How do I withdraw my funds from Acorns Later?

How to withdraw your Acorns Later funds

What happens to my money when I make a withdrawal request?

Important tax information

We’re here to help! Before you withdraw funds from your Acorns Later IRA, though, please consider the potential financial consequences.

Withdrawals or transfers from any IRA can have tax implications. These penalties are enforced by the IRS to encourage us to stick with our retirement investing for the long-term.

We can’t advise you on taxes, but you can learn more from the IRS website.

How to withdraw your Acorns Later funds

First, make sure you have a verified checking account linked to your Acorns account so we can transfer your money. Here's how to see your linked accounts. 

Then, you can make a withdrawal request from your Acorns app or from acorns.com. 

1. Log into your Acorns account
2. Tap or click "Later"
3. Tap or click "Withdrawal"
4. After reviewing the facts about withdrawals, tap or click "Next"
5. Select the reason for your withdrawal and tap or click "Next"
6. Enter the amount you're withdrawing and tap or click "Next"
7. Under the dollar amount, there is an option to select the bank account you'd like your funds to be transferred to. Select the desired account.
8. Review your requested withdrawal and tap or click "Withdraw"

Please note that a withdrawal doesn't close your account. Here's how to close your Later account.

What happens to my money when I make a withdrawal request?

When you make a withdrawal request from your Later account, Acorns will sell the corresponding number of shares. It can take 3-6 business days for withdrawals to be fully reflected in your bank account.

If you make a request to sell your shares before 11am PT on a day the stock market is open, the request — also known as a "sell order" — is usually processed the same day. 

If your request was made after 11am PT on a market day or or on a day the market is closed, like the weekend, Acorns will sell your shares the following market day. 

Then, we're required by federal regulations to include a mandatory 2-day settlement period before we can start processing your request.

Withdrawing my Later Match

Later Match is a program we designed to put our money into your future. Learn more about it here! 

To maintain your match amounts, we require that you keep all funds in your Acorns Later retirement account for at least 4 years of a match deposit. This guardrail is in place to encourage you to stick to your long-term goals, and help protect Acorns from losing money. 

If you make a withdrawal from your IRA before the end of the 4-year holding period, Acorns will remove a percentage of your match amount from your account balance. We will calculate the deducted amount during the withdrawal process. 

For more information, check out our FAQ: Can I withdraw IRA matches from my Acorns Later retirement account?

Important tax information

If you make a withdrawal or choose to close your account, you may receive important tax forms from Acorns that you'll need for filing your taxes. We'll email you more information when it's close to tax time, or you can check for tax forms under Settings. 

Even if you’ve closed your Acorns account, you can still access your tax forms. Using your computer or a mobile browser, please login here and select “Tax Reports” from the “Documents and Statements” dropdown menu. 

Your tax situation is unique, so please consult a tax advisor or visit www.irs.gov with any questions before making a withdrawal or removing funds. Acorns doesn't provide tax advice, but if you have any questions or concerns about your account, please contact us.

Investing in your retirement is a key part of your financial wellness plan. It may seem far away, but the earlier and more consistently you invest, the more opportunity your money has to grow long-term—for the life you want later.

For more on retirement investment, check out this resource from Learn.

We hope this helps you grow your oak!