Learn how to have your tax refund deposited directly to one or more of your American Funds.
You can have your tax refund deposited directly to your American Funds traditional IRA, Roth IRA, SEP IRA, Coverdell ESA or non-retirement mutual funds. Keep in mind that you cannot request a deposit of your tax refund into a fund that is not registered in your name.
Direct deposit is easy to use. Just select it as your refund method through your tax software, or tell your tax preparer you want direct deposit. You can even use direct deposit if you are one of the few people still filing by paper.
Use these instructions to deposit your entire refund into a single account and fund. If the fund is to be deposited into multiple accounts and/or funds, see "Direct deposit into multiple accounts/funds" below.
1. Sign In to your TurboTax Online account
2. Click Take me to my return
3. Click File on the left-hand side of the "TurboTax Online" screen
4. Click Start or Revisit
5. Click Direct deposit
6. First, make sure the I want my refund deposited into this account box is unchecked
7. Scroll down and select Continue
8. On the "Let's get your bank account info" screen, enter the account you want your refund deposited into
1. Choose Direct deposit as your return method
2. Enter the bank name as American Funds
3. Enter the Account type as Checking
4. Enter the American Funds routing number: 121000248
5. Enter your account information in Line 1d in the exact format described below:
Use IRS Form 8888 if you would like to direct your tax refund to multiple accounts/funds (up to three).
Direct deposit to a single account/fund
1. Go to the Refund section of the form
2. In Box 35A, enter the amount of the full refund
3. In Box 35B, enter 121000248 as the American Funds routing number
4. In Box 35C, place a check mark next to Checking
5. In Box 35D, enter the account number to represent the account information in this format:
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This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.