What happens when my kid reaches the age of transfer?

Glad you asked! When your Acorns Early Invest child reaches their Age of Transfer, they can easily set up their own Acorns Invest account, and transfer their Early Invest funds to invest in their future!

To open their own Acorns Invest account, they can download Acorns from their app store, or sign up through our website.

What is the age of transfer?

• The age of transfer refers to the age that the custodian (that's you!) needs to transfer the money in the Acorns Early Invest custodial account to the beneficiary (the child).
• The actual age varies state-to-state, but is typically between 18 to 25
• The transfer age is determined when the Acorns Early Invest account is created, as required by applicable gifting to minors laws. 
• The date can't be changed once the account is set up. 

Once the beneficiary’s Acorns Invest account is verified, please have them contact support to begin the transfer process from their Acorns Early Invest account.  

If your beneficiary is tempted to withdraw their funds at their Age of Transfer, keep this in mind:

1. Withdrawing investments may cause a taxable event. Please consult a tax professional before proceeding.
2. Withdrawing money from an investment account means that money no longer has an opportunity to grow over time. Historically, the U.S. stock market has grown 10% on average per year. Imagine what that account could grow into! 
3. Acorns is about more than investing—we’re about full financial wellness. Not only can they keep investing, but they can access a suite of money tools to help them grow, from banking to retirement investing and more. 

Keep helping the child in your life grow by introducing them to everything Acorns has to offer.

Let’s keep growing their oak!