Get the free Request for Transfer to a Health Savings Account (HSA)

The form is designed to assist individuals in transferring assets from one Health Savings Account (HSA) to another or from an Archer Medical Savings Account (MSA) to an HSA, providing necessary information

How to fill out request for transfer to

How to fill out Request for Transfer to a Health Savings Account (HSA)

1. Obtain the Request for Transfer form from your HSA administrator or financial institution.
2. Fill in your personal information, including your name, address, and Social Security number.
3. Provide the name and contact information of the current holder of the funds (the previous HSA or account administrator).
4. Specify the amount you wish to transfer from your previous account to your HSA.
5. Sign and date the form to authorize the transfer.
6. Submit the completed form to your HSA administrator for processing.

Who needs Request for Transfer to a Health Savings Account (HSA)?

1. Individuals who have an existing Health Savings Account (HSA) and want to transfer funds from another HSA or a qualified account.
2. Persons looking to consolidate multiple HSAs into one account for easier management.
3. Employees who have changed jobs and wish to transfer their HSA balance from their previous employer's plan.

People Also Ask about

Can I transfer HSA to another person?

You can transfer a Health Savings Account (HSA) and send the account balance directly from one custodian to another. To move funds from another custodian to HealthEquity: Complete the transfer request form. Upload the completed form to HealthEquity from the Support page.

How do I transfer my HSA to a beneficiary?

In the event of your death, your beneficiary will need to complete and return the HSA Beneficiary Account Distribution Form before the funds in your HSA can be transferred to them. They can find this form on the member website or they can call the Customer Care Center to have one sent to them.

Is a HSA account transferable?

Once you've had an HSA-eligible health plan and opened an HSA, the money in it is yours to keep and do with as you please (within plan and IRS rules), including transferring it to a new HSA at a different provider through what's called an HSA rollover.

What is the difference between a rollover and a transfer HSA?

A rollover is another way to consolidate your HSAs. It differs from transfers in that your HSA provider sends your current HSA funds to you and not directly to your new HSA provider.

What happens to HSA if you don't use it?

Unspent HSA funds roll over from year to year. You can hold and add to the tax-free savings to pay for medical care later. HSAs may earn interest that can't be taxed. You generally can't use HSA funds to pay premiums.

How to initiate an HSA transfer?

Consolidation option steps Sign Up for a Health Savings Account with HSA Bank. Fill out and mail the Direct Transfer Request Form to your current custodian. Form is reviewed and processed by your current custodian. Funds transferred by check from your current custodian to HSA Bank. HSA Bank accepts funds into account.

Can an HSA be used on someone else?

Yes. You can use HSA funds to pay for qualified health care expenses for yourself, your spouse or dependent(s) even if they are covered under another health plan. Generally, people qualify as your dependent(s) if you claim them as an exemption on your federal income tax return.

What is the difference between a rollover and a transfer HSA?

A rollover is another way to consolidate your HSAs. It differs from transfers in that your HSA provider sends your current HSA funds to you and not directly to your new HSA provider.

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What is Request for Transfer to a Health Savings Account (HSA)?

The Request for Transfer to a Health Savings Account (HSA) is a form used to facilitate the transfer of funds from one financial institution's HSA to another, ensuring the account holder maintains their tax-advantaged health savings.

Who is required to file Request for Transfer to a Health Savings Account (HSA)?

Account holders who wish to transfer their existing HSA funds from one custodian or trustee to another are required to file the Request for Transfer to a Health Savings Account (HSA).

How to fill out Request for Transfer to a Health Savings Account (HSA)?

To fill out the Request for Transfer to a Health Savings Account (HSA), account holders need to provide personal identification information, details of both the current and receiving HSA custodians, and any account numbers associated with the funds being transferred.

What is the purpose of Request for Transfer to a Health Savings Account (HSA)?

The purpose of the Request for Transfer to a Health Savings Account (HSA) is to formally initiate the transfer of HSA funds between financial institutions while preserving the tax-exempt status of the funds during the process.

What information must be reported on Request for Transfer to a Health Savings Account (HSA)?

The information that must be reported on the Request for Transfer to a Health Savings Account (HSA) includes the account holder's personal details, current HSA account information, receiving HSA account information, and the amount of funds to be transferred.