Federal Direct Deposit of Corporate Tax Refund

Direct Deposit of Corporate Tax Refund
Form 8050 (Rev. November 2016)
Form

8050

(November 2016)
Department of the Treasury
Internal Revenue Service

Direct Deposit of Corporate Tax Refund
▶ Attach

to Form 1120 or 1120S.
▶ Information about Form 8050 and its instructions is at www.irs.gov/form8050.

OMB No. 1545-0123

Employer identification number

Name of corporation (as shown on tax return)

Phone number (optional)

1.

2.

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):
Checking

General Instructions

How To File

Section references are to the Internal Revenue
Code unless otherwise noted.

Attach Form 8050 to the corporation’s Form
1120 or 1120S after Schedule N (Form 1120),
if applicable. To ensure that the corporation’s
tax return is correctly processed, see
Assembling the Return in the instructions for
Form 1120 or 1120S.

Purpose of Form
File Form 8050 to request that the IRS deposit
a corporate income tax refund (including a
refund of $1 million or more) directly into an
account at any U.S. bank or other financial
institution (such as a mutual fund or brokerage
firm) that accepts direct deposits.
The benefits of a direct deposit include a
faster refund, the added security of a
paperless payment, and the savings of tax
dollars associated with the reduced
processing costs.

Who May File
Only corporations requesting a direct deposit
of refund with its original Form 1120 or 1120S
may file Form 8050.
The corporation is not eligible to request a
direct deposit if:
• The receiving financial institution is a foreign
bank or a foreign branch of a U.S. bank, or
• The corporation has applied for an
employer identification number but is filing its
tax return before receiving one.
Note: For other corporate tax returns,
including Form 1120X, Amended U.S.
Corporation Income Tax Return, and Form
1139, Corporation Application for Tentative
Refund, a corporation may request a direct
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
Refund by Check
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
return does not match the name on the
account.
• The financial institution rejects the direct
deposit because of an incorrect routing or
account number.
• The corporation fails to indicate the type of
account the deposit is to be made to (that is,
checking or savings).

Specific Instructions
Line 1. Enter the financial institution’s routing
number and verify that the institution will
accept a direct deposit. See the sample
check below for an example of where the
routing number may be shown.
For accounts payable through a financial
institution other than the one at which the
account is located, check with your financial
institution for the correct routing number. Do
not use a deposit slip to verify the routing
number.
Line 2. Enter the corporation’s account
number. Enter the number from left to right
and leave any unused boxes blank. See the
sample check below for an example of where
the account number may be shown.

Paperwork Reduction
Act Notice

Savings

the information. We need it to ensure that
you are complying with these laws and to
allow us to figure and collect the right
amount of tax.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB control
number. Books or records relating to a form
or its instructions must be retained as long as
their contents may become material in the
administration of any Internal Revenue law.
Generally, tax returns and return information
are confidential, as required by section 6103.
The time needed to complete and file this
form will vary depending on individual
circumstances. The estimated burden for
business taxpayers filing this form is
approved under OMB control number
1545-0123 and is included in the estimates
shown in the instructions for their business
income tax return.
If you have comments concerning the
accuracy of these time estimates or
suggestions for making this form simpler, we
would be happy to hear from you. You can
write to the IRS at the address listed in the
instructions of the tax return with which this
form is filed.

We ask for the information on this form to
carry out the Internal Revenue laws of the
United States. You are required to give us

Sample Check
ABC Corporation
123 Main Street
Anyplace, NJ 07000

Routing
number
(line 1)

Account
number
(line 2)

Note: The routing and account numbers may be in different places on the corporation’s check.
Cat. No. 30211X

Form

8050

(11-2016)