Unlinking Your Bank Account from TurboTax: A Comprehensive Guide
Feeling a bit tangled up with your bank account and TurboTax? Perhaps you've changed banks, want your refund sent elsewhere, or simply prefer not to have your financial details stored. Whatever your reason, unlinking your bank account from TurboTax can seem a little daunting. But don't worry, you're in the right place! This lengthy guide will walk you through the process step-by-step, ensuring you understand exactly what you need to do.
Let's get started, shall we?
Step 1: Assess Your Filing Status – This is Crucial!
Before you do anything else, it's absolutely vital to understand your current tax filing status with TurboTax. Why? Because the ability to unlink or change your bank account largely depends on whether you've already filed your return.
Sub-heading 1.1: Have You Filed Your Tax Return Yet?
This is the most important question.
If you have NOT yet e-filed your tax return, you generally have the flexibility to change or remove your bank account information. This is the ideal scenario.
If you HAVE already e-filed your tax return, and it has been accepted by the IRS (or your state tax agency), then unfortunately, you cannot change or unlink the bank account for that specific refund. The IRS processes direct deposits very quickly, and once the return is accepted, the destination of the refund is locked in.
Sub-heading 1.2: Is Your Return "Pending" or "Accepted"?
Sometimes, your return might be in a "pending" status after you e-file. While it's pending, it means the IRS hasn't officially accepted or rejected it yet.
Pending Status: In some very rare and specific circumstances, you might be able to intercept or change information if your return is still pending. However, this is highly unreliable and generally not recommended as the window for doing so is extremely small, and often there's no official mechanism to change direct deposit info during this phase. It's best to assume that if you've pressed "file," it's too late to change the direct deposit for that particular refund.
Step 2: Unlinking/Changing Bank Account Before Filing
If you haven't filed your tax return yet, congratulations! You have the freedom to modify your banking information. Here's how you can do it:
Sub-heading 2.1: Navigating to the Refund/Payment Section
Your banking information for direct deposit (or direct debit for taxes owed) is typically handled in the "File" section of TurboTax.
Log in to your TurboTax account. Make sure you're using the correct account associated with your tax return.
Open or continue your tax return. You'll need to be actively working on your return.
Look for the "File" section. This is usually one of the last steps in the TurboTax navigation.
Within the "File" section, you'll typically find a step related to your refund or payment information. It might be labeled something like "Step 2: Your refund/payment info" or "How you want to receive your refund/make your payment." Select "Start" or "Revisit" or "Continue" next to this option.
Sub-heading 2.2: Updating Your Direct Deposit Information
Once you're in the refund/payment section, you'll be presented with options for how you want to handle any refund or payment due.
If you see an option like "Get your refund up to 5 days early," look for and select "See all options" or a similar link. This will expand the choices available to you.
Choose "Direct deposit." Even if it's already selected, clicking it again will often allow you to edit the details.
You should now see the existing bank account information (routing number and account number). You can edit these fields to reflect your new bank account details or simply delete the existing information if you wish to receive a paper check instead (though receiving a paper check might require you to explicitly select that option later).
Carefully enter the new routing number and account number. Double-check, even triple-check, these numbers! A single digit error can cause significant delays or issues with your refund.
Confirm the bank account information as prompted.
Continue through the filing process. Ensure that all subsequent steps confirm your chosen method for receiving your refund.
Sub-heading 2.3: Dealing with TurboTax Fees and Bank Accounts
Sometimes, the option to change bank accounts can be tied to how you plan to pay your TurboTax fees.
If you've opted to pay your TurboTax fees out of your federal refund, this often involves a third-party bank that facilitates the payment. In such cases, the ability to directly "unlink" your personal bank account might be integrated with changing this fee payment method.
If you encounter difficulties, try selecting "Other refund options" or similar. This might lead you to a screen where you can choose to pay your TurboTax fees with a credit/debit card instead of from your refund. Once you select this, you should then be able to enter your desired direct deposit information for your refund, completely separate from the fee payment.
Step 3: What If Your Return is Already Filed and Accepted?
This is where options become very limited. As mentioned in Step 1, if your return has been accepted by the IRS, you cannot change your direct deposit information through TurboTax or the IRS directly for that specific tax year's refund.
Sub-heading 3.1: The IRS's Stance on Direct Deposit Changes
The IRS typically does not allow direct deposit information to be changed or cancelled once a return has been accepted. This is for security and efficiency.
Sub-heading 3.2: What Happens if the Account is Closed or Invalid?
If the bank account you provided is closed or invalid, the bank will usually reject the deposit and return the funds to the IRS.
The IRS will then typically issue a paper check to the mailing address they have on file for you. This process can take several weeks, so patience is key.
It's crucial to ensure your mailing address is up-to-date with the IRS to avoid further delays. You can update your address with the IRS by filing Form 8822, Change of Address (for individual returns).
