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*0200300013672* HSA DIRECT ROLLOVER/ TRANSFER REQUEST FORM The HSA Direct Rollover/Transfer Request Form is used to facilitate the transfer of assets from an MSA to an HSA or between two Has. This

How to fill out hsa direct rollover

How to fill out HSA direct rollover?

1. Obtain the necessary forms: To fill out an HSA direct rollover, you will need to obtain the appropriate forms from your previous HSA custodian or plan administrator. These forms may vary depending on the institution, but they generally include a direct rollover request form and a distribution form.
2. Provide required information: Fill out the direct rollover request form, providing all the necessary information such as your full name, address, Social Security number, and the name of the financial institution receiving the rollover funds. Make sure to double-check all the information you provide to ensure accuracy.
3. Complete the distribution form: Fill out the distribution form provided by your previous HSA custodian or plan administrator. This form will require you to specify the amount you want to rollover, the reason for the distribution (in this case, for an HSA direct rollover), and any other required details. Again, accuracy is crucial when completing this form.
4. Submit the forms: Once you have completed both the direct rollover request form and the distribution form, make sure to sign and date them. Review the forms one last time to double-check for any errors or missing information. Then, submit the forms to your previous HSA custodian or plan administrator. They will process your request and initiate the direct rollover to the new HSA custodian.

Who needs HSA direct rollover?

1. Individuals changing jobs: If you are changing jobs and have an HSA with your previous employer, you may need to perform an HSA direct rollover in order to move the funds to your new employer's HSA or to an individual HSA.
2. Individuals consolidating multiple HSAs: Some individuals may have multiple HSAs due to previous employment or other reasons. In such cases, performing an HSA direct rollover allows for the consolidation of all HSA funds into a single account, making it easier to manage and track contributions, withdrawals, and investments.
3. Individuals seeking better HSA options: If you are not satisfied with the services, fees, or investment options offered by your current HSA custodian, you may opt for an HSA direct rollover to a different financial institution that better suits your needs.

It is important to consult with a financial advisor or tax professional before performing an HSA direct rollover to ensure compliance with IRS regulations and to make informed decisions based on your specific financial circumstances.

For pdfFiller’s FAQs

What is hsa direct rollover?

A health savings account (HSA) direct rollover is a tax-free transfer of funds from one HSA to another or from an Archer MSA to an HSA.

Who is required to file hsa direct rollover?

Individuals who want to transfer funds from one HSA to another or from an Archer MSA to an HSA are required to file for an HSA direct rollover.

How to fill out hsa direct rollover?

To fill out an HSA direct rollover, individuals must complete the proper forms provided by the financial institution managing the HSA account.

What is the purpose of hsa direct rollover?

The purpose of an HSA direct rollover is to allow individuals to transfer funds between eligible accounts without paying taxes or penalties.

What information must be reported on hsa direct rollover?

Information such as the amount being rolled over, the account numbers of both the sending and receiving accounts, and details of the financial institutions involved must be reported on an HSA direct rollover.

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