Can I withdraw or transfer my money from my Later account whenever I want?

Article author
Nick
  • Updated

You can withdraw from your Acorns Later account any time, but it's important to know that making a withdrawal before you meet certain IRS requirements can have tax implications for many people, with only a few exceptions

What this means is 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.

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

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.

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