CMS-588 2017 free printable template

DEPARTMENT OF HEALTH AND HUMAN SERVICES CENTERS FOR MEDICARE & MEDICAID SERVICES Form Approved OMB No. 0938-0626 ELECTRONIC FUNDS TRANSFER (EFT) AUTHORIZATION AGREEMENT PART I: REASON FOR Submission

How to fill out CMS-588

How to fill out CMS-588

1. Obtain the CMS-588 form from the CMS website or your state health department.
2. Review the instructions provided with the form to understand the required information.
3. Fill out the 'Provider Information' section, including your name, address, and contact information.
4. Enter your National Provider Identifier (NPI) number in the relevant field.
5. Complete the 'Type of Provider' section by checking the appropriate boxes.
6. Provide information regarding your services and the populations you serve.
7. Sign and date the form to certify that the information provided is accurate.
8. Submit the completed form to the appropriate CMS office via mail or email as instructed.

Who needs CMS-588?

1. Healthcare providers seeking to enroll in or maintain their enrollment in Medicare.
2. Organizations that provide Medicare services and need to establish provider status.

People Also Ask about

What does EFT transfer mean?

What is an EFT payment? An Electronic Funds Transfer (EFT) or a direct deposit allows companies to streamline their payables and receivables for everything like invoices from service providers to employee salaries through easy payments between different users' bank accounts in Canada.

What does transfer through EFT mean?

An electronic funds transfer (EFT) is a way to move money across an online network, between banks and people. EFT payments are frequently used in place of paper-based payment methods—like checks and cash—to make transactions faster and safer.

How do EFT transfers work?

An electronic funds transfer (EFT), or direct deposit, is a digital movement of money from one bank account to another. These transfers take place independently from bank employees. As a digital transaction, there is no need for paper documents.

What is required for electronic funds transfer?

Making a payment 7-digit California corporation number. Security code (Include your password if you pay online. 5-digit Tax Type Code. Tax period ending date (the tax year's income year ending date) Payment amount (dollars and cents) Date you want the payment to transfer out of your account and into our bank account.

Is EFT the same as electronic transfer?

EFT is a broad term that describes a variety of electronic payment methods. Two of those methods are ACH transfers and wire transfers. While ACH transfers are usually free but take a couple of days to process, wire transfers are generally quick but may cost a high fee.

What is an example of an EFT transfer?

Examples of common electronic funds transfer transactions include the following: Automatic teller machines (ATM) Direct deposit payroll systems. Direct payments between buyer-seller businesses.

Is EFT payment same as bank transfer?

EFTs usually process funds via an automated clearing house (ACH) while wire transfers are sent directly between one bank and another. Wire transfers have the benefit of being faster and having higher transfer limits than EFT methods, but they carry higher fees and are not reversible.

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What is CMS-588?

CMS-588 is a form used by healthcare providers to enroll in the Medicare program, specifically for electronic funds transfer (EFT) for Medicare payments.

Who is required to file CMS-588?

Any healthcare provider or organization that wants to receive Medicare payments through electronic funds transfer is required to file CMS-588.

How to fill out CMS-588?

To fill out CMS-588, provide the required identifying information such as your National Provider Identifier (NPI), banking details for EFT, and sign the form. Follow the instructions provided with the form carefully.

What is the purpose of CMS-588?

The purpose of CMS-588 is to authorize the Centers for Medicare & Medicaid Services (CMS) to deposit Medicare payments directly into the provider's designated bank account.

What information must be reported on CMS-588?

The information that must be reported on CMS-588 includes the provider's NPI, tax identification number, banking information (account number, routing number), and contact details.