How to Report Remittance Tax on Form 720
IRS No. 155 sits on page 2 of Form 720, in Part I, under "Other Excise Taxes." The line is labeled "Remittance transfers," with the rate printed as 1% of transfer. A money transmitter reports the remittance tax by entering the quarter's taxable amount and the tax on that line, then showing how the same tax falls across the semimonthly periods on Schedule A.
The numbers have to agree in three places: the IRS No. 155 line, Schedule A, and your deposits. Build them from one set of records. For background on the tax, see our remittance transfer tax page.
The steps to report IRS No. 155 for a quarter
- Pull the taxable transfers by semimonthly period. A semimonthly period is the 1st to the 15th, or the 16th to the last day of the month. Keep only transfers the sender paid for with cash, a money order, a cashier's check, or a similar physical instrument.
- Figure 1% for each period. This is your liability for that period.
- Enter the total on Part I. On the IRS No. 155 line, enter the amount and the tax. Add it into Part I, line 1, with any other Part I taxes.
- Complete Schedule A. Regular method taxes go on line 1, in boxes A to F by period. Remittance tax isn't one of the alternative method taxes (IRS Nos. 22, 26, 27, and 28), so it uses the regular method.
- Carry it to Part III. Line 3 is the total tax, line 4 is any Schedule C claims, and line 5 is the deposits made for the quarter. Check the box on line 5 only if you used the safe harbor rule.
- Pay any balance due shown on line 10. You don't have to pay if line 10 is under $1.00.
A full quarter with deposit dates
The provider and amounts are made up. This is the fourth quarter of 2026, with $1,500,000 in taxable transfers.
| Period | Taxable transfers | Tax at 1% | Schedule A box | Deposit due |
|---|---|---|---|---|
| Oct. 1 to 15 | $210,000 | $2,100 | A | Oct. 29, 2026 |
| Oct. 16 to 31 | $260,000 | $2,600 | B | Nov. 13, 2026 |
| Nov. 1 to 15 | $190,000 | $1,900 | C | Nov. 27, 2026 |
| Nov. 16 to 30 | $240,000 | $2,400 | D | Dec. 14, 2026 |
| Dec. 1 to 15 | $280,000 | $2,800 | E | Dec. 29, 2026 |
| Dec. 16 to 31 | $320,000 | $3,200 | F | Jan. 14, 2027 |
| Quarter total | $1,500,000 | $15,000 |
Two of these dates moved. The deposit is due by the 14th day after the period. November 14 is a Saturday and November 29 is a Sunday, so those deposits move back to the preceding business day. They never move forward. The return itself is due Monday, February 1, 2027, because January 31 is a Sunday.
If every deposit was exact, Part III for this provider shows $15,000 on line 3 and $15,000 on line 5, with nothing on line 10, assuming no other taxes or claims.
Deposit notes that catch money transmitters
- The $2,500 test is for the quarter. No deposit is required if net Part I liability doesn't exceed $2,500 for the quarter. A small agent with $180,000 in taxable transfers owes $1,800 and can pay with the return if it has no other Part I tax. Schedule A is still required.
- Deposit at least 95%. Each semimonthly deposit must be at least 95% of the net tax liability for that period, unless the safe harbor rule applies.
- Deposits are electronic. Don't mail deposits to the IRS. For an EFTPS deposit to be on time, start the transaction at least 1 day before the due date, before 8:00 p.m. Eastern time. Publication 510 also says IRS Direct Pay can be used. A same-day wire is the back-up if you miss the EFTPS cutoff, and your bank may charge for it.
- September is different. Regular method filers make an extra deposit in September. In 2026, the September 16 to 26 period was due September 29. The liability for the end of September goes in box F. The instructions carry the chart for that year, so check it each year.
- Penalty relief has an end point. The limited deposit penalty relief covers the first three quarters of 2026. The fourth quarter in the table isn't named in it.
Mismatches to look for before you submit
| Check | Why it matters |
|---|---|
| IRS No. 155 tax equals the sum of your remittance amounts on Schedule A | If remittance is your only Part I tax, boxes A to F should total the Part I figure. |
| Part III, line 5 equals deposits you actually made | A wrong figure changes the balance due or overpayment on the return. |
| The amount on the line includes only taxable transfers | The 1% depends on how the sender paid, so including card or bank flows without checking can overstate the tax. |
| Prior-quarter corrections aren't on this return | The instructions send those to Form 720-X. |
| An EIN is on the return | The instructions say you need an EIN to file Form 720. |
If a transaction type is hard to classify, resolve it before filing. Our remittance tax overview explains the basics, and the Form 720 instructions list REG 114499-25 as the IRS guidance on this tax.
Doing this in EasyFile720
EasyFile720 offers guided Form 720 filing online, and our page for remittance providers is written for businesses like yours. Enter your business details, then your IRS No. 155 figures and your semimonthly amounts. The 1% rate is built in, and the math is calculated for you. Validations catch common mistakes before you submit, you sign electronically, and you get an electronic acknowledgment from the IRS once the return is accepted.
Your deposits remain a separate step during the quarter, so have your records ready when you enter line 5. Creating an account is free, and you pay when you file: $39.95 per filing, or a Full Year Plan at $139.99 per business for four filing credits. A money transmitter files every quarter, so compare both on the pricing page. You can also check a quarter's total first with the remittance tax calculator.
FAQ
Do I need Schedule A if my remittance tax is under $2,500?▼
Yes. The instructions say to complete Schedule A for each semimonthly period even if your net liability is under $2,500, and Form 720 requires it for any Part I liability.
I also owe another Part I tax. Do I make two deposits?▼
No, if both are under the same method. The instructions say to combine all taxes under a method and make one deposit for the semimonthly period. Schedule A also combines them in each box.
I had no remittance transfers this quarter. What do I enter?▼
If you normally report the tax, enter a zero on the line. If you have no tax to report at all, enter None on Part III, line 3, and sign and date the return.
How do I fix a remittance amount on a return I already filed?▼
Don't enter the adjustment on your next Form 720. The instructions direct adjustments to prior quarters to Form 720-X.
File Form 720 online
Create a free account with no credit card and build your return. You pay $39.95 only when you file. EasyFile720 is an IRS-authorized e-file provider, and you get an acknowledgment when the IRS accepts your return.
Sources: Form 720 (Rev. June 2026); Instructions for Form 720 (Rev. June 2026); IRS Publication 510 (Rev. December 2025). General information, not tax advice. Confirm how the rules apply to you with a qualified advisor or the IRS.
