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How to Activate Form 8050 (Direct Deposit of Corporate Tax Refund) in 990 Tracker

Form 8050, Direct Deposit of Corporate Tax Refund, tells the IRS to deposit an organization's tax refund directly into its bank account instead of mailing a paper check.

In 990 Tracker, you don't fill out Form 8050 on its own screen. You turn it on with a checkbox on the General Information screen and enter the bank details there. 990 Tracker then generates Form 8050 automatically and attaches it to the return it belongs with.

Which returns include Form 8050

When activated, Form 8050 attaches to Form 990-T, Form 990-PF, or Form 4720. It does not attach to Form 990.

Return

Form 8050 attached?

Form 990-T

Yes

Form 990-PF

Yes

Form 4720

Yes

Form 990

No

Form 990 is an information return and does not produce a refund, so there is no refund to direct-deposit. If an organization files only Form 990, Form 8050 will not appear even when the checkbox is selected.

How to activate Form 8050

  1. Open the engagement and go to the General Information screen.
  2. Scroll to the Form 8822-B section. Directly below it, select the Activate 8050 checkbox.
  3. Complete the three required fields that appear:
    • Routing Number: the bank's 9-digit routing number.
    • Bank Account Number: the organization's account number.
    • Account Type: select Checking or Savings.
  4. Save your changes.

That's all the input Form 8050 needs. There is no separate Form 8050 screen to complete.

Viewing, printing, and e-filing Form 8050

Form 8050 appears as part of the full Form 990-T, 990-PF, or 4720. To see it, print the complete form in either of these ways:

  • From the overview page: print the full Form 990-T, 990-PF, or 4720.
  • Through package printing: generate the package that includes the full form.

When you e-file Form 990-T, 990-PF, or 4720, Form 8050 is included in the electronic submission automatically, as long as it is activated on General Information.

Important notes and troubleshooting

Unchecking the box clears the bank details. If you deselect Activate 8050, the routing number, account number, and account type are deleted. They are not restored if you select the box again, so you'll need to re-enter them.

I selected the checkbox, but I don't see Form 8050.

  • Confirm the organization is filing Form 990-T, 990-PF, or 4720. Form 8050 never attaches to Form 990.
  • Confirm all three required fields are completed on General Information.
  • Make sure you are printing the full form, not a single page or schedule.

Still need help? If Form 8050 is still missing after these checks, contact K1x Support (support@k1x.io) and include the engagement name and the form you are printing.