Maryland Direct Deposit of Maryland Income Tax Refund to More Than One Account

Direct Deposit of Maryland Income Tax Refund to More Than One Account
2023 588 Direct Deposit of Maryland Income Tax Refund to More Than One Account
MARYLAND
FORM

588

First Name	

Print Using Blue or Black Ink Only

2023

DIRECT DEPOSIT OF
MARYLAND INCOME
TAX REFUND TO MORE
THAN ONE ACCOUNT

MI

Last Name	

Social Security Number OR Federal Identification Number

Spouse's First Name	

MI

Spouse's Last Name	

Spouse's Social Security Number

1. a. Amount to be deposited in first account .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
b. Routing number (9-digit)

c.

Checking	

1a.

00

2a.

00

3a.

00

4.

00

Savings

d. Account number
e. Name(s) as it appear(s) on the bank account
2. a. Amount to be deposited in second account .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
b. Routing number (9-digit)

c.

Checking	

Savings

d. Account number
e. Name(s) as it appear(s) on the bank account
3. a. Amount to be deposited in third account  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
b. Routing number (9-digit)

c.

Checking	

Savings

d. Account number
e. Name(s) as it appear(s) on the bank account
4. T
 otal amount to be directly deposited. Add lines 1a, 2a, and 3a. The total must equal the amount
shown on Form 502, line 48; Form 505, line 51; or Form 504, line 35. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
General Instructions
Purpose of Form
Use Form 588 if you want us to directly deposit your tax refund to
either two or three of your accounts at a bank or other financial
institution (such as a mutual fund, brokerage firm or credit union)
in the United States. If you file Form 588, you cannot choose to get
any part of your refund as a check. You cannot request a deposit
of your refund to an account that is not in your name (such as

COM/RAD	755

your preparer's own account). If you are filing Form 502INJ,
Maryland Injured Spouse Form, you may not direct deposit
portions of your refund into multiple accounts, stop here and
do not use this form. Instead, you may request to deposit
your refund into one financial institution’s account on your
income tax return.
Note. If you want your refund deposited to only one account, do
not complete this form. Instead, request direct deposit on your tax
return.

MARYLAND
FORM

588

Do not file a Form 588 on which you have crossed out
or whited out any numbers. If you do, the State of
Maryland will reject your direct deposit request and
send you a check.
Why Use Direct Deposit?
•	

You get your refund faster by direct deposit than you do by
check.

•	

Payment is more secure. There is no check that can get lost or
stolen.

•	

It is more convenient. You do not have to make a trip to the
bank to deposit your check.

•	

It saves tax dollars because it costs the government less.

Be sure to check with your financial institution to make
sure your direct deposits will be accepted. Verify your
account and routing numbers. If you enter the wrong
account information, the State of Maryland will not be
responsible for recovering that refund. Do not use the routing
number on a deposit slip if it is different from the routing
number on your checks.
Specific Instructions
Some financial institutions may not allow a joint refund to be
deposited to an individual account. For any direct deposit that a
financial institution rejects, a check will be sent instead; the State of
Maryland is not responsible if a financial institution rejects a direct
deposit.
Code Number
Enter code number 588 on one of the code number lines located to
the right of the telephone number area on your tax return. Attach
your completed Form 588 if you entered code 588 on your tax
return. We are unable to effect direct deposit of your refund to more
than one account if you fail to enter code 588 and attach this form
to your tax return.
Lines 1a, 2a, and 3a
Enter the portion of your refund you want directly deposited to each
account. Each deposit must be at least $1. The total of lines 1a, 2a,
and 3a must equal the total amount of your refund.
Lines 1b, 2b, and 3b
Enter the routing number on the lines provided. The routing number
must be nine digits. The first two digits must be 01 through 12 or 21
through 32. Otherwise, the direct deposit will be rejected and a check
will be sent instead. On the sample check on page 2 of this form,
the routing number is 050250025. Chris and Pat Taxpayer would use
that routing number unless their financial institution instructed them
to use a different routing number for direct deposits.
Ask your financial institution for the correct routing number to use.
Individual taxpayers have the option to use all or part of their
Maryland income tax refund to purchase U.S. Series I Savings Bonds.
•	

•	

•	

2023

DIRECT DEPOSIT OF
MARYLAND INCOME
TAX REFUND TO MORE
THAN ONE ACCOUNT

You must have an established account with TreasuryDirect to
which the designated portion of your refund will be deposited.
Visit treasurydirect.gov for information on opening an
account.
Follow the General Instructions for filling out Form 588. The
Routing Number for TreasuryDirect is 051736158. Fill in your
TreasuryDirect account number. REMEMBER, you must have
an established TreasuryDirect account.
Once your designated refund has been deposited into your
TreasuryDirect account, you may purchase U.S. Series I
Savings Bonds by accessing your TreasuryDirect Account. For
more information, visit treasurydirect.gov

Page 2

Lines 1c, 2c, and 3c
Be sure to check only one box for the account type to ensure your
deposit will be accepted. If you are not sure, ask your financial
institution whether you should check the “Checking” or “Savings”
box.
Lines 1d, 2d, and 3d
The account number can be up to 17 characters (both numbers
and letters). Omit spaces, hyphens, and special symbols. Enter
the number from left to right and leave any unused line blank. On
the sample check below, the account number is 00202086. Do not
include the check number.
Lines 1e, 2e, and 3e.
Enter the name(s) as it appear(s) on the bank account.
Line 4
The total on line 4 must equal the total amount of your refund as
shown on your tax return. If the total on line 4 is different, a check
will be sent instead. The total on line 4 must also equal the total of
the amounts on lines 1a, 2a, and 3a.
Changes in Refund Due to Math Errors or Refund Offsets
The rules below explain how your direct deposits may be adjusted.
Math errors. The following rules apply if your refund is increased or
decreased due to a math error.
Refund increased. If you made an error on your return and the
amount of your refund is increased, the additional amount will be
deposited to the last account on line 2 or 3 as applicable.
Example. Your return shows a refund of $300 and you ask that the
refund be split among three accounts with $100 in each account.
Due to an error on the return, your refund is increased to $350. The
additional $50 will be added to the deposit to the account on line 3.
Refund decreased. If you made an error on your return and the
amount of your refund is decreased, the reduced amount will be
taken from the accounts on line 3, 2 and 1, in that order and as
applicable.
Example. Your return shows a refund of $300 and you ask that the
refund be split amongst three accounts with $100 in each account.
Due to an error on your return, your refund is decreased by $150.
You will not receive the $100 you asked us to deposit to the account
on line 3 and the deposit to the account on line 2 will be reduced by
$50.
Note. If you appeal the math error and your appeal is upheld, the
resulting refund will be a paper check.
Refund offset. If your refund is used by the Comptroller of Maryland
to pay (offset) past-due federal tax, state tax or certain other debts
(such as other state’s income tax, child support, spousal support, or
certain federal non-tax debts), the offset is taken from the deposits
to accounts on lines 3, 2 and 1, in that order and as applicable.

Sample Check
TIM TAXPAYER
TINA TAXPAYER
321 Happy Lane
Town, MD 20000
PAY TO THE
ORDER OF

TOWN BANK
Town, MD 20000

PLE

M

SA
Routing
number

0004
15-0000/0000

$
DOLLARS

Do not include
check number

Account
number

For

:050250025

:002020008600

0004

Note: The routing and account numbers may be in different places on your check.

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