IRS Data Retrieval

Once you have filed an IRS federal income tax return, you must update the information reported on the FAFSA to reflect your actual tax information.

If you have completed an IRS federal income tax return, you may be eligible to use the IRS Data Retrieval Tool, which is the best and easiest way to provide accurate tax information. With just a few simple steps, you can view the information from the IRS income tax return and transfer that information directly into your FAFSA.

Steps to complete IRS Data Retrieval

1.In order to use the IRS Data Retrieval Tool, your IRS income tax return must be processed by the IRS. In most cases, for electronic tax return filers, 2015 IRS income tax return information is available for the IRS DRT or the IRS Tax Return Transcript within 2–3 weeks after the 2015 electronic IRS income tax return has been accepted by the IRS.  Generally, for filers of 2015 paper IRS income tax returns, the 2015 IRS income tax return information is available for the IRS DRT or the IRS Tax Return Transcript within 6–8 weeks after the 2015 paper IRS income tax return has been received by the IRS.

2. Log into your FAFSA at www.fafsa.gov and select the 2016-2017 FAFSA* to update the FAFSA with your 2015 IRS income tax information.

*To update the 2015-2016 FAFSA, you will use your 2014 IRS income tax information.

3. Choose the “Make FAFSA Corrections” link.

4. Navigate to the Student and/or ParentFinancial Information” section. Dependent students: please update both student and parent financial information if needed.

5. If you have filed an IRS Tax Return, select “Already Completed.

6. Answer the displayed questions. If you are eligible to use the IRS Data Retrieval Tool, you will be presented with the option to automatically transfer your 2015 tax data from the IRS to your FAFSA. Please follow the instructions presented on the FAFSA.

7. After updating the FAFSA, continue to the “Sign and Submit” section.  Sign and submit the FAFSA correction.  UofL will receive the results in four to five business days if our college is listed to receive your FAFSA information.

If you do not use the IRS Data Retrieval Tool to transfer your IRS tax data to your FAFSA, you must manually update your FAFSA with your actual tax return information.

If you have been selected for verification, and you “will file” or “have filed” an IRS income tax return, you must update the FAFSA as “Already Filed” as soon as your tax return is filed with the IRS.  Upon receipt of this information, our office will provide you with a verification form to complete.   Verification must be completed before you can be awarded federal financial aid.

If you have any questions, you can contact the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). Their customer service team is a great resource and can answer questions you may have about the IRS Data Retrieval Tool.