For most Americans, no action is required. The IRS will use data from the most current tax returns or Social Security data to provide a rebate via direct deposit (if such information is available) or through a paper check in the mail to the last address on file. If you filed 2019 or 2018 taxes, the funds will go to the same account as your refund. If you received a paper check it will be mailed to the same address on file with the IRS.
If this information needs to be changed, the IRS is working on a web-based portal to update your information. More information will be available soon.
For more information about the CARES Act and who will receive stimulus checks read the FSB Blog.