Completing an Application

1. Log in to the Drake Software Support website using your Drake Software account credentials.

2. Navigate to Account > Account Info. Verify your information and Save any changes.

3. Go to Account > Bank Application. Below the EFIN, choose the bank to offer products for.

4. Enter all required information. When finished, click Submit Completed Application.

Cancel Application

Bank applications must be canceled at the bank level. Contact the bank to cancel the application.

• EPS – (888) 782-0850

• Republic Bank – (866) 491-1040

• Santa Barbara (TPG) – (800) 779-7228

• Refund Advantage – (800) 967-4934

• Refundo – (866) 414-9947

Change Active Bank

From the Drake Software Support website, go to Account > Bank Application > Bank Status tab, and choose an Active bank for this EFIN.

Check Application Status

From the Drake Software Support website, go to Account > Bank Application > Bank Status tab.

Application Locked

Bank applications are locked if Software Purchase Assistance is applied to the ERO’s Drake Software account. This is because the bank either has or will be loaning money to Drake Software to help purchase software on the ERO’s behalf, thus the loan amount is now owed to the bank. If the ERO believes that their application should be unlocked, contact Drake Software Support at (828) 524-8020.

Application Not Submitted

Bank applications cannot be submitted if there are errors on the application. From the Drake Software Support website, go to Account > Bank Application, and below the EFIN, choose the applicable bank. Any errors are shown in red at the top of the bank application; affected fields are also highlighted red. Resolve all errors and click Submit Completed Application.

Application Grayed Out

Bank enrollment typically opens October 1. Once the second, full version of Drake Tax is released—typically the first week of January—bank applications are “locked” to prevent certain information from being changed that would otherwise cause bank rejects and Drake Software “B” acks (acknowledgments). If changes need to be made to a locked application, the ERO must contact Drake Software Support; a Drake Software bank analyst will then review the change and, if appropriate, unlock the application.

Setup in Drake Tax

To import banking information, go to Setup > Firms. Enter your EFIN and press Confirm. Once your EFIN is confirmed, the banking setup will also be auto-filled. Select the Banking tab to verify your data.

Once the applicable information is auto-filled, select Save at the top of the Firm Setup window.

Saving the information in Firm Setup activates the bank screen for your banking partner.

Direct Deposit Information

Direct deposit information must be updated on the bank application. From the Drake Software Support website, go to Account > Bank Application, and below the EFIN, choose the applicable bank.

Direct deposit information entered on Account > Direct Deposit Information is used primarily for dictating where to deposit add-on fees and bank rewards. Master accounts also have the option to enter direct deposit information on this page that is specific to new bank applications; this information flows to new bank applications created by sub-offices, but it does not update direct deposit information on existing bank applications. Existing direct deposit information must be updated at Account > Bank Application.

Add-on Fee Locked

Once an ERO transmits a return containing a bank product, all add-on fees for the applicable bank are “locked in” and cannot be changed for the remainder of the tax year. Per banking requirements, add-on fees associated with a particular bank must be consistent for each return tied to said bank and transmitted by the ERO. Add-on fees can vary per bank, but not among returns receiving bank products from the same bank.

EFIN Issues

EFIN Changed

If an EFIN was recently changed, any bank applications associated with the changed EFIN are marked incomplete. Bank applications are completed on a per-EFIN basis. When a new EFIN is received, an updated bank application containing the new EFIN must be submitted.

If the EFIN was updated for an existing Drake Software account:

1. Log in to the Drake Software Support website.

2. Go to Account > Bank Application.

3. Below the EFIN, choose the applicable bank.

4. All information from the prior bank application is carried over. Verify that the information is accurate and click Submit Completed Application.

If the EFIN is for a new Drake Software account, a new bank application must be completed at the Drake Software Support website > Account > Bank Application).

Master EFIN

The Bank app master EFIN cannot be changed when logged in to the Drake Software Support site using a sub-office account. To update the master EFIN, log in to the Drake Software Support website using the master account’s Drake Software credentials, and go to Account > Bank Application. Below the EFIN, choose the applicable bank for which to update the Bank app master EFIN.

Fee Issues

Add-on Fee Locked

Once an ERO transmits a return containing a bank product, all add-on fees for the applicable bank are “locked in” and cannot be changed for the remainder of the tax year. Per banking requirements, add-on fees associated with a particular bank must be consistent for each return tied to said bank and transmitted by the ERO. Add-on fees can vary per bank, but not among returns receiving bank products from the same bank.

Fee Not Available

• (if located in Connecticut or Illinois) Due to state banking regulations, these fees cannot be charged by tax return preparers residing in Connecticut or Illinois. See Drake Tax - CT - Requirements for Preparers and Drake Tax - IL - Bank Products and Fees for details.

• (if part of a multi-site) The master account can edit both add-on and franchise network fees for sub-offices, regardless of setup options. The master account also has the ability to lock or unlock these fields for all sub-offices—these fields cannot be toggled on a per-sub-office basis. To allow all sub-offices to edit add-on or franchise network fees, log in to the Support site using the master account’s Drake Software credentials, go to Account > Account Info, and disable either or both of the following options, clicking Save when finished:

  • Lock Network/Franchise Fee on sub-office bank applications

  • Lock Add-on Fee on sub-office bank applications

For more information see Drake Tax - Multi-Site Accounts.

Document Preparation Fee

Due to state banking regulations, document preparation fees cannot be charged by tax return preparers residing in any of the following states:

• Arkansas

• Connecticut

• Illinois

• Maryland

• New York

See Drake Tax – Charging All Taxpayers the Same Fee for more information about restricted states.