With any IRA, there are often tax implications for early withdrawals or transfers (generally a 10% penalty and possibly income taxes and/or other penalties). You can learn more about the specifics from the IRS website here.
To withdraw your Acorns Later funds, please follow these steps:
- After logging in to your account, tap or click on "Later starts today"
- Tap or click on "Withdrawal"
- Follow the prompts
- Enter the amount you’d like to withdraw
- Confirm your withdrawal
Sell orders (i.e. withdrawal requests) placed before 11am PST on a market day typically will be processed the same day. If your request was made after 11am PST on a market day, Acorns will sell shares the following market day. It can take 3-6 business days for withdrawals to be fully reflected in your primary checking account. The SEC regulations dictate a mandatory 2 day settlement period, after which time the withdrawal has to process.