IRS Data Retrieval Tool (DRT) Checklist
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1 IRS Data Retrieval Tool IRS Data Retrieval Tool Academic Year This tool must be used when completing your FAFSA (Free Application for Federal Student Aid) or an IRS 2014 Tax Return Transcript must be submitted, especially if your FAFSA was randomly selected for a review process known as, verification. If you choose to do neither, you will not be eligible to receive any federal grant, student loans, or Work-Study funds, nor will you will be considered for any financial aid offered by the University Office of Student Financial Aid. Important Changes to the FAFSA Process The United States Department of Education has recently decided to streamline the financial aid application process and to make it more accurate. ALL students and parents (dependent students only) who indicate they have filed a federal tax return will be directed to use the IRS Data Retrieval Tool (DRT). Applicants and parents who indicate they will file a federal tax return will receive communication(s) directing them to use the IRS Data Retrieval Tool (DRT) to update their income information once they have filed their 2014 federal income tax return. Applicants selected for the verification process will be required to use the IRS Data Retrieval Tool (or) they may choose to request a tax transcript from the IRS which can later be submitted to the Financial Aid Office. What is the IRS Data Retrieval Tool (DRT)? The IRS Data Retrieval Tool (IRS DRT) allows you and if applicable, your parent(s) to upload data from your federal tax returns into your FAFSA. It may be used during the initial filing or when subsequent corrections are made to your FAFSA. This option will streamline and expedite the processing of your financial aid not to mention simplification of completing the FAFSA. The IRS DRT will be available beginning February 1, Your taxes must be submitted to the IRS at least two weeks prior to using the tool. In What Cases Will I NOT Be Able to Use the DRT? You will not be able to use the IRS Data Retrieval Tool (DRT) if any of the following are true: Marital status changed after December 1, 2014 Filed taxes as Married Filing Separately Filed an amended tax return Filed an foreign tax return Filed a tax return using a Tax ID Number (TIN) The home address on the FAFSA does not match the address the tax return Applicants who are, have not, and are not required to file a 2014 Federal Tax Return NOTE: For applicants that cannot use the online IRS Data Retrieval Tool, a paper tax transcript must be requested from the IRS. Please refer to our in-house instructions on how to request the tax return transcript for future reference. Step-by-Step Instructions How to Use the IRS Data Retrieval Tool (DRT)? The step-by-step instructions assume that you have previously submitted a FAFSA (Free Application for Federal Student Aid) and is meant to help you update your FAFSA using the online IRS Data Retrieval Tool. 1) Go to and click Login.
2 2) Enter your student information and click NEXT. 3) Click on Make FAFSA Corrections. 4) Enter your Federal Student Aid 4-Digit PIN. If you don t know or can t remember your PIN. If you don t know or can t remember your PIN, click the I Forgot/Don t Know My PIN link or visit and request a duplicate PIN. Create and enter a password and click NEXT.
3 5) Click on the Financial Information tab. Select Already Completed for the tax return filing status and answer the eligibility questions. 6) If you are eligible to use the IRS Data Retrieval Tool you will be prompted to enter your PIN number and click LINK TO IRS. If you are not eligible to use the IRS Data Retrieval Tool, feel free to refer to Request a Tax Transcript Instructions, under the Financial Aid forms section 7) Click OK to leave the FAFSA website and enter the IRS Data Retrieval Tool Website.
4 8) Click OK to accept the IRS Data Retrieval Tool terms of use. 9) Enter the requested and click Submit. Remember to enter your address exactly as it appeared when you filed your taxes. If your parents (dependent students) or you and/or your spouse (independent student) filed as Married Filing Jointly you must input the primary person s information on this screen. The primary person is the one whose information (name and Social Security Number) is on the first line of your U.S. Tax Return (1040). 10) Review the information that the IRS has retrieved from your tax returns. Check the box to Transfer My Tax Information into the FAFSA and click Transfer Now. Your IRS data will be transferred to your FAFSA and you will be redirected to the FAFSA website.
5 11) Do NOT update answers that say Transferred from the IRS or your school may require you to supply additional documentation. Answer the question(s) asking, How much did you earn from working (wages, salaries, tips, etc.) in 2014? and click Next. NOTE: If you are using the IRS Data Retrieval Tool for both the student and parent you will have to complete this process twice, once under the Student Financial Information section and once under the Parent Financial Information section before submitting the FAFSA. 12) Continue to the Sign and Submit tab. Enter your (and your parent s, if dependent) PIN number and click Sign. Then agree to the Terms of Agreement and click Submit My FAFSA. NOTE: Remember to print or save the confirmation page for your records. It should take no more than a week for our office to receive your updated FAFSA transaction. The Parent s Tax Return Transcript (dependent student) and Student s Tax Return Transcript should say Satisfied on your Self Service Carolina account, if our office received the IRS Data Retrieval Tool information.
6 Miscellaneous Information about the IRS DRT and the Verification Process I Was Selected for Verification. Can I Submit Photocopies of Tax Returns to Satisfy the Verification Requirements? NO. Beginning with the award year, institutions can NO longer accept copies of federal income tax returns to satisfy federal financial aid verification requirements. In general and in accordance with federal financial aid regulations, all applicants who already filed his/her FAFSA but elect to not use the IRS Data Retrieval Process will be required to support his/her reported FAFSA data with information obtained directly from the Internal Revenue Service (IRS). This would include but not limited to a 2014 IRS Tax Return Transcript for student and their parents (if a dependent student), as well as other documentation required to verify information on the FAFSA. Applicants Who Choose Not to Use the IRS Data Retrieval Tool OR Change the IRS Income Information Applicants who choose not to use the FAFSA IRS Data Retrieval Tool (or) applicants who use the tool but subsequently change the income information will be informed that they will be required to verify the information used on the FAFSA. Verification includes, but is not limited to, submitting a copy of your/your parent(s) or spouse 2014 IRS Tax Return Transcript, 2014 W-2s (Wage and Earnings Statement), 1099 Forms, and may require verification of family members, those enrolled in college, and child support received. NOTE: If your FAFSA was randomly selected for the verification process and you choose NOT to complete the FAFSA using the IRS DRT or submit an IRS 2014 Tax Transcript, then per federal regulations you are not eligible to receive any federal grants, loans, or Work-Study, nor will be considered for any financial aid offered by the s Office of Financial Aid and Veterans Affairs. No further consideration of your application will be made.
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