Question What is a split refund? Answer A split refund lets you divide your refund, in any proportion you want, and direct deposit the funds into up to three different accounts with U.S. financial institutions. Use Part I of Form 8888, Allocation of Refund (Including Savings Bond Purchases) to request to have your refund split. The accounts must be in your name. You may also use part or all of your refund to buy up to $5,000 in U.S. Series I Savings Bonds for yourself or someone else by using Part II of Form 8888. You can also request a portion of your refund be sent to you in the form of a check by completing Part III of Form 8888. Additional Information Frequently Asked Questions about Splitting Federal Income Tax Refunds Category IRS procedures Sub-Category Refund inquiries