You can transfer money into your Forma HSA from your bank account through an ACH transfer. You’ll complete the process through your bank’s app and report it as a self-contribution in Forma.
To start the ACH transfer from your bank, follow the steps below. Please note that the flow will be slightly different depending on your bank.
- Go to your banking app > Transfer
- Add your HSA manually as an external account
- Enter your Forma account details
- You’ll need your HSA 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”.
Once the money is deposited into your HSA, you’ll see an ‘Action required’ message on your HSA benefit 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. For more information, refer to the article 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”