Common use of Changing Bank Information for ACH Debit Method Clause in Contracts

Changing Bank Information for ACH Debit Method. Access Code OLD BANK INFORMATION Date bank information will be changed: Account Name Account Number (Not to exceed 17 digits) Bank Name Transfer/Routing Number (Requires 9 digits) NEW BANK INFORMATION Reminder: Please attach voided check. Account Name Account Number (Not to exceed 17 digits) Bank Name Transfer/Routing Number (Requires 9 digits) GENERAL INSTRUCTIONS Please make a copy of your application for your records. For more information, see Tax Information Release (TIR) No. 95-06, “Questions and An- swers on Paying Taxes by Electronic Funds Transfer;” TIR No. 99-01, “Filing of Tax Returns Required by Taxpayers Who Pay Taxes by Elec- tronic Funds Transfer (EFT);” TIR No. 2004-01, “Act 113, Session Laws of Hawaii 2004, Relating to Income Tax Withholding;” and Tax Announce- ment 2011-04, “Additional Tax Types Required to be Paid by Electronic Funds Transfer (EFT).” PENALTIES. Section 231-9.9, Hawaii Re- vised Statutes (HRS), imposes a penalty of 2% of the tax due if those who are required to make payments by EFT do not do so on or before the date prescribed without reasonable cause. This is in addition to any other penalties. Also, section 40-35.5, HRS, allows DOTAX to assess a $25 service fee on electronic funds transfer payments that are dishonored. This service fee cannot be waived. SPECIFIC INSTRUCTIONS Part I — Taxpayer Information Enter the identification number for the tax type. If you have more than one Hawaii Tax Iden- tification Number (HTIN) for a tax type you are paying by EFT, you must submit a separate Form EFT-1 for that HTIN. All taxpayer information must be completed and must match the taxpayer information on file with DOTAX.

Changing Bank Information for ACH Debit Method. Access Code OLD BANK INFORMATION Date bank information will be changed: Account Name Account Number (Not to exceed 17 digits) Bank Name Transfer/Routing Number (Requires 9 digits) NEW BANK INFORMATION Reminder: Please attach voided check. Account Name Account Number (Not to exceed 17 digits) Bank Name Transfer/Routing Number (Requires 9 digits) GENERAL INSTRUCTIONS Please make a copy of your application for your records. For more information, see Tax Information Release (TIR) No. 95-06, “Questions and An- swers on Paying Taxes by Electronic Funds Transfer;” TIR No. 99-01, “Filing of Tax Returns Required by Taxpayers Who Pay Taxes by Elec- tronic Funds Transfer (EFT);” TIR No. 2004-01, “Act 113, Session Laws of Hawaii 2004, Relating to Income Tax Withholding;” and Tax Announce- ment 2011-04, “Additional Tax Types Required to be Paid by Electronic Funds Transfer (EFT).” PENALTIES. Section 231-9.9, Hawaii Re- vised Statutes (HRS), imposes a penalty of 2% of the tax due if those who are required to make payments by EFT do not do so on or before the date prescribed without reasonable cause. This is in addition to any other penalties. Also, section 40-35.5, HRS, allows DOTAX the Department to assess a $25 service fee on electronic funds transfer payments that are dishonored. This service fee cannot be waived. SPECIFIC INSTRUCTIONS Part I — Taxpayer Information Enter the identification number for the tax type. If you have more than one Hawaii Tax Iden- tification Number (HTIN) for a tax type you are paying by EFT, you must submit a separate Form EFT-1 for that HTIN. All taxpayer information must be completed and must match the taxpayer information on file with DOTAXthe Department.