How to Fill Out a Republic Bank Application

Applying For a Bank Product Including Prefund and RT-Lite Advances

To generate a bank application in a return, refer to the article How to add a ’bank product’ (RAC) to a tax return.

NOTE: The transmitting EFIN should be set as Default EFIN on the Office Setup/E-Filing tab under the Office Setup menu. If the setting is aside from theDefault setting , in reference to the 8879, enter the EFIN first, or select from the Choices menu. Then enter 5 (RT - Bank) in the Refund Type box.


1. Once a bank product is selected, use the Attached Forms menu to open the BANK APPLICATION.

  • The very first time a Republic Bank application is supplemented to a return, the State Required Oral Disclosure Reminder will appear for the ERO to review with the taxpayer and spouse. 

IMPORTANT: The application is not meant to be filled out in order from top to bottom. Read and review the application in its entirety before completing. 


2. The top portion of the application contains information generated from other areas of the return, including the Client Data form.

  • Special App: If you are preparing returns in CT, IL, MD, MN, NJ, or NY, this two-letter state code can be entered by opening the Database menu and clicking on EF Originators. Select EFIN used to transmit and click the Edit Button at the bottom of the window. Under ERO State Identification Number, enter the state code and identification number.
  • Bank ID Code:  This is a code assigned by Republic. Enter it manually.

3. Preparer Fees
Preparer Fees will populate from the Billing and Invoice. The Lock option will lock Invoice Calculation.


4. Check Boxes
All check boxes need to be reviewed by the ERO and selected in the order defined by each field. 

   For example: The field "Bank Signature Verification" will need to be checked after the bank application has been printed and signed by the taxpayer and spouse, yet before the application is to be transmitted. 

5. Taxpayer Identification

Taxpayer and Spouse Identification information does not pull from the Client Data form. To meet due diligence requirement, enter Taxpayer and Spouse identification information here. Once it reflects the correct information, verified by examining an unexpired government-issued photo ID, the check box below "Spouse Identification" can be selected.


6. Easy Advance

Refer to  What is an Easy Advance or Prefund

These options allow the taxpayer and/or spouse to receive a bank product funded BEFORE their federal return is funded by the IRS.

The first option allows the taxpayer to apply for both an Easy Advance with the remaining federal refund through a Refund Transfer with Republic Bank. Both the Advance and Refund Transfer must use the same disbursement method as referred to below in Account Information.

The second option, called RT Lite, allows for an Advance with the remaining federal refund disbursed directly from the IRS via a check or direct deposit to the taxpayer. This option requires the ERO to collect their fees directly from the taxpayer; fees will NOT be collected for them.

RT Lite must be turned on for the EFIN. Should it not be turned on, an error message will announce “The RT Lite program has been disabled. See Office Setup.” This can be viewed by opening the Office Setup/Defaults tab under the Setup menu; this selection is forced in.

 

7. Account Information
From Account Information, the following disbursement options can be chosen:

[Option 1] 
Walmart Direct2Cash:
A $7.00 fee is charged when this option is selected. Enter the taxpayer or spouse’s e-mail. Further instructions will be forwarded to them by TPG once the bank product has been approved.
 

[Option 2]
Cashier’s Check:
This option will allow the ERO to print the check once it has been published by the bank.
 

[Option 3]
Direct Deposit:
To populate this section, check the box entitled ‘Client Pass-Through Account Information.’ This will pull account information that has previously been entered on the Client Data form.
 

[Option 4]
NetSpend Prepaid Card:
The Customer Number is found on the Republic NetSpend Card envelope. The taxpayer is notified by the bank when the initial funds are available.

NOTE: "NetSpend" and "Money Clip" refer to the same product. "Money Clip" is the former name.



8. Truth In Lending Disclosures
This section will include amounts for some or all of the following:

  • Amount Paid TO OTHERS on Your Behalf:
    • Federal Refund Transfer Fee paid to Republic
    • State Refund Transfer Fee paid to Republic
    • Amount Paid to Tax Preparer
    • Transmitter Fee
    • Service Bureau Fee
    • Transmitter Ancillary Charge (such as audit protection and iProtect)
    • Walmart Direct2Cash Fee
  • Total Fees
  • Expected Federal Refund Amount
  • Total Fees applied to the Federal Return
  • Advance
  • Amount Paid Directly to You based on your Federal Return


Note that Expected Federal Refund Amount and Amount Paid Directly to You are marked as "Estimated." These amounts might be different if, for instance, the taxpayer and/or spouse have tax-related debt that the IRS is authorized to collect.