Colorado – EFT Signup and Payment Reminders

SALT Report 2902 – The Colorado Department of Revenue issued a notice for businesses regarding the option of using electronic funds transfer to make corporate and personal income, withholding, sales and use taxes, or International Fuel Tax Agreement payments online. The notice provides the following tips for using the EFT system:

  • When registering through Revenue Online, taxpayers must wait two business days prior to making their first payment through EFT.
  • EFT payments must be completed by 4 p.m. Mountain Time to be considered paid that day.
  • Sales tax, retailer’s use tax and International Fuel Tax Agreement filings require that the taxpayer also submit a form completed in Revenue Online or a paper form.  If either the payment or the form/data is late, the entire filing is considered late.
  • Wage withholding payments through EFT do not require that the taxpayer file a paper or tax form or the form in Revenue Online.  However, the EFT payment must be made by the specified due date and must be associated with the correct tax account.
  • There are no fees to use the EFT payment system; however there may be transaction fees associated with credit card or e-check payments.

If you’d like to sign up for electronic funds transfer, you can do so in Revenue Online.

For Further Information

Colorado Department of Revenue – Electronic Funds Transfer Sign Up and Payment Tips for Businesses