Outline
The Hawaii Direct Deposit form, officially known as Form ERS-210, serves as a crucial tool for retirees and beneficiaries of the Employees’ Retirement System (ERS) in the state. Established by legislation effective April 1, 2011, this form mandates that all individuals receiving ERS retirement benefits designate a financial institution for direct deposits. Completing the form accurately is essential; all sections must be filled out for it to be valid. Any changes, such as a new account number or a different financial institution, require the submission of a new form. The document consists of several key sections. Section A focuses on the authorization for deposit, allowing account holders to permit the ERS to deposit benefits directly into their chosen financial institution. Section B gathers account information, ensuring that the retiree's name matches the account. Section C outlines agreements among all account holders, emphasizing their collective responsibilities and consent regarding potential withdrawals and information disclosure. Finally, Section D captures the signatures of all account holders, confirming their understanding and agreement with the terms laid out in the form. For those representing a retiree or beneficiary, additional documentation may be necessary. To facilitate the process, a voided check or deposit slip must accompany the form when submitted to the ERS.
Sample - Hawaii Direct Deposit Form
Act 94/SLH 2010 (Rev. 9/2011)
INSTRUCTIONS FOR
DIRECT DEPOSIT AGREEMENT (FORM
In 2010, the Hawaii Legislature passed a law, effective April 1, 2011, requiring all retirees and beneficiaries of the Employees’ Retirement System of the State of Hawaii ("ERS") to designate a financial institution into which the ERS shall be authorized to deposit their ERS retirement benefits.
All portions of the Direct Deposit Agreement (Form
Section A – Deposit Authorization
By signing the Direct Deposit Agreement, you and all account holders authorize the ERS to automatically and directly deposit your ERS benefits to the Financial Institution named in Section B.
Section B – Account Information
The retiree or beneficiary’s name must appear on the account. You may ask the representative of the financial institution to help complete this section.
Section C – Agreements of All Account Holders
This section contains the agreements of everybody who is on the account, including the ERS retiree or beneficiary. The agreements in Section C apply to all Account Holders even if they are not the retiree or beneficiary receiving ERS benefits.
Section D – Signatures of All Account Holders
By signing the Direct Deposit Agreement, all of the Account Holders confirm that they understand and agree to the agreements in Section C.
The retiree or beneficiary signs as primary account holder. If the account is a joint account, please have all account holder(s) sign the form. Use an additional sheet if necessary. If you are representing the retiree or beneficiary, please ensure that you have any authorizing document(s) attached to the Direct Deposit Agreement (Form
Please attach a VOIDED check (Checking Account) or deposit slip (Savings Account) and return this form to the ERS.
If you have any questions, please contact the ERS at:
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(808) |
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Toll Free from neighbor islands: |
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Toll Free from mainland: |
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ERS Website: |
http://www4.hawaii.gov/ers |
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Mailing Address: |
Employees’ Retirement System |
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201 Merchant Street, Suite 1400 |
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Honolulu, HI |
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Act 94/SLH 2010 (Rev. 9/2011)
EMPLOYEES’ RETIREMENT SYSTEM OF THE STATE OF HAWAII
201 Merchant Street, Suite 1400
Honolulu, Hawaii
DIRECT DEPOSIT AGREEMENT
LAST Name:
FIRST Name:
Mailing
Address:
Check here if
new address
SSN:
Middle Initial:
Day Phone:
Effective April 1, 2011, Hawaii law requires all retirees and beneficiaries receiving benefits from the Employees' Retirement System of the State of Hawaii ("ERS") to designate a financial institution into which the ERS shall be authorized to deposit their ERS retirement benefits.
SECTION A – Deposit Authorization
By signing in Section D, I/We hereby authorize the Employees’ Retirement System of the State of Hawaii (“ERS”) to automatically and directly deposit my ERS benefits to my/our account at the financial institution named below (“Financial Institution”).
SECTION B
Name of Account Holder(s):
Name of Financial Institution:
Routing Number: |
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Account Number: |
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□ Checking |
□ Savings |
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Financial Institution Certification (Optional): |
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Name of Agent: ________________________________________ |
Phone: ___________________ |
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Signature: |
________________________________________ |
Date: _____________________ |
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SECTION C – Agreements of All Account Holders
By signing in Section D, the Account Holder(s):
•Authorize the ERS to make withdrawals from my/our account in the event that the ERS benefits have been deposited to the account in error, e.g., overpayments.
•Consent to the disclosure by the Financial Institution to the ERS of any information that the ERS requests to effectuate, administer, or enforce the transactions authorized in Sections A, C, and D.
•Agree not to hold the ERS responsible for any delay or loss of funds due to incorrect or incomplete information supplied by me/us or by Financial Institution or due to an error on the part of Financial Institution in depositing funds to the account.
SECTION D – Signatures of All Account Holders
Authorized Signature (Primary): |
Date: |
Authorized Signature:
Date:
Please attach a VOIDED check (Checking Account) or deposit slip (Savings Account) and return this form to the ERS.
