This is definitely becoming more common! I work in banking compliance and can confirm that financial institutions have ramped up verification requirements significantly in 2024-2025, especially for tax refunds due to the massive increase in refund fraud. The key red flags to watch for: legitimate requests will ALWAYS come through your secure app portal or official website, never through email links or text messages. If you're unsure, call Chime directly using the number on your debit card (not any number provided in the message). They should be able to confirm if the request is legitimate and guide you through their secure upload process. Better to spend 5 minutes verifying than risk your personal info!

This is definitely legitimate but I totally understand the panic! I went through this exact same thing with Chime about 8 months ago. The verification process is real and becoming standard across most banks now. Just make sure you're uploading through the official Chime app - never through email links or texts. When I did mine, I logged directly into the app, found the verification section, and uploaded my 1040 and driver's license there. Took about 36 hours to clear and then my refund was released. The waiting is nerve-wracking but it's just their fraud prevention kicking in. Stay safe and only use official channels!

SBTPG is just sitting on your money making interest. They got your refund from the IRS but haven't sent it to your bank yet. When mine said funded last month, it took 3 more days to hit my account. They never update the status to tell you when they actually send it out. Just keep checking your bank account, not the SBTPG site.

Based on my experience with SBTPG over the past three filing seasons, "funded" status means they've received your refund from the IRS but haven't necessarily sent it to your bank yet. Here's what typically happens: 1) IRS sends refund to SBTPG, 2) Status changes to "funded", 3) SBTPG deducts their fees (usually 24-48 hours), 4) They initiate ACH transfer to your bank, 5) Your bank processes the deposit (1-3 business days). The frustrating part is SBTPG doesn't provide a "sent to bank" status update - you'll just have to monitor your bank account. Most people see their money 2-4 days after the funded status appears. Since you're newly married, just know this waiting period is unfortunately normal for refund transfer products.

This is incredibly helpful information! I've been using TurboTax for years but never really understood how their early deposit feature worked behind the scenes. My DDD is showing as 3/3/25 on my transcript, so based on this timeline I should expect my deposit by 2/26/25. It's reassuring to see so many people confirming the accuracy of this 5-day calculation. I was debating whether the early deposit fee was worth it, but knowing I can count on this precise timing definitely helps with my monthly budgeting. Thanks for taking the time to call and get the official details from their customer service!

This is super helpful timing-wise! I just checked my transcript and have a DDD of 2/28/25, which means I should get my early deposit by 2/23/25 if I'm understanding the pattern correctly. I've been on the fence about paying for the early deposit feature but honestly, getting my refund 5 days early would help me avoid some late fees on my credit card. Has anyone noticed if the deposits typically come in the morning or afternoon? Trying to figure out if I should plan for it to be available first thing in the morning or later in the day.

I went through this exact scenario two weeks ago! SBTPG showed "FUNDED" on a Wednesday afternoon, and I didn't see the deposit until Friday morning. What helped me stay sane was calling my bank's customer service line - they were able to see the incoming ACH transfer in their system even though it wasn't showing in my account yet. The rep told me exactly when it would post (around 5 AM the next business day). Also learned that some banks have different cut-off times for processing ACH transfers, so if SBTPG sent it after 2 PM, it might not process until the next business day. Hang in there - the "FUNDED" status is really reliable, it's just the banking system that moves at snail speed! 🐌

This is such a relief to read! I'm literally in the exact same situation right now - SBTPG has shown "FUNDED" since yesterday morning and I've been checking my account obsessively. The waiting is torture when you're already stressed about money! 😰 What really helps is seeing everyone confirm this is totally normal. I had no idea about the whole ACH transfer process and how banks can hold things for additional processing time. Based on all these responses, it sounds like I should definitely see it by tomorrow or the day after. Going to try calling my bank in the morning to see if they can spot the incoming transfer like some of you mentioned. Thanks Jessica for asking this question - knowing I'm not the only one going through the SBTPG waiting game makes me feel so much better! The "FUNDED" status really seems to be trustworthy, it's just the banking system being slow as usual.

Just wanted to share my recent experience with this exact situation. We missed an RMD from my wife's inherited IRA in 2023 and discovered it after already filing our return. I was really stressed about the potential $1,800 penalty. We filed the standalone Form 5329 with a reasonable cause letter explaining that we were confused by the new SECURE Act rules and thought we had until age 73 (like regular IRAs) rather than continuing the original owner's RMD schedule. We also mentioned that we immediately took the missed distribution once we realized the error and set up automatic distributions going forward. The IRS completely waived the penalty! The key things that seemed to help were: 1) We took action immediately after discovering the mistake, 2) We showed we put measures in place to prevent it happening again, and 3) We were honest about the confusion without making excuses. The whole process took about 6 months from filing the 5329 to getting the penalty waiver confirmation. Don't lose hope - the IRS really can be reasonable about first-time mistakes if you handle it properly!

I went through this exact same situation last year with my father's inherited IRA. You absolutely can file Form 5329 separately - no need to amend your 1040. Just make sure to check the box indicating it's a standalone filing and include both your husband's name and SSN since it's his inherited IRA. The reasonable cause letter is crucial and "we forgot" can actually work if you frame it right. Focus on how this was your first experience with inherited IRA RMDs, mention any confusion about the rules (especially with all the SECURE Act changes), and emphasize that you're taking immediate corrective action. I included language about setting up automatic distributions going forward to show we were preventing future occurrences. Most importantly, make sure your husband takes that missed $2,500 distribution BEFORE you file the 5329. The IRS is much more likely to waive the penalty when they see you've actually corrected the underlying problem, not just reported it. We ended up getting our full penalty waived using this approach. Good luck!