Direct Deposit Compliance Update for Social Clubs Through Desktop

Hi jvanlanduyt!

Thanks for posting here. Let me assist you in updating your direct deposit info.

We only need to update the Principal Officer's info, not the owner. The principal officer is the main contact for a bank account linked to your payroll account that is used for electronic payments including direct deposit. And yes, you need to update the Social Security Number.

In addition, you also need to update the business address, Principal Officer’s physical home address and date of birth, business, and industry type. Please check this link: Understand why you need to update your account info for payroll. This will explain more why you need to provide these details.

I've added some links you'll want to check. These will show you the detailed steps on how to pull up payroll-related reports if you need one"

• Create a payroll summary report

• Excel based payroll reports

Post again here if you need more help. I'll help you!

This still does not answer the question regarding their SSN being linked to a business that is not theirs. This is a person on a board that can be constantly changing. How can I assure my client that this will not come back on them when they file their personal tax return? I can't then charge them for my time to get them out of the mess I had no choice to put them in because of a Federal software mandate???

Thanks for getting back to us, @jvanlanduyt.

I'm here to add some information about your direct deposit concern.

The reason why you need to provide this information is that, Federal and state regulations require us to verify your business and the principal officer's identity when you process or pay your employees by direct deposit. If the principal officer is constantly changing, you all need to update this information to avoid any issues.

Also, since this is for direct deposit purposes only, this will not affect your clients' by the time they will their personal tax return.

You may also read through this article that answers some questions about why you're required to provide these information: Understand why you need to update your account info for payroll.

I'm only a few clicks away if you have any follow-up questions about payroll. I'll be happy to assist. Take care and have a good one!