Betterment uses a direct transfer process to transfer existing IRAs into Betterment IRA accounts. These transfers are non-reportable transactions, which avoids any tax consequences for the user. In a direct transfer your current IRA provider generally sends Betterment a check or wire for the value of your account. When possible, Betterment will use electronic transfer (ACATS) to make the transfer process even more efficient. Read more about electronic transfers here. Review the IRAs we currently support with electronic transfers (ACATS) here.
To get started, go to the Transfer page of your account and click "Rollover". You'll answer a few questions and receive full instructions to complete your IRA transfer, based on your provider's requirements. You'll need to sign transfer paperwork that Betterment provides you to initiate the transfer.
Additionally, if you have a special retirement plan like an inherited IRA, then please contact us at firstname.lastname@example.org and we can guide you the process.
These instructions only apply if you'd like to roll your funds into a Betterment IRA. If you'd like to transfer funds into an existing Betterment 401(k) plan through your employer, please contact us at email@example.com for separate instructions.