Direct Deposit of Your Tax Return Refund

The IRS allows you to divide your federal income tax refund among up to three existing accounts, including IRAs. The amount must be at least $100.

If you are depositing your refund into only one account, you can simply fill out the two lines in the refund section of Form 1040 and Form 1040A—one line is for the routing number and the other one for your account number. If you want to deposit your refund into two or more accounts, you will need to fill out IRS Form 8888 and indicate on Form 1040 or Form 1040A that you have attached that form.

Tax refunds into a Wells Fargo Advantage Funds IRA

The following information should be included in the Refund section of Form 1040 or on Form 8888:

Deposit of your physical tax return refund check

• Refund checks must be accompanied by written instructions (a letter of instruction, or a re-investment slip is also acceptable). For IRA accounts, this must also indicate the contribution year if mailed prior to April 15, 2013. All refund checks post-marked after April 15, 2013, or checks received without instructions, will be considered current year contributions.
• Refund checks must be made payable to one or more of the registered shareholders on the account(s).

  For example, Mr. and Mrs. Smith have two accounts (one joint, one IRA). They can send in the refund check and a written request to have 50% of their joint tax refund check deposited into their joint account and 50% deposited into the IRA.

• Checks over $50,000 will be subject to verification by Wells Fargo Advantage Funds.

If you have any questions, please email us or call one of our representatives at 1-800-359-3379.

Any tax or legal information in this website is merely a summary of our understanding and interpretations of some of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their particular situation. Wells Fargo Funds Management, LLC, Wells Fargo Funds Distributor, LLC, nor any of their representatives may give legal or tax advice.