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March 26, 2021
Question

3rd stimulus still to be deposited into closed bank account,but I updated info through TurboTax on 2nd stimulus. How long will it take for bank to reject my payment?

  • March 26, 2021
  • 1 reply
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I updated my information in the TurboTax emergency portal during the 2nd stimulus, because it was intially set to be deposited to a closed bank account. I got the 2nd stimulus after updating my info, but now the 3rd stimulus was set to be deposited into that same closed account on the 17th of March. My "Get my payment" hasn't updated since then, and I'm not sure what to do.. They should have my updated info on file considering I updated it in the Turbotax portal and got my 2nd one after that, but it still just says it was scheduled to be deposited into a closed account at a bank I'm no longer with.

1 reply

March 27, 2021

Per the IRS, if your payment can’t be delivered to you for any reason (such as the stimulus payment being deposited into an account that is closed), it will be returned to the IRS.

 

Please check Get My Payment if your status states “Need More Information.” Then you can update your direct deposit information. Otherwise the IRS will mail you a check.

 

It probably will take a couple days. Please ask your bank about the details of the deposit reject process.

 

  • If you have an adjusted gross income (AGI) under $75,000 ($150,000 married filing jointly), you will be eligible for the full $1,400 stimulus payment.  
  • Payments will begin to be reduced for individuals making $75,000 or above in AGI ($150,000 for married filing jointly.)
  • Once your AGI reaches $80,000 for individuals ($160,000 married filing jointly) you will be ineligible for a payment.

 

"Unlike the first two payments, the third stimulus payment is not restricted to children under 17. Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents and grandparents" (IRS).

 

Please see How will the third stimulus impact me? for more information.

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