Beginning January 1, 2011 all Federal tax payments from qualified retirement plan distributions are required to be submitted electronically using the Electronic Federal Tax Payment System (EFTPS). EFTPS requires businesses and individuals to submit Federal tax deposits via the website or by phone.
» EFTPS Frequently Asked Questions (FAQs)
EFTPS ENROLLMENT INSTRUCTIONS
You may have already received a notice from EFTPS regarding the enrollment of your plan.
If you HAVE received a notice regarding enrollment:
- Call 800.555.3453 to activate your enrollment.
- Enter your retirement plans' trust EIN and the PIN you received in the mail from EFTPS.
- Enter your financial institution information (including account number, bank routing number and account type).
- Enter the phone number of the person to contact in case of questions. This could be you or a member of your staff.
- Record the enrollment number you receive and keep for future reference.
- E-mail PSG@polycomp.net once your enrollment is complete.
- Begin submitting Federal income tax withholding online (www.EFTPS.com) or by phone!
If you HAVE NOT received a notice regarding enrollment:
- Before you get started, make sure you have the following:
- Retirement plans' trust EIN (not the company's employer identification number).
- Financial institution information (account number, bank routing number and account type).
- Phone number of the person to contact in case of questions, and address and name as they appear on your IRS tax documents.
- Log onto www.EFTPS.com.
- Select “Enrollment” from the menu bar.
- Accept the “Privacy Act” disclosure.
- Elect to enroll as a “Business.”
- Follow the prompts and supply the requested information.
- Within 10-15 business days after completing the online enrollment you will receive a confirmation package in the mail from EFTPS which will include your PIN.
- Upon receipt of this package, call 800.555.3453 and follow the steps outlined above to activate your enrollment.
WHO SHOULD I CONTACT WITH QUESTIONS?
For questions regarding your EFTPS account or enrollment, contact EFTPS customer service at 800.555.4477.
All other questions should be directed to our Participant Services Group at 800.952.8800 or PSG@polycomp.net.