8109-B No longer accepted by bank

[mwrightea]

Clients have been informed that their bank, Bank of The West will no longer accept the 8109-b paper coupons. Their options at this bank are file electronically throught the bank for a fee or sign up @ EFTPS. Is this happening else where?

[kcjenkins]

Some banks are bullies. I'd look into changing banks, myself.

[dexterman]

Yes it's true, it is totally up to the bank - some banks will no longer accept the 8109's and other banks will charge to process the 8109's.

[ACS41]

It seems banks should be helping their customers like any good business would! When I was Controller of a bank we would accept virtually anything resembing an 8109-B. This includes ones that say "copy only do not use" or the like. If it was on a napkin and contained the required elements, it worked for us.

[kcjenkins]

With good reason, since the coupon is only a tool the bank is to use to get the info input correctly for the IRS. Since the form is not sent on anywhere, as long as it has the info needed, there is no logical reason for the bank to refuse to take a copy. Some banks just don't want to fool with them, because they don't get paid by the IRS for processing the payments, so use any excuse to reject them. But faced with a bank telling me 'no', I'd raise a bit of a polite fuss, because most banks want their customers to see them as helpful and courteous, and having s customer in the lobby complaining politely but loudly is not good for that image that they want. Funny how in such cases, often a higher level officer will step up and take the deposit.

[ed_accountant]

There was a similiar post on this subject and here is my duplicate comment!

You can mail in your form 8109-B

It is too late now, but you can always mail in your substitute deposit coupon 8109 to:

"If you prefer, you may mail your coupon and payment

to: Make your check or money order payable to

“Financial Agent.”

Financial Agent

Federal Tax Deposit Processing

P.O. Box 970030

St. Louis, MO 63197"

From IRS instructions,

http://www.irs.gov/publications/p15/ar02.html#d0e2271

See the IRS Instructions under Tax Deposit. The above is copied from the IRS instructions..

[mwrightea]

Thanks everyone for your replies. Clients are considering changing Banks. I have a feeling that this will take a lobby effort as it appears that the 8109-B paper coupons cannot be charged for processing. NAFTA legislation created this, and if a bank refuses the 8109-B paper they can charge for the service of taking your deposits.

[Karen Lee]

Keybank no longer takes the 8109-B and told my client he could use their key tax service. Forgot to mention the $4.50 charge. When I took over his books we changed to eftps. Then the bank was holding his deposits for a extraordinary amount of time, charging OD fees etc. I showed up at the bank and told them they were going to lose this account if they didn't lighten up. They actually did lighten up on the holding of funds, surprised me!

This is a very small community with 3 banks and a CU. My step-daughter is the manager of one of the banks (not Key) and all banks are trying to get me to recommend their services. Of course there is some nepotism but my step-daughter doesn't even try to snow me.

Karen

[JohnH]

Nothing wrong with nepotism as long as you keep it in the family.

[zeke]

Nothing wrong with nepotism as long as you keep it in the family.

and incest is relative!

z

[Catherine]

It seems banks should be helping their customers like any good business would! When I was Controller of a bank we would accept virtually anything resembing an 8109-B. This includes ones that say "copy only do not use" or the like. If it was on a napkin and contained the required elements, it worked for us.

I had one client switch to EFTPS because their bank was fussing about accepting coupons (had to go to a manager, not a teller), holding funds too long, and the client was getting IRS notices saying, in essence, "we got money we didn't know what to do with so we're applying it to your 941 tax deposits for month X" (when the coupon had clearly shown Form 941, month X). They charge these folks close to $100/month in bank fees for several accounts plus the float on all the money they hold; how much more do they want?

Oh, I forgot. They also want a few billion from us taxpayers so their doofus managers can get juicy bonuses. So of _course_ they don't want to deal with tax deposit coupons!

Catherine