If you're planning to transfer your Forma HSA funds to another HSA account, follow these steps to ensure a smooth process. Please note that a $25 fee will apply.
Start by reaching out to your new HSA custodian to request their HSA transfer form. Once you’ve completed the form, send it to support@joinforma.com. If the form asks for your current custodian’s information, please provide the following:
- Custodian Name: Thread Bank
- Address: 210 East Main Street, Rogersville, TN, USA, 37857
The transfer process typically takes 6 weeks to complete.
Before starting the transfer, be sure to liquidate any invested HSA funds and return them to your HSA spending account. You'll also need your HSA account and routing numbers, which can be found on the HSA details page in your Forma account.
You will receive an email from Forma when you complete the request to transfer HSA funds out of Forma and that request is being processed.
FAQs
Is there a fee for each transfer-out request?
Yes. A $25 service fee applies to each transfer-out request submitted on or after February 14, 2026.
How is the $25 service fee charged?
The $25 service fee is deducted directly from your HSA once your request is approved.
How does the fee work for a partial transfer?
For a partial transfer, the $25 service fee is added to your transfer amount. For example, if you request a $500 transfer, $525 will be deducted from your HSA.
Can I cancel my transfer request?
Yes. To cancel your request without being charged the $25 service fee, you must contact Forma Support before the fee is charged.
If the fee has already been charged, it is non-refundable. You can still cancel the transfer if it has not yet been processed.
What happens if my HSA balance is less than $25?
If your HSA cash balance is below $25, you won't be eligible to submit a transfer request. You’ll need to wait until your balance is at least $25 and then submit a new request.
If you request to close your HSA and your remaining balance is less than $25, the remaining balance will be deducted and your HSA will be closed.
Will I receive a receipt or invoice for the service fee?
No. A separate invoice or receipt is not provided for the $25 service fee. You’ll see the fee listed as a transaction in your HSA portal and on your statement.
Does the $25 fee apply to HSA transfers within Forma?
No. The $25 service fee does not apply when you transfer funds between two HSAs held with Forma.
However, if you have an investment account, you’ll need to liquidate your investments before transferring your funds, as direct investment transfers aren't supported.