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In this YouTube tutorial, Tom Ryan discusses how to complete the CMS Form 588 Electronic Funds Transfer (EFT) Agreement. The objective is to assist viewers in correctly filling out the application to prevent payment and enrollment delays. The form is necessary for situations such as new enrollment, updating banking details, ownership changes, or adding practice locations. It's important to note that if a provider reassigns all benefits, the form isn't required, nor is it needed during revalidation unless there's an EFT change. All EFT agreements have a 15-day grace period for bank information verification. Viewers are directed to find the form on the CMS website, with the tutorial beginning with instructions on page one.