My Bank Account Is Closed For Stimulus Check

First the irs will try to send it to the bank account.

My bank account is closed for stimulus check. According to the irs the agency is using the bank account information provided on your 2019 tax return or information you have provided to a federal agency that sends you regular benefits to send. The irs has confirmed that if it attempts to use direct deposit but an account is closed the bank will reject the deposit and the irs will mail you a paper check with the address it has on file for you. I know that at our bank before stimulus checks any funds that the bank received via ach that tried to be applied to a closed block account would either be returned back to the sender when account was closed or would end up in a sub ledger under the branch where the account was located when account was blocked.

The irs has not confirmed how many stimulus payments went to closed or invalid accounts but the agency has admitted that some checks went to the wrong destinations because of the speed at which. In an answer to a customer on a faq page about the latest checks a turbotax representative explained that if a person s bank information is incorrect or the account has been closed the bank. Those who closed bank accounts might have trouble getting second stimulus checks quickly.

Then the bank will see that the account is closed and send it back to the irs. However in a post covid post stimulus check world i could see banks changing their policies on how they handle situations like this to try and avoid having to return the. The latest round of 600 stimulus checks is on the way but for people who either changed their bank account information or moved recently the next payment may be delayed.

Eventually the irs will print a paper check and send that to. Closed bank account stimulus check deposits. The stimulus provides up to 600 for individuals and 1 200 for married couples.

However paper checks may take weeks longer to arrive than direct deposits. The irs has already.