Do you have more than one Health Savings Account (HSA)?

You can easily transfer or rollover your existing HSA into one account. HSA Bank is dedicated to its customers and available to support you every step of the way. HSA Bank's goal is to ensure that your HSA transfer or rollover is easy and seamless from beginning to end.

Benefits of transferring or rolling over your HSA

If you already have a HSA at another institution, HSA Bank offers key benefits to its customers who want to consolidate their HSAs into one account, including:
 

Tips for navigating the HSA transfer or rollover process

It’s important to understand the elements of a HSA transfer or rollover when making the decision to consolidate. HSA Bank has provided a brief list of tips to help you navigate the process:

• HSA to HSA transfers are free and can be completed without limit.
• HSA rollovers are free, but can only be rolled over once within a 12 month period.
  • Customers can contribute HSA funds to a personal account then send a personal check.
  • Can also sign over the closing check by endorsing the back and including "For Deposit Only – HSA Bank."
• HSA Bank does not count HSA transfers or HSA rollovers against the current tax-year IRS contribution limit. However, if you made current tax-year contributions to your prior HSA, those contribution amounts will be counted toward the annual IRS contribution limit, and will be reported to the IRS by your previous custodian.
• HSA Bank does not charge any fees for transfer or rollover of your HSA accounts, but your existing provider may charge an account closing fee.

HSA Bank is here to help

HSA Bank's Client Assistance Center is comprised of staff who are knowledgeable in HSA transfers and rollovers and are eager to help you begin the process of easily consolidating your accounts with HSA Bank.

_{*Brokerage accounts are the sole responsibility of the account owner. Carefully weigh the advantages and disadvantages of investing your HSA funds before doing so. Investment programs are not FDIC insured and are not bank guaranteed. Investment programs are not deposit accounts or obligations of HSA Bank and may lose value. Performance data and ratings represent past performance and are not a guarantee of future results. Investment returns and principal value will fluctuate and investors' shares, when sold, may be worth more or less than original cost.}

_{**Available for current customers. HSA Bank does not charge a fee for a rollover or transfer. Please check with your current HSA Administrator regarding fees associated with the closing of your previous account(s).}

Transferring funds from an IRA to an HSA

The IRS allows customers to complete a once-per-lifetime transfer from an IRA account to an HSA. Below are a few of the details to know when considering this transaction:

• A transfer of an IRA to an HSA can occur once per person, per lifetime.
• The transferring IRA and HSA must be owned by the same individual (no such thing as a joint IRA or HSA).
• This transfer does count toward the annual contribution limit.
• You can transfer from a Traditional or Roth IRA without further restrictions.
• You can transfer from a SEP or Simple IRA, as long as the IRA is no longer considered "ongoing" by IRS definition.
• IRA funds are non-transferable to spouse or partner HSA accounts.
   

What to know about in-kind investment transfers

Individuals transferring or rolling over to HSA Bank, with HSA assets invested in stocks, bonds or mutual funds with another HSA custodian, may be eligible to do so in-kind. Elements to consider include:

• Certain HSA custodians may require liquidation of investment account funds.
• Not all investments are eligible for in-kind transfer (i.e. Proprietary Investments).
• If eligible for Automated Account Transfer Service (ACATS), the process may take as little as 3-5 business days.
  • Without ACATS, the process may take up to two months.
• Fees may be incurred from the transferring custodian.

To complete the transfer in-kind process, please follow these steps:

1. Use our Customer Website service to set up a linked Schwab account.
2. Fill out the Schwab Transfer Form.
3. Send the Schwab Transfer Form to HSA Bank, along with a copy of previous investment statements to provide details on previously invested assets.
4. HSA Bank will work with Schwab to initiate in-kind transfer.

_{Disclaimer: This information is for educational purposes only. It is not financial or tax advice. Please seek the advice of licensed and/or competent individuals before making any investment, financial or tax planning decisions. Do not rely solely on this information. Your individual needs and results will vary.}