US Remittance Tax Due Date(2026)
U.S. Remittance Tax Recap
The U.S. Remittance Tax is a federal excise tax applied to certain money transfers to foreign countries. This tax is imposed on remittance providers who facilitate these transactions, and the sender of the transfer is responsible for the payment.
The current tax rate for these transactions is 1% of the total transfer amount. For example, if a sender is transferring $10,000 abroad, the remittance tax owed would be $100. This tax supports various federal programs, and the IRS requires the reporting of these transfers on Form 720.
When Does Remittance Tax Start?
The remittance tax was introduced in discussions held in 2025 and will begin applying to money transfers made on or after January 1, 2026. This tax is applicable to remittance providers and senders who are involved in transferring money internationally.
The IRS expects businesses and individuals making these types of payments to comply with the new rules by reporting the transfer as required. Remittance providers will be required to collect the tax from the sender and submit it quarterly via Form 720.
Read our blog on how to avoid remittance tax to know about the exemptions available.
Due Date for Remittance Tax
1) Form 720 Reporting Due Dates:
Remittance providers must collect the tax from the sender and report it quarterly using Form 720, which is the IRS excise tax form. The Remittance Tax (IRS Number 155) will be included under Part 1 of Form 720, under the "Other excise tax" division. The IRS establishes specific due dates for Form 720, which are as follows:
Note: If the due date falls on a federal holiday, the deadline is extended to the next business day.
2) Semi-Monthly Deposit Requirement:
For certain taxpayers, the IRS requires semi-monthly deposits of the excise tax if the amount owed is greater than $2,500. This applies to businesses or individuals who exceed this threshold in their remittance tax liabilities.
Payments must be made on the 15th and the last day of each month. The IRS has specific rules for deposit schedules that must be adhered to in order to avoid penalties for late payments.
How to File U.S. Remittance Tax?
There are two ways to file the U.S. Remittance Tax:
Manual Filing:
In order to manually file the remittance tax, the latest version of IRS Form 720 must be downloaded from the IRS website. The IRS Form 720 must then be filled out by filling in the relevant details required for the remittance tax, which has the IRS number 155. In addition, a check must be prepared as payment. The Form must then be sent to the IRS Form 720 mailing address along with the check.
Online Filing:
In order to have a quicker and more efficient experience, the IRS has approved various service providers, namely Simple720, which can assist you with your filing. The filing process takes a few minutes, ensuring accuracy and compliance with all IRS regulations.
The IRS requires Form 720 to be filed online for federal excise taxes, including remittance taxes - file yours quickly and securely with Simple720. We are the #1 Form 720 e-file provider trusted nationwide.
Why Simple720 for Your Remittance Tax Filings?
Specialization in Form 720 Filings: The team at Simple720 is highly skilled and knowledgeable in dealing with Form 720 filings.
Top-Rated and Most Trusted Form 720 E-File Provider: Simple720 has earned a reputation as a safe and leading provider for electronically filing Form 720 nationwide, hence the assurance of reliability and security.
Without Software Download: You will be able to file your taxes with no need for any software download thus making the whole process much more convenient and effective.
IRS-Authorized Portal: Simple720 is an IRS-Authorized e-file provider, making sure that all the files submitted meet the IRS standards and regulations.
AICPA SOC Certified Portal: This platform is AICPA SOC certified, which means that the environment for filing is not only secure but also reliable
Read our blog on IRS Penalty Relief for Remittance Providers for a comprehensive understanding.
Conclusion
Filing the U.S. Remittance Tax is an important task for both remittance providers and individuals. By keeping yourself updated about the filing dates and utilizing reliable services such as Simple720, you can remain compliant.
Simple720 is the most convenient and cost-effective way to file your Form 720. You don't have to worry about the hassle of filing it yourself.
File your Remittance Tax now with Simple 720!
