588: Direct Deposit of Maryland Income Tax Refund to More Than One Account (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 588 requests direct deposit of your 2024 Maryland income tax refund into two or three accounts. It lists the amount to deposit in each account, routing and account numbers, account types, and account holder names.
Who files this form
Use Form 588 if you want your Maryland income tax refund deposited into two or three of your accounts at financial institutions in the United States. All accounts must be in your name, and you cannot choose to receive part of the refund by check.
Do not use Form 588 if:
- You want your refund deposited into only one account. Request direct deposit on your income tax return instead.
- You are filing Form 502INJ, Maryland Injured Spouse Form. You may request direct deposit into one account on your income tax return, but you cannot split the refund among multiple accounts.
What you'll need
Have the following information ready:
- Your name and Social Security number or federal identification number, plus your spouse’s name and Social Security number if applicable.
- Your refund amount from Form 502, line 48; Form 505, line 51; or Form 504, line 35.
- For each account: the amount to deposit, nine-digit routing number, account number, account type (checking or savings), and names exactly as they appear on the account.
Check with each financial institution to confirm the correct routing and account numbers and that it will accept the deposit.
How to file
- Print using blue or black ink only.
- Enter the amount to deposit into each of two or three accounts. Each deposit must be at least $1.
- Complete the routing number, account type, account number, and account names for each deposit.
- Add lines 1a, 2a, and 3a on line 4. The total must equal your entire refund shown on Form 502, line 48; Form 505, line 51; or Form 504, line 35.
- Enter code 588 on one of the code number lines to the right of the telephone number area on your tax return.
- Attach the completed Form 588 to your tax return.
Common mistakes
- Crossing out or whiting out numbers. Maryland will reject the direct deposit request and send a check instead.
- Forgetting code 588 or the attachment. You must enter code 588 on your tax return and attach Form 588 to split your refund among accounts.
- Entering incorrect bank details. Verify your routing and account numbers. Maryland is not responsible for recovering a refund sent using incorrect account information. Do not use a deposit slip’s routing number if it differs from the number on your checks.
- Using an invalid routing number. It must have nine digits and begin with 01 through 12 or 21 through 32. Otherwise, a check will be sent instead.
- Marking both account types or including extra characters. Check only one account-type box. Account numbers may contain up to 17 letters and numbers. Omit spaces, hyphens, special symbols, and the check number.
- Entering a line 4 total that differs from your refund. Maryland will send a check instead. Line 4 must also equal the sum of lines 1a, 2a, and 3a.
- Assuming a joint refund can go into an individual account. Some financial institutions do not allow this. If an institution rejects a deposit, a check will be sent instead.
Questions people ask
Can I receive part of my refund by check?
No. If you use Form 588, you cannot choose to receive any part of your refund by check.
What happens if a math error changes my refund?
If your refund increases, the extra amount goes into the last account listed on line 2 or 3, as applicable. If your refund decreases, the reduction is taken from the accounts on lines 3, 2, and 1, in that order, as applicable. If you successfully appeal the math error, the resulting refund will be a paper check.
What happens if my refund is used to pay past-due debts?
An offset for past-due federal or state taxes or certain other debts is taken from deposits to the accounts on lines 3, 2, and 1, in that order, as applicable.
Can I use my refund to buy U.S. Series I Savings Bonds?
Yes. Individual taxpayers may use all or part of their refund, but must already have a TreasuryDirect account. Enter routing number 051736158 and your TreasuryDirect account number. After the deposit arrives, access your TreasuryDirect account to purchase the bonds. Visit treasurydirect.gov for more information.