Instructions For Form 1040 - U.s. Individual Income Tax Return - 2016 Page 73
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107 2017 Form 1040—Lines 76a Through 76d
extensions). If the deposit isn't made by
Your deposit is to a savings ac-
Account must be in your name. Don’t
that date, the deposit isn't an IRA contri-
count that doesn't allow you to write
request a deposit of your refund to an
bution for 2017. In that case, you must
checks, or
account that isn't in your name, such as
file an amended 2017 return and reduce
Your checks state they are payable
your tax return preparer’s account. Al-
any IRA deduction and any retirement
through a financial institution different
though you may owe your tax return
savings contributions credit you claim-
from the one at which you have your
preparer a fee for preparing your return,
ed.
checking account.
don’t have any part of your refund de-
posited into the preparer's account to pay
You and your spouse, if filing
Line 76c
the fee.
!
jointly, each may be able to
contribute up to $5,500 ($6,500
Check the appropriate box for the type
The number of refunds that can be di-
CAUTION
if age 50 or older at the end of 2017) to
of account. Don’t check more than one
rectly deposited to a single account or
a traditional IRA or Roth IRA, for 2017.
box. If the deposit is to an account such
prepaid debit card is limited to three a
You may owe a penalty if your contribu-
as an IRA, health savings account, bro-
year. After this limit is reached, paper
tions exceed these limits, and the limits
kerage account, or other similar account,
checks will be sent instead. Learn more
may be lower depending on your com-
ask your financial institution whether
at IRS.gov/DepositLimit.
pensation and income. For more infor-
you should check the “Checking” or
Why Use Direct Deposit?
mation on IRA contributions, see Pub.
“Savings” box. You must check the cor-
590-A.
rect box to ensure your deposit is accep-
You get your refund faster by di-
ted. If your deposit is to a TreasuryDir-
rect deposit than you do by check.
For more information on IRAs, see
ect
®
online account, check the “Savings”
Payment is more secure. There is
Pub. 590-A and Pub. 590-B.
box.
no check that can get lost or stolen.
TreasuryDirect
®
. You can request a
It is more convenient. You don’t
Line 76d
deposit of your refund (or part of it) to a
have to make a trip to the bank to depos-
TreasuryDirect
®
online account to buy
it your check.
The account number can be up to 17
U.S. Treasury marketable securities and
It saves tax dollars. It costs the
characters (both numbers and letters).
savings bonds. For more information, go
Include hyphens but omit spaces and
government less to refund by direct de-
to go.usa.gov/3KvcP.
posit.
special symbols. Enter the number from
Form 8888. You can have your refund
It's proven itself. Nearly 98% of
left to right and leave any unused boxes
directly deposited into more than one ac-
social security and veterans' benefits are
blank. On the sample check shown here,
count or use it to buy up to $5,000 in pa-
sent electronically using direct deposit.
the account number is 20202086. Don’t
per series I savings bonds. You don’t
include the check number.
If you file a joint return and
need a TreasuryDirect
®
account to do
If the direct deposit to your ac-
!
check the box on line 76a and
this. For more information, see the Form
count(s) is different from the amount
attach Form 8888 or fill in lines
CAUTION
8888 instructions.
you expected, you will receive an ex-
76b through 76d, your spouse may get at
planation in the mail about 2 weeks after
least part of the refund.
Line 76a
your refund is deposited.
IRA. You can have your refund (or part
You can't file Form 8888 to split your
Reasons Your Direct Deposit
of it) directly deposited to a traditional
refund into more than one account or
IRA, Roth IRA, or SEP-IRA, but not a
Request Will Be Rejected
buy paper series I savings bonds if Form
SIMPLE IRA. You must establish the
8379 is filed with your return.
If any of the following apply, your direct
IRA at a bank or other financial institu-
deposit request will be rejected and a
tion before you request direct deposit.
Line 76b
check will be sent instead.
Make sure your direct deposit will be
The routing number must be nine digits.
You are asking to have a joint re-
accepted. You also must notify the trust-
The first two digits must be 01 through
fund deposited to an individual account,
ee or custodian of your account of the
12 or 21 through 32. On the sample
and your financial institution(s) won't al-
year to which the deposit is to be applied
check shown here, the routing number is
low this. The IRS isn't responsible if a
(unless the trustee or custodian won't ac-
250250025. Charles and Mary Ellen
financial institution rejects a direct de-
cept a deposit for 2017). If you don’t,
Keys would use that routing number un-
posit.
the trustee or custodian can assume the
less their financial institution instructed
The name on your account doesn't
deposit is for the year during which you
them to use a different routing number
match the name on the refund, and your
are filing the return. For example, if you
for direct deposits.
financial institution(s) won't allow a re-
file your 2017 return during 2018 and
fund to be deposited unless the name on
Ask your financial institution for the
don’t notify the trustee or custodian in
the refund matches the name on the ac-
correct routing number to enter on
advance, the trustee or custodian can as-
count.
line 76b if:
sume the deposit to your IRA is for
Three direct deposits of tax re-
The routing number on a deposit
2018. If you designate your deposit to be
funds already have been made to the
slip is different from the routing number
for 2017, you must verify that the depos-
same account or prepaid debit card.
on your checks,
it was actually made to the account by
the due date of the return (not counting
-73-
Need more information or forms? Visit IRS.gov.
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