In anticipation of the Economic Impact Payments, the Department of the Treasury’s Bureau of the Fiscal Service is adding seven (7) new Routing Transit Numbers (RTNs) for issuing Tax Refund Payments. Economic Impact Payments will appear as a standard tax refund payment by Automated Clearing House (ACH). Financial Institutions should be prepared to receive payments using these RTNs as early as April 8, 2020.
In accordance with Nacha operating rules, Tax Refund and Economic Impact Payments will be issued with the one-position Identification Code Designator (ICD) followed by the RTN in the Company Identification field.
The following table maps the field values found in the ACH Company/Batch Header (“5”) record of IRS Tax Refund and Economic Impact Payments processed by Treasury.