Related Information

Question: How to Register a Business for Electronic Funds Transfer (EFT)

Businesses can sign up for Electronic Funds Transfer (commonly referred to as “EFT”) to pay their state taxes. There is no fee associated with EFT payments. However, businesses must register in advance for EFT and, even when registering through Revenue Online ( www.Colorado.gov/RevenueOnline), taxpayer need to wait two business days before making their first payment through EFT.

Additional EFT Tips

  • EFT payments must be completed by 4 p.m. Mountain Time to be considered paid that day.
  • Sign up for EFT through Revenue Online. Taxpayers must first set up a User ID and Password and get access to your Colorado tax account in Revenue Online.
  • Click on Add/Change an EFT under Payment Options.
  • On the screen that appears, select Request a new EFT number and go through the steps displayed.
  • Step 1: Select an ACH Type – Note that ACH Debit is the most common method and taxpayers initiate it. ACH Credit requires taxpayers to contact their financial institution and follow the financial institution’s requirements for initiating the payment.
  • Step 2: Enter Taxpayer Information
  • Step 3: Select Account Types for EFT -- Taxpayers must add the tax type(s) they want to pay by EFT. Note: Taxpayers will be able to choose only from the tax types that have already been set up with Department of Revenue for the entity. To add a new tax to the Colorado Department of Revenue account, taxpayers must use the CR 0100, Colorado Sales Tax/Wage Withholding Account Application, or other appropriate tax account application process.
  • The EFT tax types can be updated at any time in the future by going into Revenue Online, selecting Add/Change an EFT under Payment Options, and then select Update information on an existing EFT number.
  •  After EFT sign up, the department sends an email with the EFT number. However, taxpayers must wait two business days for the number to be registered with our bank. After two business days, a payment can be made with the EFT number.
  • See the EFT program Web page (www.Colorado.gov/revenue/eft) for more information.

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