Individual transfer process
This article provides information on how to move funds from another HSA into your Forma HSA account.
Forma recommends beginning the individual transfer process after 1-2 payroll cycles. Before beginning the transfer process, note that some custodians charge one-time closure fees or have specific instructions for transfers.
Please make sure you have liquidated all your assets with your previous custodian before you opt-in to the transfer.
- Download the HSA Transfer of Assets form
- In section 1, enter your personal information (address, phone number, etc.)
- Complete the entire form, including your Forma HSA account and routing numbers. These numbers can be found by logging in to the Forma member portal.
- Send the completed form to your previous custodian. Reach out to your HR/Benefits Team for this information if needed.
What happens next?
The previous custodian will likely place a 7-10 day hold on the employee’s HSA while they transfer the funds. During that hold, there will be no access to those HSA funds. Expected completion of the individual HSA transfer is 4-6 weeks.