How to Use a Bank Product (RT)

Step One:

• In order to use a bank product, the return you complete must have a refund due. You cannot use a bank product for returns that do not have a refund due.

Step Two:

• From the summary page, select "Enter Refund Payment Details" as shown in the image below.

Step Three:

• If you wish to use a bank product, select a disbursement method from the list. Only disbursement methods that you are approved for will show on this page. If you are approved with multiple banks, they will all list on this page.

Step Five:

• If you wish to offer an Advance or Pre-Ack Advance, you will notate this in the next section. If you select Pre-Ack Advance, the advance will be processed before the IRS begins processing e-file returns.

• Advances are subject to interest and additional fees (see your bank for details).

• If there is an option to "Elect Advance without RT," this means that your fees will not be deducted from the refund. The RT (refund transfer) is what allows your tax preparation fees to be deducted from the refund.

Step Six:

• You must select "Documentary" for Bank CIP Method in order to note that you verified the taxpayer's identity with physical documents.

Step Seven:

• Fill out the page containing the taxpayer's address and identification information.

• This information must be filled out in order to use a bank product.

• Each bank will have different requirements for ID types, addresses, and the other required information on this page.

Step Eight:

• Download the documents and have your taxpayer sign them. 

• Sign and date the page, and submit.

Step Nine:

• Submit your return via e-file.

• Your return must be submitted in order for the bank product to process. This includes pre-ack advances and normal advances.

• You cannot use a bank product on a return that is not e-filed.