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Electronic funds withdrawal (EFW)

If you would like to set up automatic payments for your fiduciary clients, you must electronically file their return. An automatic debit from your client’s bank account can occur for the following types of fiduciary returns: Form 1041, amended Form 1041, Form 7004 (extension), or Form 1041-ES (estimated tax payments filed with Form 1041).
Once you have prepared your client's return and are ready to set up the automatic payments and electronically file, complete the following steps.
  1. Open the
    1041
     Screen in the
    General
     folder and enter the fiduciary's phone number in the
    Telephone number
    field.
  2. Select the
    Bank
     tab and enter the bank account information.
  3. Open the ELF Screen or ELFExt Screen (extension) in the Electronic Filing folder and indicate the date to have the amount debited from the bank account or one or more quarters for the estimated tax payments to be electronically withdrawn in the proper
    Electronic funds withdrawal
     fields.
    To confirm that your EFW request is present in the filing instructions, go to
    Print
    , then
    Preview
    , and select
    Filing Instructions
     or
    Estimate Filing Instructions
    .
  4. Prepare the 1041 electronic file.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1041 Fiduciary
  • Subject: Payments
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