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Electronic Funds Transfer: Revised CMS-588 Required on February 28, 2021
Use the revised CMS-588 Electronic Funds Transfer (EFT) application to request EFT of Medicare payments once it is posted on the CMS forms list in early February. Medicare Administrative Contractors will accept current and revised versions of the form through February 27, 2021. Starting February 28, 2021, you must use the revised form. There are minor updates, including:
- Moving the instructions to the first page
- Changing “Medicare fee-for-service contractor” to “Medicare Administrative Contractor (MAC)”
- Removing requests for irrelevant information: cancelation as a reason for submission, change of ownership or change of practice location, additional data fields for National Provider Identifiers (NPIs)
- Removing references to indirect payment procedures billers
- Adding two additional data fields for Medicare Identification Numbers (if issued) (one NPI can be linked to multiple Medicare Identification Numbers)
- Updating the link for MAC contacts
For more information, see the Medicare Provider-Supplier Enrollment web page.