How to Complete a TPG Bank Application
To apply for a Santa Barbara (TPG) bank product, including Regular RT and Prefund advance options
- If you are primarily interested in Disbursement Options for the Prefund advance and the Regular RT options, refer to the article SB-TPG Disbursement types for RT and Prefund.
- To generate a bank application in a return, consult this article: How to add a ’bank product’ (RAC) to a tax return.
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.
1. Once a bank product is selected, use the Attached Forms menu to open the BANK APPLICATION.
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.
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 requirements, 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" may be selected.
6. Prefund Information
For reference, refer to the article What is an Easy Advance or Prefund?
This option allows for a Prefund disbursed only on a Prepaid Green Dot Card with the remaining federal refund amount disbursed as a regular TPG bank product. The bank administrative fee is the only fee deducted from the Prefund. All other fees are deducted from the subsequent RT after IRS funding. In the following section Account Information, refer to the article link SB-TPG Disbursement types for RT and Prefund.
7. Account Information
For reference, refer to the article SB-TPG Disbursement types for RT and Prefund.
8. Truth In Lending Disclosure
This section includes:
- Expected Federal Refund Amount
- Authorized Deductions (including bank app fees and fees related to tax preparation)
- Amount Paid to You (This amount may be less if the IRS does not issue the full refund, or if a taxpayer owes any outstanding debts)
- Prefund - Advance
- Amount Paid after Advance