IRS Data Retrieval Option for 2012-13 FAFSA

Beginning February 1, 2012, you will be able to select the IRS Data Retrieval option on your FAFSA. We strongly recommend that parents and students select this option during the initial filing or when subsequent corrections are made to a 2012-13 FAFSA application. This option will streamline and expedite the processing of your financial aid application. If you choose not to use the IRS Data Retrieval, you must request an official tax transcript (Form 4506-EZ). We can no longer accept copies of federal income taxes for verification purposes.

Why use the IRS Data Retrieval:

It’s easy. You don’t manually fill in information from your paper tax return when you complete the FAFSA.

It’s fast. With a couple of clicks and verification of identity your tax information will automatically be transferred to your FAFSA.

It’s accurate. By using the IRS Data Retrieval Tool, you are ensuring that the Financial Aid office is receiving your most accurate tax information.

It streamlines the verification process. Your tax information will be correct. Students and parents that link their FAFSA to the IRS Data Retrieval will have automatically fulfilled most verification criteria for financial aid.

In order to successfully use the IRS Data Retrieval option, you must have:

• A federal tax return filed with the IRS
• A valid Social Security number
• A Federal Aid Personal Identification Number (PIN)
• An unchanged marital status since December 31, 2011

Federal PIN:

For parents or students without a Federal Aid PIN, you will be prompted to apply for one during the FAFSA application process: www.pin.ed.gov. The PIN will also help you (student or parent) electronically sign the FAFSA as well as other paperwork associated with financial aid. Once you have obtained your PIN, do not lose it or share it with others.

According to the IRS:

• Electronically filed tax return information will be available online from the IRS site a minimum of 2 weeks after the return has been filed.
• Data from paper tax returns will be available in 6-8 weeks after the return has been filed.

Unfortunately, the Data Retrieval Process cannot be used in the following circumstances and the applicant will have to submit Tax Return Transcript, if selected for verification:

• Submitted a paper FAFSA
• Filed as Married Filing Separately federal tax return
• Filed an Amended federal tax return
• Filed a Foreign federal tax return
• Marital status changed after December 31
• Applicant has made changes to IRS Data Retrieval information on FAFSA

Request a Federal Tax Return Transcript

Information for student and/or parents who have not yet filed their federal income taxes and are completing the FAFSA:

Select "estimated income" information on the initial FAFSA. Enter your estimated tax information of the FAFSA.

If you listed your tax filing status as “Will File” because you had not yet filed a tax return, please remember you need to return to fafsa.ed.gov and change tax filing status to “Already Completed,” and select the IRS Data Retrieval option once you have actually submitted a federal tax return to the IRS. Then you resubmit your FAFSA.