Can I roll over my Acorns Later account to an outside firm?

Article author
Alex
  • Updated

The IRS allows for one rollover per year by withdrawing your funds and placing them into a new IRA. If this is done within 60 days, the rollover method typically does not have tax penalties. If you have further questions, you can reach out to an independent tax specialist or read more on the IRS website here.

Please keep in mind that Acorns Securities, LLC can only transfer cash to process asset transfer requests for Acorns Later accounts, as stated in Section 2.2 of our "Program Agreement": https://www.acorns.com/program-agreement.

 

To start the process, please contact your other broker-dealer to initiate the paperwork. Acorns Securities requires the documentation to have a medallion signature guarantee. This can be sent via email to help@acornssecurities.com or faxed to (949) 209-5813.

 

Once your asset transfer request has been received and reviewed (typically within 5-7 business days after we've received the request), a member from our team will send you an email detailing the request. You must reply to this email confirming the asset transfer. We cannot move forward with your asset transfer request until you confirm it by replying to the email you receive. 

 

After you've confirmed asset transfer for your Later account, we can get started on transferring the funds to the receiving firm. 

 

This process involves liquidating your Later account and sending the funds through a wire to the receiving firm. If the funds are less than $100 or the receiving firm does not accept wires, we will send a check instead.

 

In the event dividends are paid out during the liquidation process, please note your request may require additional time to complete.

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