Problems with direct deposit for the child tax credit? How to fix it before August 2

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You can use the Child Tax Credit Update Portal to update your banking information.

Sarah Tew / CNET

The first one payment of the child tax credit was sent to millions of families last Thursday. Many payments were issued by direct deposit if the IRS had banking information from previous tax refunds or stimulus checks. Eligible parents received up to $ 300 per eligible child and will continue to receive monthly payments until December. But what if you haven’t set up the correct direct deposit information with the IRS, or if you haven’t added your bank details at all? You may wait a few more days for a paper check to reach you in the mail.

The IRS plans to issue direct deposits on the 15th of each month: July 15, August 13 (since 15th falls on a Sunday), September 15, October 15, November 15, and December 15. You still have time to update your banking information for your August payment. Otherwise, your checks will continue to arrive in the mail.

Read on to learn how to set up direct deposit using the IRS Update Portal, one of the tools available to help families register for and manage their child tax credit payments. We will keep this story updated regularly as the IRS releases new information. Plus, here’s how calculate how much money you should receive if you are concerned that your July payment is too much or too little.

Use the Child Tax Credit Update Portal to set up direct deposit

If you need to add or update your bank details with the IRS, you can do so using the IRS Child Tax Credit Update Portal. If you do not have an IRS account, you will need to create an ID.me account before having access to the portals.

Once logged in, you will be able to see if you have already signed up to receive your direct deposit payments. If you are, you’ll see your bank routing number and the last four digits of your account number. Otherwise, you will need to add your information. If this is incorrect account information, you can update it.

The deadline to add your bank details to get the August payment by direct deposit is August 2 – the same deadline for unsubscribe from monthly checks.


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If your direct deposit information is up to date but you still have a paper check

If you get a child tax credit check even though you’ve set up direct deposit, you’re not alone. Some Reddit users report that the update portal shows they are receiving a paper check instead of a direct deposit payment, even though they have added their bank details.

Here’s what you’ll want to do: Check that your bank details are correct and that there are no errors. If there are no errors, you may have missed the June 28 deadline to add or update your contact information, so the IRS will use what it had on file to. the time. If your bank details are correct and you receive another paper check in August, it may be time to contact the IRS to see what happens.

What to do if you don’t have an open bank account

If you would rather receive your child tax credit payments by direct deposit rather than by paper check, but do not have a bank account, the IRS says you can find a financial institute to open a bank account at low cost or at no cost. Visit the Federal Deposit Insurance Corporation for details on opening an account or finding a bank branch near you.

What should married couples do when filing jointly

If you are a married couple filing jointly, you will each need to add or update your direct deposit information. Even if you share a bank account, you will both need to update your bank account information on the same day on the same account to continue receiving joint payments.

If someone doesn’t update their information, it’s likely that they’ll instead receive a check for that partial monthly payment. For example, if you expect to receive $ 300 per month, your family may receive $ 150 directly deposited and $ 150 in the form of a postal check.

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Members of married couples filing jointly will need to individually add their banking information.

Sarah Tew / CNET

For more information, here is how to withdraw monthly child tax credit payments. Also here is how to track your monthly payments and what the IRS Child Tax Credit Portals are for.


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