Maine Updates Business Notification/EFT Forms and EFT Instructions

October 17, 2018 Tom Hospod

Maine Revenue Services has updated some forms and instructions relevant to withholding.

Form 941BN-ME, which is completed to report a change in your withholding account, contact information or to cancel your withholding account, is now exclusively used for income tax withholding accounts; previously, it was also used for unemployment contributions accounts. There is no update to the information requested by MRS for reporting changes.

The Electronic Funds Transfer Application, for taxpayers who intend to remit payments via ACH Teledebit or ACH Credit, has been revised. Aside from the removal of references to unemployment compensation tax, there are no substantive revisions.

The EFT Application Instructions have also been revised to remove references to unemployment compensation taxes.

About the Author

Tom Hospod

Tom Hospod is a member of the Tax Research Team for the Direct Tax division at Sovos Compliance, where his main areas of focus are Tax Withholding and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. He also has experience in securities law—focusing on broker-dealer disputes and representing clients in FINRA arbitration. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.

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