Form Information
| Fact Name | Details |
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| Legislative Background | The Hawaii Legislature enacted Act 94/SLH 2010, which became effective on April 1, 2011, mandating direct deposit for all ERS retirees and beneficiaries. |
| Form Requirements | All sections of the Direct Deposit Agreement (Form ERS-210) must be completed for the form to be considered valid. |
| Change Notification | Any changes to account information, such as account number or financial institution, require submission of a new Form ERS-210. |
| Account Holder Agreements | All account holders must agree to the terms outlined in Section C, which includes authorizing the ERS to withdraw funds in case of erroneous deposits. |
| Submission Requirements | A voided check or deposit slip must be attached when submitting the form to the ERS, ensuring proper account verification. |
Detailed Guide for Filling Out Hawaii Direct Deposit
Completing the Hawaii Direct Deposit form is a straightforward process that ensures your retirement benefits are deposited directly into your chosen financial institution. After filling out the form, it will need to be submitted to the Employees’ Retirement System (ERS) along with a voided check or deposit slip for verification.
- Begin by filling out your last name, first name, and middle initial in the designated fields.
- Enter your mailing address. If this is a new address, check the appropriate box.
- Provide your Social Security Number (SSN) and day phone number.
- In Section A, sign to authorize the ERS to deposit your benefits into your account.
- Move to Section B. Fill in the name of account holder(s) and name of financial institution.
- Obtain your financial institution’s routing number and account number. Indicate whether it is a checking or savings account.
- If applicable, fill in the financial institution certification section, including the agent's name, phone number, signature, and date.
- In Section C, review the agreements. By signing in Section D, you and all account holders agree to these terms.
- All account holders must sign and date the form in Section D. The primary account holder should sign first.
- Attach a voided check (for checking accounts) or a deposit slip (for savings accounts) to the form.
- Submit the completed form and attachments to the ERS at the address provided.
Obtain Answers on Hawaii Direct Deposit
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What is the purpose of the Hawaii Direct Deposit form (ERS-210)?
The Hawaii Direct Deposit form, known as ERS-210, is designed for retirees and beneficiaries of the Employees’ Retirement System of the State of Hawaii. Its primary purpose is to authorize the ERS to deposit retirement benefits directly into a designated financial institution. This process ensures timely and secure access to funds without the need for physical checks.
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What information is required to complete the form?
To ensure the form is valid, all sections must be completed. Key information includes:
- Your name and mailing address.
- Your Social Security Number (SSN).
- The name of the financial institution where you wish to deposit your benefits.
- Your account number and routing number.
- Signatures from all account holders, if applicable.
Additionally, a voided check or deposit slip must be attached to verify account details.
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What should I do if my account information changes?
If there are any changes to your account, such as a new account number or a change in the financial institution, a new ERS-210 form must be submitted. It is important to complete the new form accurately to avoid any disruptions in your benefit deposits. Always ensure that the most recently dated form is the one that will be processed.
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How can I contact the ERS if I have further questions?
If you have questions or need assistance regarding the Direct Deposit Agreement, you can contact the ERS through the following methods:
- Oahu: (808) 586-1735
- Toll Free from neighbor islands: 1-(800) 468-4644 Ext. 61735
- Toll Free from the mainland: 1-(888) 659-0708
- Visit the ERS website: http://www4.hawaii.gov/ers
You may also send mail to the following address:
Employees’ Retirement System
201 Merchant Street, Suite 1400
Honolulu, HI 96813-2980
Common mistakes
Filling out the Hawaii Direct Deposit form can be straightforward, but mistakes can lead to delays or complications. One common error is failing to include all necessary signatures. All account holders must sign the form, including the retiree or beneficiary. If anyone's signature is missing, the form will not be processed.
Another mistake often made is providing incorrect account information. This includes the routing number and account number. Double-checking these details is crucial, as even a single digit can lead to funds being deposited into the wrong account. It is advisable to verify the information with the financial institution before submission.
Some individuals overlook the requirement to attach a voided check or deposit slip. This documentation is essential for verifying the account details. Without it, the form may be rejected, causing delays in receiving benefits. Ensure that the correct type of document is attached based on whether the account is checking or savings.
Additionally, people sometimes fail to complete all sections of the form. Every part must be filled out for the form to be valid. If there are any alterations, a new form should be completed. Submitting an incomplete or altered form can lead to complications in processing the direct deposit.
Lastly, many forget to keep a copy of the submitted form for their records. Retaining a copy can be helpful for future reference, especially if there are any issues or questions regarding the direct deposit. Keeping track of documentation is an important part of managing financial affairs.
Documents used along the form
The Hawaii Direct Deposit form is essential for retirees and beneficiaries of the Employees’ Retirement System (ERS) to receive their benefits directly into their bank accounts. Along with this form, several other documents may be necessary to ensure a smooth and efficient process. Below is a list of these documents, along with brief descriptions of each.
- Voided Check: A voided check is a check that has the word "VOID" written across it. It is used to provide the bank's routing number and the account number for direct deposits.
