FEDERAL

DEPOSITS

Quick Reference Guide for

TAX

Understanding

TheABCs

ofFTDs
WHAT ARE FTDs & WHY

ARE THEY IMPORTANT?

FTDs (Federal Tax Deposits) for Forms 941 and 944 are 

made up of taxes withheld from your employees' salaries 

(Trust Fund), and the employer’s share of FICA (Social 

Security and Medicare) taxes. 

Agricultural employers file annual Form 943, with rules 

similar to Form 941. See Publication 51, Agricultural 

Employer's Tax Guide. 

FTDs for Form 940 are paid by the employer to provide for 

unemployment compensation to workers who have lost 

their jobs.

These taxes need to be paid as they become due in order 

to avoid a penalty.
A

FOR FORMS 941 AND 944 DEPOSITS

› Make the deposit any time by the due date.

or

› For your convenience make a deposit the same day you 

make payroll.

If you are a new employer and have never filed Form 941 or 

944, you are a Monthly Schedule Depositor for the first calendar year of your business. Monthly Schedule Depositors should 

deposit taxes from all of their paydays in a month by the 15th 

of the next month, even if they pay wages every week. However, any employer who has accumulated $100,000 in payroll 

taxes during a deposit period must make a deposit by the next 

business day. Business days include every calendar day other 

than Saturdays, Sundays, or legal holidays. The term "legal 

holiday" means any District of Columbia legal holiday. Previously, legal holidays included statewide legal holidays. 

› If your Form 944 total taxes for the year are less than 

$2,500, they can be paid with the return or deposited by 

the return due date. See the Form 944 instructions for deposit 

requirements if your total taxes for the year are expected to 

reach $2,500 or more.

› If your total taxes on Form 941 for the current quarter or the 

preceding quarter are less than $2,500, and you did not 

incur a $100,000 next-day deposit obligation in the current 

quarter, and you filed your tax return on time, you may 

pay the taxes with the timely filed return or deposit by the 

return due date. Otherwise, you’ll need to determine which 

deposit schedule to follow.

WHEN 

TO MAKE 

DEPOSITS
› If you have filed only Form 941, you can determine your 

deposit schedule using the “Lookback Period” table below.

› If you filed Form 944 for 2017 or 2018, or if you are filing Form 

944 for 2019, your lookback period is the calendar year 2017. 

1. Add the total taxes (line 12 of Forms 941) reported during the 

Lookback Period.

2. Determine your deposit schedule.

Monthly Schedule Depositors:

› Deposit each month’s taxes by the 15th day of the month after 

wages are paid (for example, taxes from paydays during July 

are deposited by August 15).

Semiweekly Schedule Depositors:

› For wages paid on Saturday, Sunday, Monday, or Tuesday, 

deposit by the following Friday.

› For wages paid Wednesday, Thursday, or Friday, deposit by 

the following Wednesday.

Remember!

› Deposit rules are based on when wages are paid, not earned. 

For example, Monthly Schedule Depositors with wages earned 

in June but paid in July, deposit August 15.

› If the due date for a deposit falls on a non-business day, the 

deposit is considered timely if it is made by the close of the next 

business day.

Form 941 Lookback Period for Calendar Year 2019

2017 2018

July 1 Oct 1 Jan 1 Apr 1

to to to to

Sep 30 Dec 31 Mar 31 Jun 30

——— ——— ——— ———

3rd Qtr 4th Qtr 1st Qtr 2nd Qtr

To determine your 

deposit schedule for 

Calendar Year 2019, 

you look back to this 

four quarter period.

If the total taxes you 

reported in the Lookback Then you are a:

Period were:

$50,000 or less Monthly Schedule Depositor

More than $50,000 Semiweekly Schedule Depositor
WHEN TO MAKE FORM 940 DEPOSITS?

› If the tax liability is $500 or less and it is the end of the first, 

second, or third quarter, the tax is carried over to the next 

quarter.

› If the fourth quarter tax liability is $500 or less, the tax is due 

by the return due date.

