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    Change Direct Deposit Primary Principal

    Article ID: 1000067

    Overview

    When you sign up for the QuickBooks Direct Deposit Service, you submit your company information including the:

    • Company Owner
      By default, the Company Owner is listed as the Primary Principal of your direct deposit account. For security purposes, all changes to your account (ex: bank account change, PIN change, etc.) that require a completed form or request letter must be signed by Primary Principal.
      For companies owned by more than one individual, the Primary Principal should be the authorized signer of the bank account for payroll.
    • Payroll Administrator
      Communications about your payroll transactions (ex: direct deposit confirmation, rejects, notice of change, etc.) are emailed to the Payroll Administrator.

    The following reasons may require for you to add or change the Primary Principal:
    • Listed principal is no longer with the company.
    • Board members or company officers have changed.
    • Authorized bank signors have changed.

    Details

    To request to change the primary principal:

    Accomplish the following requirements:

    1. Completed Primary Principal Change form.
    2. A request letter signed by all principals on the company letterhead explaining reason for principal addition or change.
    3. Photocopy of the new principal's government issued ID.
    If the request is to replace the current principal, both the current principal and the new principal must sign the request letter. In the event that the current principal is not available to sign the letter, please indicate the reason in your request letter.

    Send the requirements to Intuit either by fax (877.699.8996) or e-mail (SBPFCSOperations@intuit.com).

    To add a Secondary Principal, click to expand:

    Recommended for companies wherein payroll is managed by an accountant.
    1. Accomplish the following requirements:
      • Completed Primary Principal Change Form.
      • A request letter signed by the primary and secondary principal on the company letterhead stating that they will be adding another principal.
      • Photocopy of the primary and secondary principals' government issued ID.
      • Send the requirements to Intuit either by fax (877.699.8996) or email (SBPFCSOperations@intuit.com).

      Processing takes 3 to 5 business days from the date the complete requirements are received. Please wait for an email confirming the status of your request.

      Incomplete documents might delay Intuit's ability to process your request.

      You will be required to provide your Social Security number and date of birth on the Primary Principal change form.  Federal law and our banking partners require us to collect this information and we can't process your change without it.  Intuit protects this information according to our security policy. Intuit may share this information with trusted third parties for screening purposes, and when we do so, we encrypt and transmit it securely.

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