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How to begin an ACATS transfer to Betterment

Published | Updated

Here are the key steps to begin the paperless ACATS transfer process.

1. Make sure you have a connected account.

  • To instantly connect an account, log in on a web browser, scroll down to the Connected Accounts section, and click “Connect accounts.”

2. Review your account’s eligibility and initiate the transfer.

Select “Transfers” from your Menu bar and then navigate to the section titled “Transfer a connected account”.

  • Individual Taxable Account: If your individual taxable account is fully eligible for ACATS transfer, arrows and the words “Eligible for automated transfer” will appear underneath your connected account. Click those words to start the process.
    • Note: If you’d like to transfer only a portion of your taxable account and/or it is not showing as “Eligible for automated transfer”, ACATS may still be an option, but manual review will be required. Please email transfers@betterment.com to begin a conversation with a specialist.
  • Traditional, Roth, or SEP-IRA: If your IRA account is eligible for either a full or partial ACATS transfer to Betterment, arrows and the words “Eligible for automated transfer” will appear underneath your connected account. Click those words to start the process.
    • Note: If you’d like to move your full IRA account to Betterment but your account is only partially eligible for an ACATS transfer, you’ll still see “Eligible for automated transfer” messaging. However, when you get to the end of the flow you’ll either be presented with the option to electronically fax your transfer paperwork or, you’ll be prompted to manually complete and mail your IRA transfer paperwork to your current provider. Both options are perfectly suitable but will result in your IRA proceeds being mailed to Betterment in check form.
      • If you are not presented with the full ACATS transfer option and you’d prefer to move only the portion of your account that’s eligible for ACATS transfer, start over by selecting “Eligible for automated transfer” and then select the partial transfer option to see what’s eligible.
        • Note: Some customers, only eligible for a partial IRA ACATS transfer, prefer to liquidate all of their ineligible investments and/or the entire account so that their account can be electronically transferred to Betterment in full. If you would like to transfer your IRA as cash, you must first sell your assets at your current provider. Once the liquidation is complete, you can follow the steps above.
    • If your account is not showing as “Eligible for automated transfer” and/or you are not being presented with the ACATS option for a full transfer, a full electronic transfer may still be possible, but manual review will be required. Please email transfers@betterment.com to begin a conversation with a specialist.

Accounts Eligible For Manual, Paper ACATS Transfer

Since Betterment does not currently allow customers to initiate ACATS transfers for joint accounts, trust accounts, partial individual taxable accounts, or inherited IRAs, directly from the website, manual review will always be required.

It’s highly likely that our transfer specialist team will still be able to submit a full or partial ACATS transfer request, assuming you meet the general requirements for that team.

As always, our transfer team is available to assist as needed. Please do not hesitate to reach out to transfers@betterment.com for dedicated support.