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OPTIONAL Participant Direct Deposit Authorization Instructions: 1. Participant or guardian completes all information and signs at the bottom. 2. Attach a voided check or typed bank verification with
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How to fill out participant direct deposit authorization
How to fill out participant direct deposit authorization:
01
Obtain the participant direct deposit authorization form from the relevant financial institution or employer.
02
Fill in your personal information accurately, including your full name, address, and contact information.
03
Provide your employee or participant identification number, if applicable.
04
Indicate the financial institution where you want the direct deposit to be made. This includes providing the bank's name, routing number, and your account number.
05
Specify the type of account you have, such as checking or savings.
06
Review the authorization form for any additional information required, such as the start date for the direct deposit.
07
Sign and date the form, ensuring that your signature matches the one on file with the financial institution or employer.
08
Submit the completed form to the appropriate department, such as human resources or payroll.
Who needs participant direct deposit authorization:
01
Employees who wish to have their salary or wages directly deposited into their bank account usually need to submit a participant direct deposit authorization form.
02
Participants in retirement plans or certain financial programs may also need to complete this form to receive payments directly into their bank accounts.
03
Individuals who receive reimbursements or benefits from organizations may be required to provide direct deposit authorization to expedite the payment process.
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