How to withdraw, transfer out, or close your Betterment account

Table of Contents

How it works

How do I transfer out funds to another provider?

Here, we'll walk you through how to transfer your funds out to another provider. Transferring your Betterment IRA to an IRA at another provider You will first need to reach out to your receiving institution and request to have your assets transferred out of Betterment to the new provider. They will need to know your Betterment account number, which can be found in “Settings.” There are no fees to transfer out or close your account. For IRA to IRA transfers, we’ll use the direct transfer process ...

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How do I withdraw funds from my account?

We’ll walk you through how to withdraw from a taxable account or an IRA. You can withdraw your money from Betterment at any time, without additional fees. We do not charge any trading fees or assess penalties for requested withdrawals or account closures. It’s your money, and is always accessible to you. From a web browser, after logging in to your account, go to "Transfer or Rollover" > "Withdraw." Withdrawals generally take about 4-5 business days to process; funds will automatically be ...

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Managing my account

What should I know about withdrawing from an IRA?

IRA distributions are withdrawals of funds from your account. There are four main distribution options on the Transfer page, which correspond to specific distribution codes on the tax form 1099-R. Early Distribution. If you are under age 59 ½, you will see the option for an “early distribution,” which may mean that you will pay a 10% tax penalty along with any taxes owed on the withdrawal. Normal Distribution. If you are over 59 ½, you will see the option for a “Normal Distribution,” which is ...

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How can I close my account?

You can close any investment account you have in your Betterment account once you’ve removed the funds. You can easily re-open investment accounts if you want to in the future. To close investment accounts you hold at Betterment, the process is simple. Log in from a web browser and select “Settings” and then “Accounts.” Once there, click the three dots to the right of the specific investment account(s) you wish to close. Before you can close an account, you must fully remove any funds from the ...

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