Sub-heading 3.3: Contacting Your Bank
While you can't change the direct deposit with TurboTax or the IRS, it might be worth contacting your bank if there's an issue with the account. They may have specific procedures for handling incorrect direct deposits, though generally, if the account is closed, the funds will be returned to the IRS.
Step 4: Managing Linked Accounts in TurboTax/Intuit Eco-system (Beyond Refunds)
Beyond the direct deposit for your tax refund, you might have linked bank accounts in your broader Intuit (TurboTax's parent company) ecosystem for other purposes, such as importing transactions for tax preparation. Unlinking these is a separate process.
Sub-heading 4.1: Investor Center or Linked Accounts Section
Some users have reported success unlinking accounts through an "Investor Center" or "Linked Accounts" section within their TurboTax or Intuit account.
Sign in to your TurboTax or Intuit account.
Look for a section related to "Documents," "Linked Accounts," "Account Settings," or "Data & Privacy." The exact naming can vary.
Within this section, you might find a list of linked financial institutions.
Look for an option (often a three-dot menu, a gear icon, or an "Unlink" button) next to the specific account you wish to remove.
Select "Unlink [account name]" or "Remove."
Sub-heading 4.2: Managing Payment Methods within Intuit Account
If the linked account is specifically for payment methods (e.g., for TurboTax fees), you'd typically manage this through your overall Intuit account settings.
Log in to your Intuit account (which is the same login for TurboTax).
Navigate to your "Account Information," "Settings," or "Profile."
Look for a "Payment Methods" section. Here you can add, edit, or delete stored credit cards or bank accounts that might be used for TurboTax product purchases.
Sub-heading 4.3: Consider Account Deletion (Extreme Measure)
If your primary concern is the complete removal of all your data, including linked bank accounts, and you no longer plan to use TurboTax, you can explore the option of deleting your entire TurboTax/Intuit account. Be aware: This is a permanent action and will remove all your tax history and associated data. Only consider this if you are absolutely certain you will not need your past tax information or TurboTax services in the future.
Step 5: Important Considerations and Best Practices
Timeliness is Key: The ability to make changes to your direct deposit is highly time-sensitive. Always try to make any necessary adjustments before you e-file your return.
Verify Information: Always, always double-check all bank account and routing numbers before finalizing. Mistakes can cause significant headaches and delays.
Keep Records: After making any changes, it's a good idea to keep a record of the old and new banking information, along with the date of the change.
Beware of Scams: The IRS will never call, text, or email you demanding immediate payment or asking for bank account verification. Be wary of any suspicious communications claiming to be from the IRS or TurboTax.
Contact TurboTax Support: If you've followed these steps and are still having trouble, or if your situation is complex, don't hesitate to contact TurboTax customer support directly. They can provide personalized assistance.
Frequently Asked Questions (FAQs)
Here are 10 common questions about managing bank accounts with TurboTax, along with quick answers:
How to change my direct deposit bank account in TurboTax before filing?
Navigate to the "File" section, then "Step 2: Your refund/payment info." Select "See all options" and choose "Direct deposit" to enter your new bank details.
How to remove a linked bank account used for importing data into TurboTax?
Sign in to your TurboTax/Intuit account, go to "Documents" or "Linked Accounts," and find the option to "Unlink" or "Remove" the specific financial institution.
How to stop TurboTax from using my old bank account for my refund next year?
When preparing your next year's taxes, ensure you manually update the direct deposit information in the "File" section before e-filing. TurboTax often pre-fills information from previous years, so always review it.
How to know if my direct deposit information was successfully changed in TurboTax?
After making changes, proceed through the filing steps. The final review screens should clearly show the updated direct deposit information before you authorize the e-file.
How to get my refund if I entered the wrong bank account and my return was accepted?
If your return was accepted and the bank account is invalid, the bank will reject the deposit, and the IRS will typically mail a paper check to your address on file.
How to update my bank account for TurboTax payment processing fees?
Log in to your Intuit account, go to "Account Information" or "Payment Methods," and you can update or remove stored payment methods there.
How to unlink my bank account if I already paid for TurboTax with it?
If you paid for TurboTax via direct debit, that transaction is complete. To prevent future automatic payments, you would typically remove that payment method from your Intuit account's "Payment Methods" section.
How to remove my entire financial profile, including linked bank accounts, from TurboTax?
This usually involves deleting your entire TurboTax/Intuit account, which is a permanent action. Only do this if you are absolutely sure you want to remove all your data and tax history.
How to tell if a bank account is linked to my TurboTax online profile versus just for direct deposit?
Direct deposit information is specific to the tax return being filed. Other "linked accounts" are typically for data import (e.g., from banks or investment firms) and are usually managed in a separate "Linked Accounts" or "Investor Center" section of your Intuit account.
How to contact TurboTax support for help with unlinking bank accounts?
You can usually find "Contact Us" or "Support" links on the TurboTax website after logging in. They often offer phone support, chat, or community forums for assistance.
