In an attempt to address the current serious issue of informal e-waste recycling, this paper proposes a deposit system under EPR (Extended Producer Responsibility) to increase consumer incentives involving recycling and to insure the construction of a formal recycling channel. After analyzing third-party e-waste recycling deposit system's monetary, information and product flow, we propose that an advanced Internet information system should be built to let all parties act jointly to improve recycling process. We also provide some suggestions for administrating the special fund for recycling e-waste in China.