Free Minnesota Bank Authorization for Direct Debit of Tax - PDF Form Download
Minnesota Bank Authorization for Direct Debit of Tax is in cases where tax return is filed in an electronic manner. This form is not used in case taxes are filled on paper. The form basically gives authority to transfer funds from your account in the amount of tax owed by you.
The amount owed by you is shown in your return filing. The form authorizes the Minnesota Department of Revenue to start debit entries to the account of the person filling the form. This form will remain in effect till the Minnesota Department of Revenue receives a fax or written letter stating the termination. The termination must be made 30 days before the effective date.
The form starts with a blank space for the current year at the top. Followed by that the form has multiple checking boxes and blank spaces. When filling the form one would be required to write their name or the name of the entity that is giving authority. The names of partners, in case of a partnership, and a spouse, in case the account is a joint account. After the name the complete address of the entity or person must be provided along with the zip code. On the right side one needs to fill in their Social security number or their tax id number specific to Minnesota. Below the person’s social security number, the social security number of their spouse also needs to be filled in case of a joint account.
Below the fill in the blanks there is a checking box. The details regarding the account, whether it is a checking account or a savings account need to be filled. This must be followed by filling the routing number and the account number in the boxes provided. On the right side of the form one needs to fill in the date on which they want the money to be withdrawn. Below it the amount to be withdrawn also needs to be mentioned. The last part of the form requires signatures from the person filling the form. The partner and the spouse, whichever may be applicable. The date and contact number are the last two columns of the form.
This authority will remain in effect until the department has received written or faxed (651-556-5130 or 651-556-3130) notification of its termination at least 30 days prior to the effective date.
Text Version of this Form
Complete if you are electronically filing your tax return (Form M1, M2, M3, M4, M4NP or M8), and you want to authorize a transfer of funds from your account to pay tax owed as shown on your return. Do not complete if filing a paper return.
Your name or name of entity Social Security or Minnesota tax ID number Spouse’s name, if filing joint (or partner if a partnership) Spouse’s Social Security number (if filing joint) Street address
ERO: Attach to this form the Minnesota copies of all W-2, W-2G and 1099-R forms and any other form that shows Minnesota income tax withheld and keep with your records.
9/10 Do NOT mail Form BANK to the Department of Revenue unless requested.
Form BANK instructions
If you are electronically filing your
Form M1, M2, M3, M4, M4NP or M8, and you want to have your taxes due automatically withdrawn (direct payment) from your checking or savings account, complete
If you are the taxpayer
Requesting the direct payment option is voluntary and applies only to the electronic return you are filing.
By signing the BANK form, you are authorizing the Department of Revenue to automatically withdraw the taxes due directly from your checking or savings account.
You must sign and date this form. If you are filing a joint return, your spouse must also sign.
Your tax preparer is required to keep a signed BANK form until the end of the calendar year in which your return was electronically filed.
If you are preparing your own return, keep the BANK form with your tax records.
Do not mail this form to the Department of Revenue.
If you are the Electronic Return Originator (ERO)
Currently, the IRS requires you to keep the W‑2, W‑2G and 1099 forms and other documents for three years. You should also keep with these IRS records the signed, original Form BANK, Minnesota copies of all W‑2, W‑2G and 1099 forms and any other form that shows Minnesota income tax withheld.
If you choose to discard Minnesota records earlier, the minimum length of time you must keep these documents on file is until the end of the calendar year in which the return was filed electronically.
If the Department of Revenue requests copies of Form BANK and/or W‑2, W‑2G or 1099 forms, you must provide the information within five working days.
Do not mail Form BANK unless requested to do so by the Department of Revenue.