New CMS 588 Electronic Funds Transfer (EFT) Authorization Agreement
There is a new version of the CMS 588 Electronic Funds Transfer (EFT) Authorization Agreement (11/23).
Effective 4/30/24, the Medicare Administrative Contractors (MAC) may only accept the CMS 588 EFT (11/23) version. If a provider submits the outdated form, it will be returned.
Please note: If you are submitting an electronic application submission via PECOS (Provider Enrollment, Chain, and Ownership System ) with the banking information, it should be added or updated under the topic view “Electronic Funds Transfer.” You will need to upload a voided check or bank confirmation letter under “Required and/or Supporting Documentation” with the required signature and date.
This replaces completing the paper CMS 588 EFT (11/23) form.
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