anyplace, GA 00000
Don't include
the check number.
For
|
|
:250250025
:202020"'86".
◀
1234
Note: The routing and account numbers may be in different places on your check.
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