No. Direct deposits in CORE Payroll are only meant for employee paychecks and must go to the employee’s own bank account. IRA (Individual Retirement Account) contributions and similar payments to third‑party benefit providers cannot be set up as additional direct deposit destinations.
However, any IRA-related deductions and contributions can still be set up and processed as part of the payroll run. The actual transfer of funds to the IRA must be handled outside of CORE Payroll.