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Get started with e-filing Form 720 online to comply with the Foreign Remittance Tax requirements.
This US remittance tax must be paid by senders and reported quarterly by remittance transfer providers on IRS Form 720.
The obligation to remain compliant ensures your business complies with federal rules and avoids costly fines for Foreign Remittance Tax.
The majority of the providers submit Form 720 online to be precise in calculating the Federal Remittance Tax and to receive quicker processing at the IRS.
Efile720 provides e-filing of excise tax returns and the US Remittance Tax (IRS No. 155), approved by the IRS.
Prepare and file the Foreign Remittance Tax filing without any difficulties using Efile720 guidance.
Accurate processing of the 1% tax on cash, money orders, and checks through tax automation on Federal Remittance Taxes.
Get immediate IRS acknowledgement upon e-filing your US Remittance Tax filing.
Receive electronic acknowledgment within minutes of posting.
Skip postal risks and processing backlogs entirely.
Handles multiple transactions with precise 1% computation.
Removes manual computational errors on IRS No. 155 reporting.
Maintains a digital record of all filings.
Export-ready reports for IRS reviews.
File from phone or tablet anywhere, anytime.
Responsive design matches desktop experience.
| Transfer Amount | 1% Tax Rate | Federal Remittance Tax Owed |
|---|---|---|
| $500 cash remittance | x 0.01 | $5 |
| $1,000 money order | x 0.01 | $10 |
| $5,000 cashier's check | x 0.01 | $50 |
Note: Foreign Remittance Tax applies only to physical instruments. Auto-calculated by Efile720 for IRS No. 155 reporting.
Due on the 15th for the 1st-15th period and the 29th for the 16th-end of month period (or next business day if weekend/holiday).
First deposit due January 29, 2026.
Filed via Form 720 by the last day of the month following the quarter (April 30, July 31, October 31, January 31).
Register on an e-filing on an IRS-Authorized platform like Efile720 and provide business information, including EIN and contact information.
Report the total remittance transfers in terms of cash, money orders, or cashier's checks made in the period.
The amount of tax to be paid is the product of the total transfer amount and the 1% Federal Remittance Tax.
Add the 1% Federal Remittance Tax to the overall sum of the transfer.
Once it has been submitted, receive the IRS acknowledgement and retain the filing records for future reference.
Starting from the first half of 2026, the IRS offers a Federal Remittance Tax deposit penalty relief during the first three quarters of 2026.
Providers may qualify for this relief if they meet specific operational conditions while transitioning to the new 1% US Remittance Tax collection system.
File IRS Form 720 online with Efile720 to accurately report and submit the 1% Remittance Tax under IRS No. 155 and receive quick IRS confirmation.
File IRS Form 720 online →
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