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Moving or changing your Tax ID?

Steady cash flow requires advance planning

If you are planning to move your payment address or change your Tax ID, be prepared to plan well in advance. Minimum advance notice of 3 months for a move and 6 months for a Tax ID change will allow a smooth transition with minimal cash flow disruption.

For a move, Federally funded programs such as Medicare must be notified. Your payments can be delayed by to two to three months or more since Medicare is allowed 45 days to review your request to change your address. By law, checks issued by the Federal government cannot be forwarded so you will want to make sure that the appropriate Medicare enrollment forms are completed before you move. While the Post Office may forward the first piece of mail, Medicare will receive a notice that you have a forwarding order and they will then discontinue payments. Electronic Funds Transfer does not eliminate this issue. Medicare sends other correspondence by mail. If Medicare is notified of a forwarding order, they will discontinue EFT until the proper enrollment forms are filed and accepted.

Tax ID changes affect every payer you bill. Count on the payers taking up to 6 months to process your TIN change.