The CMS-588 authorizes Medicare to deposit your Medicare payments directly into your bank account via Electronic Funds Transfer (EFT). This is a required step for all enrolled Medicare providers — without it, you cannot receive Medicare payments.

This is one of the simplest CMS forms, but it’s commonly delayed or forgotten in the enrollment process, which delays payment.

Who files the CMS-588

All enrolled Medicare providers and suppliers must file a CMS-588. This includes:

Individual providers enrolled via CMS-855I
Organizations enrolled via CMS-855B
DMEPOS suppliers enrolled via CMS-855S
Institutional providers enrolled via CMS-855A

Every Medicare payment recipient needs a CMS-588 on file with their MAC.

Step-by-step: Filing the CMS-588

The CMS-588 is a paper form. There is no PECOS pathway for EFT authorization.

Step 1: Get the current CMS-588 Download from cms.gov. It’s a short form.

Step 2: Gather your banking information

Bank name
Bank routing number (ABA number — 9 digits)
Account number
Account type (checking or savings)
Account holder name (must match your enrollment legal name or organization name)

Step 3: Attach a voided check or bank letter You must include either a voided check from the account or a letter from your bank on bank letterhead confirming the account details. The bank letter is required for accounts that don’t use checks (savings accounts, some business accounts).

Step 4: Complete the form

Provider/supplier legal name
NPI
PTAN (if you have it — file CMS-588 after enrollment approval when possible)
Authorized signature
Date

Step 5: Submit to your MAC Mail or fax to your MAC’s enrollment processing address. Some MACs accept fax for CMS-588 submissions.

Timing: when to file

Option 1: File with your enrollment application You can submit the CMS-588 simultaneously with your CMS-855I/B/S/A application. Processing begins once your enrollment is approved.

Option 2: File after enrollment approval Some providers wait until they have their PTAN and enrollment approval letter before filing the CMS-588. This works, but it delays EFT setup by an additional 30–60 days after approval.

Recommendation: File simultaneously with your enrollment application and include your PTAN once you receive it as a follow-up if needed. Most MACs can match a CMS-588 to a pending enrollment without the PTAN.

Updating banking information

File a new CMS-588 whenever your banking information changes:

New bank account
Bank merger or routing number change
Account closure and transfer
Change in legal business name affecting the account

⚠️ File the update before closing the old account. If you close an account while CMS is still sending EFT payments there, Medicare claims payments bounce and can take 60–90 days to reroute. Don’t close your old account until the new CMS-588 is confirmed.

⚠️ Risk flags

⚠️ Account name mismatch. The name on the bank account must match your enrollment legal name. If you enrolled as “Jane Smith PT, LLC” but your bank account says “Jane Smith,” the MAC may reject the CMS-588 or payments may bounce. Align account ownership with your enrollment name.

⚠️ Shared accounts with non-Medicare providers. Medicare payments must go to an account held by the enrolled entity. Shared accounts with unenrolled individuals or entities create compliance issues.

⚠️ No EFT = no payment. Without an active CMS-588 on file, Medicare will not release payments. Claims process and generate remittances but payment holds until EFT is established.

Processing timeline

After your MAC receives and processes the CMS-588, EFT activation typically takes 5–15 business days. You’ll receive confirmation from your MAC and often a test deposit (small amount, sometimes $0.01) before regular payments begin.

Questions about EFT setup or updating your banking info? Ask Mae →