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Direct Deposit Your Tax Refund

The IRS allows direct deposit for your income tax refunds, permitting you to divide your refund among up to three accounts. Learn how to deposit your refund directly into Fidelity accounts.

You may be able to direct deposit your IRS and/or state tax refund into your Fidelity account(s). This is an easy way to direct the money into a tax-advantaged or other investment account without the temptation to spend it.

The processes below refer to federal tax forms, but the routing and account numbers are the same for depositing state tax refunds. Please refer to IRS or state instructions on direct deposit to determine if you can use this feature.

To deposit your refund into a single account

If you are depositing your federal income tax refund into only one account, you can simply fill out the two lines in the refund section of Form 1040 or Form 1040A.

To deposit your refund into multiple accounts

If you want to deposit your refund into two or more accounts, you must fill out IRS Form 8888. Be sure to indicate on Form 1040 or Form 1040A that you have attached Form 8888.

How to adjust Fidelity account numbers on IRS forms

Whether you are depositing into one or multiple accounts, you’ll need to know how to enter Fidelity routing and account numbers on the IRS forms. You may have to make simple adjustments, as Fidelity account numbers may include letters or an amount of numbers that the IRS cannot accommodate. The tabs below will help you through the process.

Choose the tab for the type of account you’d like to enter on your IRS form.

To deposit your refund into an IRA, follow these steps. Be sure to bear in mind that the contribution is subject to IRS contribution limits and deadlines and, by default, it will be considered a contribution for the current calendar year.

Line 1a. Indicate the amount of the refund to deposit in this account.

b. Add the Fidelity routing number: 101205681.

c. Choose Checking as the account type.

d. As your account number, enter Fidelity prefix 39900000 followed by your IRA account number.

For example, if your IRA account number is 123-456789, then your 17-digit depositor account number is 39900000123456789.

Contact Fidelity if you are making a prior-year contribution

If you wish to designate the refund deposit as a 2013 tax-year contribution, please contact a Fidelity representative after the deposit has been received by Fidelity. The deposit will default to a current-year (2014) contribution unless you notify us.

To qualify as a 2013 tax-year contribution, the deposit must be received by Fidelity no later than April 15, 2014. Remember: The 2013 aggregate annual contribution limit for Roth and Traditional IRAs is $5,500 ($6,500 if you are age 50 or over as of December 31, 2013).

Be aware of IRA limits and deadlines for the current year

Depositing your tax refund into an IRA counts as a contribution and is subject to IRA contribution limits and deadlines.

Tax refunds deposited into a Fidelity IRA in 2014 will be treated as 2014 tax-year contributions automatically, unless you request otherwise. The 2014 IRA contribution limit is $5,500 ($6,500 if you are age 50 or over as of December 31, 2014).

Next steps

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Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.