Colorado – Filing Tips For ACH-Credit Payments

SALT Report 2249 – The Colorado Department of Revenue issued a warning for ACH Credit filers that their EFT payments will be rejected if the Department is unable to process the payment. Because the Department cannot determine how payments are to be applied if the information is incorrect they have provided a list of the most common errors and an example of the format that should be followed.

Common Errors

  • Use of the wrong EFT account number
  • Use of the wrong tax type code
  • Incorrect period dates
  • Missing terminator symbol after the dollar amount
  • Use of decimals

The following is an example of the correct format for an ACH-Credit transaction tax payment:

  • Taxpayer EFT Number: 3710123456
  • Tax Type: Wage Withholding (code 011)
  • For The Period Ending: December 31, 2012
  • Amount Owed: $101,999.97

The transaction information shown above should be formatted as follows:

TXP*3710123456*011*121231*T*10199997\

If the format above is not followed, the EFT payment will be rejected and late payment penalties may be imposed.

For Further Information

Colorado Department of Revenue – EFT Filing Tips For ACH-Credit Filers

Electronic Funds Transfer page