How many times can I use my bank account for the Bank Refund Transfer (RT)?
To prevent fraudulent income tax return filing, the RT Bank (the bank handling the refund transfer) will only deposit money into the same account four (4) times for the same tax year. If you are receiving both a federal and state refund, this would count as two deposits. Therefore, you could only use that same account for one more return that would also be receiving a federal and state refund before reaching the limit of four deposits.
If you attempt to use the same banking information a fifth time, you will receive the error message "The bank account information has already been used four times. Please enter a different account.". You will be unable to continue e-filing until you have entered a different bank account. This check is in place for your security and your convenience. Note: The IRS and state(s) will not deposit any monies into an account for which the Taxpayer and/or spouse is not listed as the name on the designated bank account.
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