I’ve not used it in previous years, but have been reading up on it, thinking I might try it this year. Here’s a few helpful tips I found online:
The Process
Visit www.fafsa.gov and click “Login”, enter the student’s personal information, then click on “Make FAFSA Corrections”. Once in the FAFSA, navigate to the “Financial Information” tab, where the option to use the tool will display for eligible students and parents. Make sure that you have corrected your filing status from “Will File” to “Already Completed” to use the IRS Data Retrieval Tool.
You must ensure that the name and address of the FIRST PERSON LISTED on a joint tax return is the same on the FAFSA as it shows on the tax return. When inputting your information on the IRS' website, you must enter your name and address EXACTLY as it appears on your tax return, including all punctuations, abbreviations, and spacing.
When you have finished completing the IRS Data Retrieval Tool process, please be sure to resign the FAFSA with your four-digit FAFSA PIN number. The IRS Data Retrieval process will remain incomplete without this important final step being completed. In addition, you must NOT change any information that was transferred from the IRS otherwise the FAFSA will be considered invalid and consequently you will then be required to submit your 2014 Tax Return Transcripts from the IRS to our office.
Eligibility
You and your parents are eligible to use the IRS Data Retrieval Tool on the www.fafsa.gov website if you:
Filed your 2014 federal tax return with the IRS. You can only use the tool if you do not owe taxes, or have submitted payment for your taxes to the IRS.
Have a valid social security number.
Have a Federal Student Aid PIN (if you do not have a PIN, you will be given the option to apply for one)
You and your parents are not eligible to use the IRS Data Retrieval Tool if:
Your marital status changed after December 31, 2014.
You filed married filing separately.
You filed Head of Household, but listed married as marital status on FAFSA application.
You filed an amended return.
You filed a foreign tax return.
You filed a tax return using a Tax ID Number (TIN).
The home address on the FAFSA does not match the address on the tax return.
The primary tax filer must access the IRS Data Retrieval Tool through the www.fafsa.gov website by logging in with their PIN number and completing the IRS Data Retrieval process. If the primary tax filer does not have a FAFSA PIN please go to www.pin.ed.gov to retrieve a PIN.
Hmmm - seems I already found a problem. I listed DH first on 1040 and on FAFSA, but he does not have a FAFSA PIN - I do. So, I guess he needs to create a PIN. I just filed 1040 electronically today - and paid small balance owed. I’m glad I just read about the PIN - that had not occurred to me.
We did that last year., but the school still asked for the tax forms for verification. The FAFSA.GOV said 3 weeks after efiling to do DRT. I think mine was available in around 2 weeks.
I could have sworn I signed with my pin the last two years even though my husband is listed first on the tax return. I will be doing our FAFSA is a week or so, so I will see what happens this year with the DRT. My husband does have a pin so it won’t be a problem, but I just don’t remember it being that way.
Hmmm…maybe this is why the data retrieval tool can’t find our return. I am Parent 1 and have the PIN, but H is first on our tax return. Guess I’ll just do it without the tool and put H first next year and get him a PIN.
I still haven’t been able to use the IRS Data Retrieval Tool even though we are eligible under their requirements. I am Parent 2 signing with a PIN on the FAFSA website although my husband is the primary name entered in our Joint Return and on the FAFSA… We have an email showing IRS accepted our return on 2/18/15. We had submitted the Joint Return electronically and paid in full the amount of taxes owed at same time. According to IRS timeline, the DRT would be available in 2-3 weeks from the acceptance date. It will be 2 weeks exactly this coming Wednesday, 3/4/15. Hopefully, the DRT will work for us then. I did call the FAFSA helpline to verify whether the primary name on the tax return and on the FAFSA needed to be the one to enter their PIN in order for the DRT to work. The answer is either parent can use their PIN to link to DRT. It does not require the primary parent filer to do it. Just thought I’d clarify the earlier posts on this.
The best thing to do when using the DRT is to have your actual return in hand when you get ready to use it. You must put the information in exactly like it is on the return (i have had students have to do it over all over again because of abbreviations and dashes on the form). I recommend using the same pin that you used setting up the account, because the FAFSA only requires one parent PIN (parent 1 PIN).
After exactly 2 weeks and 1 day after the IRS accepted my tax return, I (as Parent2) was finally able to do use the IRS Data Retrieval Tool to correct my FAFSA. So I guess it is true that either Parent 1 or 2 (f joint tax return was filed) can use the DRT.
I see that as a different question. I think we have established that either parent can use the DRT and sign with their PIN. But I do believe you have a problem if Bob is listed first on the 1040, but Jane is listed first on the FAFSA - the info will not match up.
Thanks Rockville that’s what I was wondering. We will go in and change the FAFSA ourselves. Meanwhile the school my daughter wants to attend says not to do anything unless they tell us to. That does not make sense to me because our FAFSA is not 100% accurate right now- it’s very close to accurate but not perfect.
The only non-joint questions on fafsa are Parent 1 and 2 income from work.
When you use the DRT it puts the wages line from the tax form(which is a joint number) all for Parent 1. But there is a message that says “Your filing status indicates you may need to split this amount and enter it in two places on the FAFSA.”. So you manually allocate the income from work questions.