How do I submit a CMS Form 588?

Table of Contents

Part V-Authorization The CMS-588 EFT Form must be submitted to us with a handwritten or electronic signature.

What is a CMS-588?

EFT is a form of direct deposit that allows the transfer of Medicare payments directly from a Medicare contractor’s bank to a provider’s bank account. CMS requires that all providers enrolling or changing existing enrollment information must use EFT.

How do I update my Medicare EFT?

To change your current EFT information, please complete an EFT Authorization Agreement Form (CMS-588). Under section 1, check the box for change to current EFT enrollment. The EFT authorization agreement form is in the Enrollment Center of our website.

What is an EFT application?

This Electronic Funds Transfer EFT App Electronic Funds Transfer Authorization Form Application allows employers or other individuals to capture bank information from an employee to direct deposit funds into their bank account.

How long does it take for an EFT to come through?

Your EFT payment might take anywhere from one to four days. Some electronic funds transfers are sent and received on the same day (e.g., wire transfers). EFT payments typically only process on business days.

How do I get an EFT number?

You can sign up for EFT through your Revenue Online account or by using the DR 5785. You will receive a unique identifier number and instructions on where to send the payment and the necessary formatting of the ACH credit transaction.

How do I set up electronic payments?

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How do I check my EFT payment?

Here’s how:

In Online Banking for Business, select the Payments & Receivables tab.
Under “File Transfer Facility (FTF)”, choose File History.
Select “EFT” and “Received Files” then select Search.
Look for the DEFR 200 report for your EFT Account ID and the last approval date.

What’s an EFT number?

EFT payment (electronic funds transfer) is a term that includes many types of electronic payments, including ACH transfers and wire transfers. EFT payments are also called e-Payments or e-Checks (electronic checks) because each transaction is completed online and doesn’t include paper checks in the payment process.

Where can I find the CMS 588 website?

cms 588 (451kb) (pdf) Home A federal government website managed and paid for by the U.S. Centers for Medicare & Medicaid Services. 7500 Security Boulevard, Baltimore, MD 21244

How do I check the status of my cms-588 application?

Mail the completed CMS-588 Form to: Complete and accurate applications will usually be processed within 45-60 days. You will receive a confirmation letter when all processing has been completed. To check the status of your EFT application or any other provider enrollment application, you may use First Coast’s Enrollment status lookup.

How do I submit my signed eft form to Medicare?

Make a copy of the signed form for your records before mailing it to your Medicare Administrative Contractor (MAC) with your supporting documents and EFT Authorization Agreement form. Find your MAC (PDF).