You can easily transfer money from your bank account into your Forma HSA through an ACH transfer. This process is initiated through your bank’s app, and once complete, you'll need to report it as a self-contribution in your Forma account.
Setup to transfer funds
Follow the steps below to get started. Keep in mind that the exact process may vary depending on your bank.
- Go to your banking app > Transfer
- Add your HSA manually as an external account.
- Enter your Forma HSA details. You’ll need your account and routing numbers which you can find on your HSA details page in your Forma account.
- Typically the bank will send micro-deposits to verify the account (small deposits less than $1). Once you see these micro-deposits on your HSA transactions table, you should be able to transfer funds to your HSA.
- You will be prompted to label these micro-deposits. Select the type “Non-Reportable”.
Labeling the transfer
Once the money is deposited into your HSA, you’ll see an ‘Action required’ message on your HSA benefits page. Follow the steps below to label the ACH transfer.
- Log in to Forma
- Select ‘Benefits’ from the top navigation bar
- Select “Health Savings Account (HSA)”
- On the ‘Transfer type (Deposit)” dropdown menu, select the transfer type. To learn more, see What are the types of HSA transactions?
- Check the box to confirm that you read, understood, and agreed to the terms and conditions
- Click “Confirm and submit”