Updating your banking information requires you to resubmit your entity registration, which includes going through IRS and CAGE validations. Please plan accordingly.

 

To update banking information on an entity registration in SAM.gov:

1. Sign in to SAM.gov and begin the process to update your entity (KB0016307).
2. Proceed through the validation process. (KB0058402).
3. Once you have completed validation, continue through the registration, reviewing and updating information as needed, until you reach the Financial Information page. Your current routing number and account number are hidden for security reasons.
4. On the Financial Information page, make sure your Account Type matches the account type you will be using, then select the blue Update Banking Information button above the ABA Routing Number field.
   
   
    
5. The ABA Routing Number and Account Number fields will be enabled so you can enter text. If your bank has changed, you must first enter your existing ABA routing number then your new ABA routing number. Then enter your current account number and your new account number.
   
   • You must enter the banking information from your current registration for the system to accept the new banking information.
   • If you are unable to validate your current banking information successfully, see article "I cannot verify my previously entered banking information, what should I do? (KB0019608)
      
      
      
6. Change the Remittance Address if needed (i.e., where to send a check if electronic funds transfer fails. This can be a physical address or a P.O lockbox). If you have changed banks, be sure to update this information.
7. Select “Save and Continue.” SAM.gov will then display the name of the bank.
8. If you need to add another bank account for the same Unique Entity ID at the same physical location, you can add an EFT indicator (KB0017164).
9. On the "Review Core Data" page, confirm the name of the bank and the remittance address.
10. Continue through the rest of your registration, making any necessary changes, and select "Save and Continue" on each page.
11. After you review the entire registration, select "Submit" on the “Entity Review” page.
12. When you select "Submit," you will receive a confirmation that you have successfully submitted your registration. You will also receive a confirmation email. Your registration update will go through IRS verification and CAGE verification (if you have a CAGE code) before it becomes active with the new banking information.

Once you have submitted the update, you cannot make further changes until the submitted registration has completed its reviews.

What's next?

• How long does it take for my registration to become active? (KB0016357)
• What is IRS TIN processing? (KB0016540)
• How long does CAGE code processing take? (KB0016994).