The Department of Finance would like to notify the general public that the anticipated issuance of the third stimulus checks this week has been delayed due to an unusually lengthy approval process of the implementation plan by the US Department of the Treasury.
Once the plan is approved, the US Treasury will transfer approximately $85 million to the Commonwealth within three business days. The Division of Revenue and Taxation (DRT) is in communication with the Internal Revenue Service (IRS) under the US Treasury on a daily basis tracking movement of the approval process and expected transfer of funds to the CNMI.
“As much as we have prepared our systems here to push out the stimulus checks, it is unfortunate that we have no say when there is a delay in the disbursement of funds from the US Treasury in Washington, DC,” said Governor Ralph DLG. Torres.
“Our team at Finance and Rev & Tax are constantly following up with the IRS every day, and we want to reassure the community that we are ready to push the button once the funds are officially here on island. We want to distribute the stimulus checks immediately, so we continue to ask for our community’s patience as we continue to communicate with the US Treasury on the disbursement of funding,” Governor Torres added.
DRT encourages taxpayers to continue registering for direct deposit on the CNMI Stimulus Portal to ensure payments are received as quickly as possible once the funds are in. Approximately 30% of filers have registered for direct deposit to date.
DRT will process the first batch of stimulus payments based on 2019 income tax returns. Additional batches will then be issued based on 2020 income tax returns that are submitted and processed by August 15, 2021, 90 days after the filing deadline of May 17, 2021. If you do not receive your maximum third round payment in 2021, you may be eligible to claim the 2021 Recovery Rebate Credit when you file your 2021 income tax return in 2022.
For more general information on eligibility and calculation of your third stimulus payment, visit https://www.irs.gov/coronavirus/economic-impact-payments.
Stimulus Portal Information
All taxpayers who have yet to register and submit bank information are encouraged to use the Stimulus Portal on the DOF website at www.dof.gov.mp and select “Register for ACH.”
Taxpayers who have successfully received a direct deposit in the second stimulus payment do not have to re-register. DRT will use all valid bank information received from the second stimulus payment for the third round of payments, including off-island banks.
All invalid bank information (i.e., closed accounts, incorrect account/routing number) have been removed from our database. Taxpayers who provided invalid bank information are encouraged to re-register again on the portal.
The CNMI Stimulus Portal is now limited to local banks only for new registrations.
Please continue to follow updates from the Department of Finance and the Office of the Governor for the latest information.