Intuit (INTU) secures $5.8B credit line for early tax refund program

Rhea-AI Filing Summary

Intuit Inc. entered into a new unsecured short-term revolving credit facility providing up to $5.8 billion, scheduled to mature on March 31, 2026. The facility may be used only to support Intuit’s early tax refund offering, which advances funds to eligible customers shortly before IRS refund settlement.

Borrowings can be made, repaid, and reborrowed during the term, with interest based on SOFR plus 0.875% per year or a base rate with no additional margin. Intuit will also pay a 0.07% annual commitment fee on unused amounts. The agreement includes a maximum consolidated leverage ratio and other customary covenants, and no amounts have been drawn so far.

Insights

Credit & Capital Structure Analyst

Intuit adds $5.8B seasonal liquidity line for tax refund advances.

Intuit secured an unsecured revolving credit facility of up to $5.8 billion maturing on March 31, 2026. It is dedicated to its early tax refund offering, effectively backing short-term customer advances tied to IRS-confirmed refunds.

Pricing is typical for a strong-credit borrower, with SOFR-based loans carrying a 0.875% margin and a 0.07% fee on undrawn commitments. Covenants include a maximum consolidated leverage ratio and standard representations, providing lenders oversight without unusual restrictions.

At the time described, no funds had been drawn, so the facility represents additional contingent liquidity rather than immediate borrowing. How much of the $5.8 billion Intuit actually uses will reflect customer demand for early tax refunds during the 2026 tax season.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2026

INTUIT INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

000-21180

77-0034661

(State or other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

2700 Coast Avenue, Mountain View, CA 94043

(Address of principal executive offices, including zip code)

(650) 944-6000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Exchange on Which Registered

Common Stock, $0.01 par value

INTU

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Revolving Credit Facility

On January 30, 2026, Intuit Inc., a Delaware corporation (the “Company”), entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto (collectively, the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”), which provides for a $5.8 billion unsecured short-term revolving credit facility that is scheduled to mature on March 31, 2026.

Amounts borrowed under the Credit Agreement may only be used for the Company’s early tax refund offering. This offering enables the Company to provide eligible customers access to their federal tax refunds up to five days before IRS settlement. The Company provides these funds to customers only after the IRS confirms and initiates the approved refund payment from the U.S. Department of Treasury to a Company-controlled account. The credit facility provided under the Credit Agreement is available in addition to the Company’s commercial paper program and the Company’s existing credit agreement dated as of January 9, 2026.

Subject to the terms and conditions of the Credit Agreement, the Company may borrow, repay and reborrow revolving loans at any time during the term of the facility. Voluntary prepayments of loans and voluntary reductions of unused commitments under the Credit Agreement are permissible without penalty (other than customary interest breakage charges).

Borrowings under the Credit Agreement will bear interest at a rate based on the secured overnight financing (“SOFR”) or a base rate, at the Company’s election, plus an applicable margin of 0.875% per annum in the case of SOFR borrowing and 0.000% per annum in the case of base rate borrowings. In addition, the Credit Agreement requires the Company to pay a commitment fee at a rate of 0.07% per annum on the daily unused amount of the commitments under the facility.

The Credit Agreement contains customary representations and warranties, affirmative and negative covenants, including a requirement for the Company to maintain a maximum consolidated leverage ratio, and events of default.

At this time, the Company has not borrowed any funds under the Credit Agreement.

The Agent, the Lenders, and their respective affiliates may have various relationships with the Company and its affiliates in the ordinary course of business involving the provision of financial services, including cash management, commercial banking, investment banking or other services.

The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement attached hereto as Exhibit 10.01 and incorporated herein by reference.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

10.01						Revolving Credit Agreement, dated as of January 30, 2026, by and among Intuit Inc., the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent.
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:

January 30, 2026

INTUIT INC.

By:

/s/ Sandeep S. Aujla

Sandeep S. Aujla

Executive Vice President and Chief Financial Officer

FAQ

What new credit facility did Intuit (INTU) obtain in this 8-K?

Intuit entered a new unsecured revolving credit facility providing up to $5.8 billion in short-term funding. The agreement is scheduled to mature on March 31, 2026 and allows Intuit to borrow, repay, and reborrow during the term subject to its covenants.

How will Intuit (INTU) use the $5.8 billion revolving credit facility?

The facility may be used only for Intuit’s early tax refund offering. This program lets eligible customers access federal tax refunds up to five days before IRS settlement, after the IRS confirms and initiates payment to a Company-controlled account.

What are the interest and fee terms on Intuit’s new credit agreement?

Borrowings bear interest at SOFR plus 0.875% per year or at a base rate with a 0.000% margin. Intuit must also pay a commitment fee of 0.07% annually on the daily unused portion of the $5.8 billion commitments.

Has Intuit borrowed any money under the new $5.8 billion facility?

As of the disclosure, Intuit had not borrowed any funds under the new revolving credit facility. The agreement currently serves as additional available liquidity rather than a source of existing debt, supporting the seasonal early tax refund program if needed.

What covenants are included in Intuit’s 2026 revolving credit agreement?

The credit agreement includes customary representations, affirmative and negative covenants, and events of default. Among these, Intuit must maintain a maximum consolidated leverage ratio, aligning lender protections with typical large corporate revolving facilities.

Is Intuit’s $5.8 billion facility secured or unsecured and when does it expire?

The revolving credit facility is unsecured, meaning it is not backed by specific collateral. It is structured as a short-term line of credit that is scheduled to mature on March 31, 2026, covering the 2026 tax refund season.