- Deposit Slip: This is a slip provided by the bank that contains the account holder's information. It is often required for savings accounts to facilitate direct deposits.
- Authorization Document: If someone is representing the retiree or beneficiary, this document proves their authority to act on behalf of the account holder. It is necessary to attach this document to the Direct Deposit Agreement.
- Identification Proof: A copy of a government-issued ID may be required to verify the identity of the retiree or beneficiary when submitting the Direct Deposit Agreement.
- Change of Address Form: If the retiree has moved, this form updates the ERS with the new address to ensure that all correspondence and benefits are sent to the correct location.
- Tax Forms: Depending on the retiree’s financial situation, specific tax forms may be needed to ensure proper withholding of taxes from the retirement benefits.
- Beneficiary Designation Form: This form allows retirees to designate who will receive their benefits in the event of their passing. It is important for ensuring that benefits are distributed according to the retiree's wishes.
- Retirement Application: This document is often submitted when an individual first applies for retirement benefits. It provides essential information about the retiree's employment history and eligibility.
These documents work together with the Hawaii Direct Deposit form to ensure that retirees and beneficiaries can access their retirement benefits smoothly and efficiently. Proper preparation and submission of these forms can help avoid delays in receiving funds.
Similar forms
The Hawaii Direct Deposit form (ERS-210) shares similarities with several other financial documents that facilitate the management and transfer of funds. Here’s a look at seven such documents and how they are comparable:
- Direct Deposit Authorization Form: Like the ERS-210, this form allows individuals to authorize their employer or benefits provider to deposit funds directly into their bank account, ensuring timely access to funds without the need for physical checks.
- Bank Account Application: This document requires individuals to provide personal information and account preferences, similar to how the ERS-210 collects account holder details for direct deposits.
- Withdrawal Authorization Form: Just as the ERS-210 allows for direct deposits, this form authorizes a bank or financial institution to withdraw funds from an account, typically for recurring payments or loans.
- Change of Address Form: This form is used to update personal information with financial institutions. The ERS-210 also requires current contact details to ensure proper communication and processing of deposits.
- Beneficiary Designation Form: Similar to the agreements in Section C of the ERS-210, this document allows account holders to designate beneficiaries for their accounts, ensuring that funds are allocated according to their wishes.
- Voided Check Submission: The ERS-210 requires a voided check or deposit slip to verify account information, just as many direct deposit forms do to confirm the account details for accurate fund transfers.
- Power of Attorney Document: This legal document allows one person to act on behalf of another in financial matters. The ERS-210 mentions the need for authorizing documents if someone is representing the retiree or beneficiary, highlighting the importance of proper authorization in financial transactions.
Dos and Don'ts
When filling out the Hawaii Direct Deposit form, it is important to follow certain guidelines to ensure that your application is processed smoothly. Here are six things you should and shouldn't do:
- Do ensure all sections of the form are completed accurately.
- Do sign the form as the primary account holder.
- Do attach a voided check or deposit slip for verification.
- Do contact your financial institution for assistance if needed.
- Don't alter the form in any way, as this will require you to submit a new one.
- Don't forget to update the form if there are changes to your account information.
Misconceptions
Understanding the Hawaii Direct Deposit form is essential for retirees and beneficiaries. However, several misconceptions can lead to confusion. Here’s a list of common misunderstandings:
- All retirees can use any bank for direct deposit. Many believe they can choose any financial institution, but the account must be in the retiree's name.
- Only the retiree needs to sign the form. This is incorrect. All account holders must sign the form, especially for joint accounts.
- Changes can be made without submitting a new form. If there are any changes to the account, a new form must be completed.
- Direct deposit is optional. Since April 1, 2011, it is mandatory for all retirees and beneficiaries receiving benefits from the ERS.
- Providing a voided check is unnecessary. In fact, attaching a voided check or deposit slip is required to validate the account information.
- Errors in deposits are the ERS's responsibility. Retirees must understand that they cannot hold the ERS responsible for errors caused by incorrect information.
- Once the form is submitted, it never needs to be updated. This is false. The form must be updated whenever there are changes to account details.
- You can submit the form without any supporting documents. If you are representing someone else, you must attach the necessary authorizing documents.
Being aware of these misconceptions can help ensure a smoother process when setting up direct deposits with the Hawaii ERS.
Key takeaways
When filling out the Hawaii Direct Deposit form (Form ERS-210), it is essential to keep several key points in mind to ensure a smooth process.
- Complete All Sections: Every section of the Direct Deposit Agreement must be filled out completely. Incomplete forms will not be accepted.
- Account Holder Information: The retiree or beneficiary's name must match the name on the bank account. Assistance from the financial institution can be sought if needed.
- Signatures Required: All account holders must sign the form. If the account is joint, every holder must provide their signature to validate the agreement.
- Attach Necessary Documents: A VOIDED check or a deposit slip must accompany the form. This ensures that the correct account details are provided to the ERS.
By adhering to these guidelines, retirees and beneficiaries can facilitate the direct deposit of their retirement benefits without complications.