Where is my Economic Impact Payment
On March 11, 2021, the President signed a third Coronavirus relief package, which included a new round of Economic Impact Payments (EIP). The process for these payments will be similar to previous EIP distribution. We have received notification from the Treasury Department that the first batch of payments to Renasant customers will be received on Saturday, March 13, 2021, and all payments are expected to be delivered during the next 28 days. For more information, and to check on the status of your payment with the IRS, go to https://www.irs.gov/coronavirus/get-my-payment.
In addition, we expect to experience extremely high call volume during this time. To avoid potential long wait times on the phone, we highly encourage you to check on your payment and view all of your bank account activity with NO WAIT TIME by using Renasant’s online and mobile banking at no charge, 24 hours a day, seven days a week.
The previous stimulus payments were sent in order covering five different groups, and we believe the same order will follow:
- Direct Deposit Recipients
- Social Security Beneficiaries
- Paper Check Recipients
- EIP Card Recipients
- More Complex Situations
How much will my EIP payment be this time? Payments are calculated from your 2019 or 2020 (if you have already filed for 2020) filed adjusted gross income with the maximum payment being $1,400 for individuals and $1,400 for each qualified dependent. To learn more about your potential payment, please visit https://www.irs.gov/coronavirus/get-my-payment.
Cashing EIP Checks: For Renasant customers, we will process EIP payments just like any other check. Renasant customers may deposit or cash their item with the proper endorsement and identification. We are not cashing EIP checks for non-Renasant customers.
NOTE: The IRS is screening for deceased taxpayers, however, deceased taxpayers who were alive on Jan 1, 2020 are eligible for the payment.