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Intuit

Understand why you need to update your account info for payroll

Learn about why you are required to provide your business and Principal Officer info in QuickBooks Desktop Payroll.

If you use QuickBooks Desktop Payroll Enhanced or QuickBooks Desktop Payroll Assisted and pay your employees by direct deposit, you may need to provide some info about your business and Principal Officer. 

You’ll need to make sure to update your account info by August 31, 2021 to avoid any issues with paying your employees by direct deposit. 

What info do I need to provide?

You’ll need to add the following info:

  1. Physical business address
  2. Principal Officer’s physical home address
  3. Principal Officer’s Social Security Number
  4. Principal Officer’s date of birth
  5. Business type
  6. Industry type

Who is a Principal Officer?

The principal officer is the person associated with the payroll bank account.

Why do I need to provide this information?

Federal and state regulations require us to verify your business and the principal officer identity when you pay your employees by direct deposit. 

What happens if I don’t update my info by August 31?

If you don’t update your account info by August 31, you won’t be able to pay your employees and contractors by direct deposit.  You can continue to pay them by paper check. 

If you use QuickBooks Desktop Payroll Enhanced, you’ll also lose the ability to electronically pay your payroll taxes and file your tax forms.  You can continue to pay and file your taxes and forms manually. 

What if I don’t want to give you my Social Security Number or any other required info? 

We are required by law to collect business and Principal Officer info if you use direct deposit service, including the Principal Officer’s Social Security Number. If you can’t or don’t want to provide the Social Security Number or other required info, you can opt to pay your employees and contractors by paper check, and would need to make your payroll tax payments manually.

Why can’t I update the info needed?

You’ll need to do these two things to update the business and principal officer info:

  1. Get the latest QuickBooks Desktop release.
  2. Sign in as the Primary Admin in your QuickBooks company file and sign in through your Intuit Account

Can I make the updates if I’m an accountant?

You can enter this info for your clients if you: 

  1. Can sign in to the Intuit Account 
  2. Are the Primary Admin or Company Admin for the QuickBooks company file
  3. Have the Payroll direct deposit PIN

If you aren’t able to do the above, then the Primary or Company Admin needs to add the info.  Or your client can assign you as the Company or Primary Admin. 

Why do you need a physical address?  The IRS accepts PO Boxes.

State and federal laws require us to get a physical address in addition to the P.O. Box address accepted by the IRS.

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