Direct deposit your tax refund

You can have your tax refund deposited directly to your American Funds traditional IRA, Roth IRA, SEP IRA, Coverdell ESA or non-retirement mutual funds account. Keep in mind that you cannot request a deposit of your tax refund into a fund that is not registered in your name.

Direct deposit is easy to use. Just select it as your refund method through your tax software, or tell your tax preparer you want direct deposit. You can even use direct deposit if you are one of the few people still filing by paper.

Use these instructions to deposit your entire refund into a single account and fund. If the fund is to be deposited into multiple accounts and/or funds, see “Direct deposit into multiple accounts/funds” below.

1. Sign In to your TurboTax Online account

2. Click Take me to my return

3. Click File on the left-hand side of the “TurboTax Online” screen 

4. Click Start or Revisit

5. Click Direct deposit

6. First, make sure the I want my refund deposited into this account box is unchecked

7. Scroll down and select Continue

8. On the “Let's get your bank account info” screen, enter the account you want your refund deposited into

  • Enter the bank name as American Funds
  • Enter the account type as Checking
  • Enter the American Funds routing number: 121000248
  • Enter your account information in Line 1d in the exact format described below:
    • Enter 253 followed by your fund number and account number
    • Allow 4 spaces for your fund number
    • Allow 10 spaces for your account number

1. Choose Direct deposit as your return method

2.  Enter the bank name as American Funds

3. Enter the Account type as Checking

4. Enter the American Funds routing number: 121000248

5. Enter your account information in Line 1d in the exact format described below:

  • Enter 253 followed by your fund number and account number
    • Allow 4 spaces for your fund number
    • Allow 10 spaces for your account number

Use IRS Form 8888 if you would like to direct your tax refund to multiple accounts/funds (up to three).

Direct deposit to a single account/fund

1. Go to the Refund section of the form

2. In Box 35A, enter the amount of the full refund

3. In Box 35B, enter 121000248 as the American Funds routing number

4. In Box 35C, place a check mark next to Checking

5. In Box 35D, enter the account number to represent the account information in this format:

  • In the first 3 spaces, enter 253
  • In the next 4 spaces, enter the fund number. If the fund number is less than 4 digits, enter one or two zeros as needed preceding the fund number.
  • Examples
    • For Capital World Growth and Income Fund® Class A shares, you would enter 0033
    • For Capital World Growth and Income Fund Class C shares, you would enter 0333
  • In the last 10 spaces, enter the account number. If the account number is less than 10 digits, enter zeros preceding the account number.
    • Example: An 8-digit account number with zeros added would be 0012345678

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This material does not constitute legal or tax advice. Investors should consult with their legal or tax advisors.
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