What is electronic funds transfer?
Electronic Funds Transfer (EFT) is a method used by financial institutions to move money from a taxpayer's account into the state's account, eliminating the use of paper checks. This is initiated through the use of the Automated Clearing House system.
Legislation mandates that certain Corporation taxpayers meeting specific criteria remit all payments by EFT. Legislation also mandates that if a Corporation does not meet the specific criteria; they may elect to voluntarily participate in the EFT program.
If you would like assistance regarding EFT, please call the EFT Unit at 916.845.4025 Monday through Friday 8 a.m. until 5 p.m.