By Staff Reports
(Victor Valley) – As of July 1, 2016, the bank that processes electronic fund transfer (EFT) payments for several state agencies has changed from Citibank to Union Bank. This change impacts all California businesses that make electronic payments to the various agencies, including to tax or fee accounts with the State Board of Equalization (BOE).
In addition to the Board of Equalization, the impacted agencies include the Employment Development Department, Franchise Tax Board, Department of Insurance, State Controller’s Office, Department of Health Care Services, State Teachers Retirement System, State Water Resources Control Board, Department of Pesticide Regulation, Department of Industrial Relations, and the Public Utilities Commission.
If you use the BOE’s online payment system to make your payment, no change is required on your part.
However, if you make Automated Clearing House (ACH) Debit payments through the EFT payment processor, visit our new bank and payment processor webpage for instructions. If you pay by ACH Credit, you must notify your financial institution of the new bank information to ensure the correct bank is credited.
ACH Credit transactions with a settlement date on or after July 1, 2016, using incorrect banking information will be returned and may be subject to penalty and interest charges. In addition, any payments that were made to Union Bank prior to July 1, 2016, will also be returned and may be subject to penalty and interest charges.
For more information on EFT payments, visit the BOE’s Frequently Asked Questions webpage. If you have questions about Sales and Use Tax accounts, call our EFT helpline: 1-916-327-4229. For questions about Special Taxes and Fees accounts, call 1-800-400-7115. Additional information is available at www.boe.ca.gov.
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The five-member California State Board of Equalization (BOE) is a publicly elected tax board. The BOE collects $60.5 billion annually in taxes and fees, supporting state and local government services. It hears business tax appeals, acts as the appellate body for franchise and personal income tax appeals, and serves a significant role in the assessment and administration of property taxes. For more information on other taxes and fees in California, visit www.taxes.ca.gov.