Form 8050 - Direct Deposit of Corporate Tax Refund
Form 8050 – Direct Deposit of Corporate
Tax Refund
- Updated December 19, 2025 - 11.00 AM - Admin, Tax990
Form 8050 is used by eligible organizations to request that an IRS tax overpayment be deposited directly into a U.S. bank or financial institution account, such as a checking, savings, brokerage, or mutual fund account.
When submitted with an eligible IRS return, Form 8050 provides the IRS with the necessary banking instructions to issue refunds electronically rather than by paper check. Electronic refunds are generally processed more efficiently, helping reduce mailing delays, improve delivery security, and give organizations greater visibility into the refund process.
Table of Contents
Who can use Form 8050?
Form 8050 may only be used by organizations that are eligible to receive refunds through direct deposit and are filing one of the following IRS returns:
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Form 990-T (Exempt Organization Business Income Tax Return)
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Form 990-PF (Private Foundation)
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Form 1120-POL (Political Organization Income Tax Return)
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Form 4720 (Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code)
Note: The filer is not eligible for direct deposit if:
- The receiving financial institution is a foreign bank or a foreign branch of a U.S. bank, or
- The filer has applied for an Employer Identification Number (EIN) but is filing the tax return before receiving it.
What information is required to complete Form 8050?
To ensure accurate processing of your refund, the IRS requires valid banking and identification details. When completing Form 8050, you must provide:
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Employer Identification Number (EIN)
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Name of the financial institution
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Routing number
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Account number
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Type of account (checking or savings)
What is the deadline to file Form 8050?
Form 8050 must be filed along with the IRS return for which you are requesting a refund. The filing deadline for Form 8050 is the same as the due date of the corresponding return, including any approved extensions.
For example, if you’re claiming a refund for an overpayment associated with Form 990-PF, you must file this return by the 15th day of the 5th month after your organization’s accounting period.
The IRS does not accept Form 8050 as a standalone submission. It must be included at the time the return is filed.
Tax990 helps you claim your refund easily using Form 8050
When you file Form 990-PF, Form 990-T, or Form 1120-POL with Tax990 and your return results in an overpayment for the applicable tax period, you can include Form 8050 to request direct deposit of your refund.
During the filing process, simply provide your bank account details. Tax990 will automatically attach Form 8050 to the eligible return and submit it to the IRS, allowing your refund to be issued electronically rather than by paper check. This helps ensure faster processing and secure delivery of your refund.