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Vanguard - Learn more about the Direct Deposit Service
Personal Investors

Setting up Direct Deposit

How do I deposit a Social Security or other federal government agency payment?

  1. During the online setup process, enter Social Security or federal government agency as your Direct Deposit source.
  2. Complete the setup process and print the Vanguard Direct Deposit Service Instruction Form.
  3. Complete the form as directed and submit it to your local Social Security Administration office. Do not submit the form to Vanguard.
  4. The Social Security Administration will use the form to initiate deposits.

For more information, contact the Social Security Administration.

How do I deposit my tax refund?

  1. During the online process, enter IRS Refund or State Tax Refund as your Direct Deposit source.
  2. Complete the setup process and print the Vanguard Direct Deposit Service Instruction Form.
  3. The Direct Deposit Service Instruction Form will include Vanguard's bank routing number and depositor account number. The IRS or state tax authority will need these numbers to initiate deposits. Enter these numbers where indicated on your tax return(s) and select Checking to have your refund deposited with Vanguard.
  4. File your tax return(s) with the appropriate agency. Do not submit the Direct Deposit Service Instruction Form.

Note: Once you establish the Direct Deposit Service, it will remain in effect at Vanguard unless you delete it. You don't need to reestablish the service for your tax refund each year. You must, however, direct the IRS or state taxing authority to deposit your refund with Vanguard each year.

For more information, contact the IRS or your state tax authority.

How much money can I have deposited?

Deposits can be as large or as small as you like. Bear in mind that tax-deferred retirement accounts are subject to yearly contribution limits, however. Note that Direct Deposit purchases into an Individual Retirement Account (IRA) are for current-year contributions only. Prior-year contributions must be made outside of the Direct Deposit Service.

Can I split deposits among multiple funds?

Yes. Each deposit may be allocated among 1 to 4 Vanguard® mutual fund accounts, provided you already own shares in those funds. During the setup process, we'll show you a list of your eligible mutual fund accounts; tell us what percentage of each deposit should go to each fund.

If you want to make deposits to more than 4 funds, you'll need to set up the Direct Deposit Service for the other funds separately.

Can I receive multiple deposits from one source?

Yes, as long as your Direct Deposit source approves. You can establish multiple deposit options from one Direct Deposit source (for example, if you receive commissions or pension income from your employer in addition to a regular salary). You must establish each Direct Deposit Service separately, however. You may find it helpful to include a “personal memo” when setting up the service to help you identify the deposits.

Can I receive deposits from more than one source?

Yes. You can have as many Direct Deposit sources as you like. You must set up the service for each Direct Deposit source separately.

Can I make deposits to someone else's account?

Contact us to establish the Direct Deposit Service for accounts on which you don't have view/transact permission, such as a grandchild's savings account.

 

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