If you used an Economic Impact Payment (EIP) Card to receive your last stimulus payment, there’s a good chance your next payment will be sent to the same card. However, it’s important to check with the IRS to confirm. You can do this by visiting the IRS website or calling their customer service number. If you have a new bank account or address, be sure to update your information with the IRS so that your payment can be sent to the correct place.
## EIP Card Eligibility Criteria
**Eligibility Criteria for Receiving Stimulus Payments on EIP Card:**
- Unbanked Individuals: Individuals who do not have a valid bank account and could not provide their banking information to the IRS.
- Homeless Individuals: Individuals who do not have a permanent address and may not have access to a bank account.
- Individuals with Exemptions: Individuals claimed by someone else as a dependent on their tax return.
- Individuals with Low Income: Individuals who earn less than $12,200 (single filers) or $24,400 (married filing jointly) and did not file a tax return.
**Benefits of Receiving Stimulus Payments on EIP Card:**
- Convenience: EIP cards can be used like debit cards for purchases, withdrawals, or online transactions.
- Accessibility: EIP cards are accessible to individuals without bank accounts or permanent addresses.
- Security: EIP cards are FDIC-insured up to $250,000, providing protection against loss or theft.
**Additional Information:**
* EIP cards are issued by Green Dot Bank.
* You can check the status of your EIP card or direct deposit at https://www.irs.gov/coronavirus/get-my-payment.
* If you have not received your EIP card or direct deposit, you can file a payment trace at https://www.irs.gov/coronavirus/get-my-payment-troubleshooting-faqs#paymenttrace.
IRS Payment Distribution Options
The IRS offers several payment distribution options for tax refunds and stimulus payments. These options include Direct Deposit, EIP Card, and check by mail.
- Direct Deposit: Funds are electronically deposited directly into a designated bank account.
- EIP Card: A prepaid debit card issued by MetaBank, N.A., that is loaded with stimulus payment funds.
- Check by mail: A physical check is mailed to the taxpayer’s address on file with the IRS.
The IRS generally sends subsequent payments to the same distribution method as the previous payment. However, there are some exceptions to this rule.
| Scenario | Subsequent Payment Distribution Method |
|---|---|
| Recipient previously received a stimulus payment via EIP Card | Typically sent to the same EIP Card |
| EIP Card expires or is lost/stolen | Recipient may receive a check by mail or a new EIP Card |
| Recipient closes the bank account associated with Direct Deposit | IRS may send a check by mail or issue a new EIP Card |
Note: The IRS does not automatically reissue EIP Cards. If an EIP Card expires or is lost/stolen, the recipient should contact the IRS to request a new one.
Impact on EIP Card Recipients
Individuals who received their last stimulus payment on an EIP Card will likely receive their next payment in the same manner. Here’s what you need to know:
- Activation Required: If you haven’t activated your EIP Card, do so immediately to receive your payment.
- Monitoring Required: Keep track of any updates or notifications from the card issuer or the IRS regarding the status of your payment.
- Potential Delays: In some cases, EIP Card payments may experience delays compared to direct deposits or mailed checks.
- Card Usability: You can use your EIP Card for purchases, withdrawals, and bill payments like any other debit card.
Alternative Payment Methods
If you received your last stimulus payment on your EIP card, it’s likely that your next payment will also be sent to the same card. You can check the status of your payment on the IRS Get My Payment tool.
If you prefer to receive your payment by other means, you can update your payment information on the IRS website. Here are the alternative payment methods available:
- Direct deposit to your bank account
- Paper check mailed to your address on file
To update your payment information, follow these steps:
1. Go to the IRS Get My Payment tool.
2. Enter your Social Security number, date of birth, and zip code.
3. Click the “Update My Payment Info” button.
4. Follow the instructions on the screen to update your payment information.
| Payment Method | Timeline |
|---|---|
| Direct Deposit | Within 3 weeks of payment being processed |
| Paper Check | Within 6-8 weeks of payment being processed |
| EIP Card | Within 3 weeks of payment being processed |