Want to consolidate your funds from previous HSA providers? We can help! Here's how to make a trustee-to-trustee transfer.
How to make a trustee-to-trustee transfer
Select Transfer.
Select Trustee-to-Trustee.
Enter your former HSA provider and account number.
Choose how much you'd like to transfer, and if you'd like to close the account of your old HSA.
Select Preview Form.
Download & print your completed form.
Mail your form to your previous HSA provider. Once your provider receives the transfer form, they’ll initiate the transfer.
Receive your transfer. Once we receive it, your transfer will be reflected in your savings balance. Please be advised that it can take up to five weeks for us to receive the check from your former HSA provider.
Note on Exceptions
Some HSA providers may require you to fill out their own form. If this is true for your situation, it may prolong your transfer process.
Trustee-to-trustee transactions 101
A trustee-to-trustee transaction is a trustee-to-trustee (T2T) transaction, not a trustee-to-you-to-trustee transaction. After you request a T2T transfer, the previous HSA trustee will issue a check (electronically or on paper) to your new HSA. You won't have the funds sent to you, so you only need to make the request.
Rollover comparison
A rollover is another method of transferring HSA funds. Here's how it differs from trustee-to-trustee transfers.
Account holders are limited (by the IRS) to one rollover a year.
The check is issued to you to send to your new HSA provider.
Account holders must deposit the check or transfer the exact funds to their new HSA within 60 days to avoid tax penalties.
A trustee-to-trustee transfer (T2T) can be more effortless for account holders than a rollover transfer, as it allows the banks to communicate directly (without having account holders act as messengers).
Unlimited T2T transfers per year
Trustee-to-trustee transfers can happen an unlimited number of times per year. There is no limit on how many times you do this. If you have multiple HSAs, consolidating them on this platform is simple and easy.