How do I transfer my account out of Betterment?
Transfers out of Betterment are non-ACAT transfers. All transfer paperwork will come from TD like an ACAT but the timeline will be quite a bit longer than for firms that use ACATS. For your taxable accounts, they can transfer full shares directly to another institution. For all IRA accounts - funds will be automatically liquidated to cash and a check will be sent to TD. There is no negative tax consequence for this.
TD will need to know the Betterment account number, which can be found on the "Settings" page of a Betterment account under "Accounts".
The transfer paperwork will include a full copy of the most recent Betterment statement, which can find on the Activity page in Betterment, and a completed and wet signed transfer form from TD.
In addition, if you are transferring out an account valued at over $250,000, to another IRA, the transfer paperwork will need to be medallion signature guaranteed. TD will send them with medallion signature guaranteed.
For transfers of less than $250,000 being transferred to another IRA, simply submit original transfer paperwork along with your most recent Betterment account statement.
If you are transferring out an account valued at over $250,000 to another taxable account, the transfer paperwork will need to be medallion signature guaranteed.
If you are transferring out less than $250,000 to another taxable account, please have your signature notarized on the transfer paperwork or have the paperwork medallion signature guaranteed, and include a full copy of your most recent Betterment statement.
The XYIS service team is always here to help if you have questions on this process. Shoot them an email at firstname.lastname@example.org or give them a call at (360) 301-7579.