On April 20th, the IRS mailed off the first round of Economic Impact paper checks. If you are eligible for a payment and do not have a bank account on record with the IRS, you can expect to receive a check in the mail. Now, if you have received a refund by direct deposit in 2018 or 2019, the IRS will use the bank information you submitted for your refund to send your payout through direct deposit. But, if you did not receive a refund, you can use the Get Your Payment tool to add bank information if you would prefer to receive your check by direct deposit. Receiving your Economic Impact Payment by direct deposit is the fastest method for receiving your payout.
Items you will need to add your bank account:
The first 3 items can be found on the bottom of one of your checks, through your online banking applications or by contacting your financial institution directly.
- Routing number.
- Account number.
- Account type.
- Adjusted gross income (AGI) from your 2019 return. If you have not yet submitted your 2019 tax form, then you can use your 2018 return.
- Refund or amount owed on your 2019 return. If you have not yet submitted your 2019 tax form, then you can use your 2018 return.
Steps to add your bank:
- Go online to the IRS website and access the ‘Get My Payment’ tool.
- Follow the steps on each page. If you are eligible for a payout, you will get to the ‘Need More Information’ page to add your bank account.
*If you need assistance with the tool, go to Updated IRS “Get My Payment” Tool – Check Stimulus Payment Status for instructions.
- Once you are on the ‘Need More Information’ page, click on the ‘Enter Bank Information’ button.
- You will then be routed to an ‘Additional Verification Information’ page where you will enter your AGI and tax refund or amount owed from your 2019 or 2018 tax form.
- You will then be directed to the Direct Deposit Information page where you will enter your account type, routing number and account number.
- Once your bank account information is accepted, the next time your run the ‘Get My Payment’ tool, you should receive a message stating the status of your payout. You will either get a date you can expect your payment, or you will get a message stating that your payment date has not been calculated yet.
More information about the Economic Impact Payment:
Will I Receive My Adult Dependent’s Stimulus Check?
Updated IRS “Get My Payment” Tool – Check Stimulus Payment Status.
