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How can I move my assets to Wealthfront if I can’t link to my institution?

To move a taxable account:

You can proceed with the transfer by liquidating your account at your other institution and moving cash to Wealthfront.

  1. Liquidate your account and move the funds to your bank account.
  2. Log in to Wealthfront and transfer the cash from your bank account by clicking “Deposit Cash” on your dashboard.

Please note that liquidating your external account may be a taxable event. If you have questions about how this may impact you, please consult your tax advisor.

Roth IRA, Traditional IRA, SEP IRA, or Rollover IRA:  

You can proceed with the transfer by completing a 60-day rollover.

If your other institution can’t transfer your account through the industry-standard automated transfer process (ACATS), you can still roll over your account by completing a 60-day rollover.

To complete a 60-day rollover:

  1. Request a distribution from your other institution to your bank account.
  2. Once your funds are in your bank account, fund your Wealthfront IRA within 60 days. To move the cash from your bank to Wealthfront, log in to Wealthfront, click "Deposit Cash," and choose "Rollover Contribution.” (this usually takes 1-2 business days)

We do not calculate the 60-day period – that’s up to you and your tax advisor. When you complete the transfer to your bank from your other institution you will receive a 1099-R from your other institution showing the distribution, and we’ll send you an offsetting 5498 tax form.  This transaction would need to be reported on your taxes but there should not be any other tax consequences as long as the funds are returned to a matching IRA type on time, and you do not do another one of these transactions in a rolling 12-month period. Please consult a tax advisor for additional information regarding your situation. If you are looking to transfer multiple accounts in this way, please consult your tax advisor first.

For more information please review this IRS link on the rollover process:

https://www.irs.gov/retirement-plans/ira-one-rollover-per-year-rule

401(k), 401(a), Thrift Savings Plan, 403(b), Pension plan or 457(b):

Please review this FAQ for more information.

529 College Savings Account:

Please review this FAQ for more information.

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Wealthfront prepared this article for informational purposes and not as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information.

Wealthfront and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisor. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.

Wealthfront prepared this article for informational purposes and is not intended as tax advice nor as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront does not represent that any strategy will result in any of the outcomes described, including the effectiveness of any strategy in reducing tax liability, as this depends on an investor’s specific tax and investment profile. Investors are encouraged to consult their personal tax advisors regarding their unique circumstances and any outcomes/consequences that may result from any investment strategy. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.

Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.

Financial advisory, planning, and investment management services are offered by Wealthfront Inc. (“Wealthfront”), an SEC registered investment adviser. Brokerage products and services offered by Wealthfront Brokerage Corporation, member FINRA / SIPC, and a wholly-owned subsidiary of Wealthfront.