› If the tax liability is over $500 and it is the end of any quarter, 

then the tax must be deposited by the last day of the following month.

1. Federal Tax Deposits (FTDs) are made through the Electronic 

Federal Tax Payment System (EFTPS). EFTPS is a free service 

provided by the Department of Treasury. It is a convenient 

and efficient method of paying all your federal taxes. You 

may make your tax deposit payments through the Internet at 

www.eftps.gov or call EFTPS Voice Response System at 1-800-

555-3453. For added convenience EFTPS is available 24 hours 

a day, seven days a week.

New employers receiving a new Employer Identification 

Number (EIN) that have a federal tax obligation are 

automatically enrolled in EFTPS to make their Federal Tax 

Deposits.

When new employers receive their EIN, they will also receive 

a separate mailing containing an EFTPS Personal Identification 

Number (PIN) and instructions for activating their enrollment.

2. As of January 1, 2011, all deposits are made electronically.

B HOW 

TO MAKE 

DEPOSITS
1. Federal Tax Deposits can be made electronically through 

EFTPS by phone 1-800-555-3453 or visit www.eftps.gov. You 

should initiate your payment no later than 8:00 p.m. Eastern 

Time the day before your deposit is due.

C WHERE 

TO MAKE 

DEPOSITS

FOR MORE INFORMATION 

ON FTDs, REFER TO:

EFTPS Customer Service 1-800-555-4477 

EFTPS at www.eftps.gov

www.irs.gov

Publication 15, Circular E, 

Employer’s Tax Guide

Publication 966, Electronic Choices for Paying All 

Your Federal Taxes

Your tax professional
WHO MUST MAKE 

DEPOSITS?

Employers filing Form 941, Employer’s QUARTERLY Federal Tax Return, with $2,500 or more tax in the current 

quarter, and $2,500 or more tax reported in the prior 

quarter, or less than $2,500 in the prior quarter and a tax 

liability that reached $100,000 or more within a deposit 

period of the current quarter. If your Form 941 is filed late, 

you must make timely deposits.

Employers filing Form 944, Employer's ANNUAL Federal 

Tax Return, with $2,500 or more tax due per year.

Employers filing Form 940, Employer’s Annual Federal 

Unemployment (FUTA) Tax Return, with over $500 tax 

due per quarter.

If you are required to make deposits, do not send tax 

payments with your tax return or directly to the IRS.

WHAT TAXES

MUST BE DEPOSITED?

› Income tax withheld from employees

› FICA (Social Security and Medicare) tax withheld from 

employees, plus the employer’s portion.

› FUTA (Federal Unemployment Tax)

NOW, LETS LOOK AT THE 

EASY ABCs OF FTDs
ELECTRONIC FEDERAL 

TAX PAYMENT SYSTEM 

(EFTPS)

Q What is EFTPS?

A EFTPS is a tax payment system provided free by the 

U.S. Department of the Treasury. EFTPS makes paying 

federal taxes easy and convenient. By using EFTPS, 

taxpayers make their federal tax payments electronically from the convenience of office or home via the 

Internet or phone.

Q Who can use EFTPS?

A Anyone who pays federal taxes may voluntarily 

enroll in and use EFTPS. Taxpayers who are required 

to deposit taxes must make all their federal tax deposits electronically.

Q How do you enroll?

A New employers are automatically enrolled in EFTPS 

Express Enrollment. If you would you like to enroll 

call EFTPS Customer Service at 1-800-555-4477 or visit 

www.eftps.gov.

Q What is Express Enrollment?

A Express Enrollment allows new business taxpayers 

with a federal tax obligation to begin making their 

FTDs more quickly and accurately with EFTPS. When 

they receive an Employer Identification Number (EIN) 

from the IRS, they will be enrolled in EFTPS so they can 

make all their payments electronically, online or by 

phone.

Q Can businesses still use FTD Coupons?

A Starting January 1, 2011, taxpayers cannot use FTD 

coupons.

Publication 3151 (Rev. 11-2018 ) Catalog Number 26404W 

Department of Treasury Internal Revenue Service www.irs.gov