How much can I withdraw from my Later account?

Article author
Trish V.
  • Updated

You can withdraw from your Acorns Later account any time, but there's a maximum withdrawal limit of $50,000 per transaction.

It's important to understand that your Acorns Later account is an IRA (individual retirement account). IRA plans can come with some big potential tax benefits — like being able to defer paying taxes until you're ready for your retirement and you meet certain IRS requirements.

But on the flip side, that means early withdrawals or transfers could have tax implications for some people, with only a few exceptions. Withdrawing funds early from your Acorns Later account could result in a penalty (generally an additional 10% tax, and possibly income taxes and other penalties). You can learn more from the IRS website

Here's how to withdraw funds from your Acorns Later account.

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