Based on recent developments with Silicon Valley Bank, Sovos has transitioned its banking operations to Citibank NA. While these events did not impact our ability to be a reliable partner for customers, we took this step to further limit any potential risk.
Read on for more information and payment details.
Where should we send payments?
Effective immediately, please send all payments to the following Sovos account.
Citibank NA, New York Branch
388 Greenwich Street New York, NY 10013
Bank Account# 31367702
Swift Code: CITIUS33XXX
Branch Code: 930
This change applies to all existing and future balances due to Sovos Compliance, LLC.
We have been remitting tax through a Wells Fargo account with Sovos STS Managed Services. Do we also need to switch to the new account?
No. This change doesn't affect money movements involved in remitting taxes to the authorities through Sovos STS Managed Services.
What is the best address for physical checks?
Sovos Compliance LLC
PO Box 347977
Pittsburgh, PA 15251-4977
Does the Pay Now Link still work?
Yes, the “Pay Now Link” is still active, and no action is required on your end. You can continue to pay your invoices as you always have.
What happens if the current payment has already been sent?
Any payment sent and received by SVB will be processed and reconciled. You should begin using Citibank NA for your next payment.
Will a bank validation letter to change vendor information be provided?
Yes, if you need a bank validation form you can download it at this link.
Who from Sovos can I call to verify information?
You can reach out to your account manager, customer success manager or Sovos customer support to verify any information about Sovos’ new banking information. Sovos’ customer success team can be contacted through the customer portal.
I need a new vendor form to process my invoice, what are the required steps?
Please share the new vendor form with your account manager or customer success manager. They will process it and return it to you. If you aren’t sure who that is, you can reach out to our client support by accessing our portal.
My company requires information on previous and current banks to be on company letterhead, how can I get this?
You can download a letter on Sovos letterhead with this information.
As always, if you have any questions or concerns, please reach out to your customer success representative directly or through the Sovos customer portal.