Tax Information - Acorns Help Center (2024)

© 2021 Acorns Grow Incorporated | Disclosures | Accessibility

This website is operated by Acorns Advisers, LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of Acorns Advisers by Acorns Securities, LLC, an SEC registered broker-dealer and member FINRA. Member of SIPC. Securities in your account protected up to $500,000. For details, please see https://www.sipc.org.

Important Disclosures: Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Please consider, among other important factors, your investment objectives, risk tolerance and Acorns pricing before investing. Diversification and asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. It is not possible to invest directly in an index. Any hypothetical performance shown is for illustrative purposes only. Such results do not represent actual results and do not take into consideration economic or market factors which can impact performance. Actual clients may achieve investment results materially different from the results portrayed. Round-Ups® investments are transferred from your linked funding source (checking account) to your Acorns Invest account, where the funds are invested into a portfolio of selected ETFs. If you do not maintain an adequate amount of funds in your funding source sufficient to cover your Round-Ups® investments, you could incur overdraft fees with your financial institution. Only purchases made with a funding source linked to your Acorns account with the feature active are eligible for the Round- Ups® feature. Please note that a properly suggested portfolio recommendation is dependent upon current and accurate financial and risk profiles. Clients who have experienced changes to their goals, financial circ*mstances or investment objectives, or who wish to modify their portfolio recommendation, should promptly update their information in the Acorns app or through the website. Actual Acorns Earn rewards investments are made by Acorns Grow, Inc. into your Acorns Invest account through a partnership Acorns Grow maintains with each Acorns Earn partner. Acorns Subscription Fees are assessed based on the tier of services in which you are enrolled. Acorns does not charge transactional fees, commissions or fees based on assets for accounts under $1 million. Acorns Checking clients are not charged overdraft fees, maintenance fees, or ATM fees for cash withdrawals from in-network ATMs. Please see your Acorns Subscription Center or Account Statements for a description of the fees you pay to Acorns for its services. Third Party Quotes shown may not be representative of the experience of Acorns customers and do not represent a guarantee of future performance or success. Please click on each testimonial to review the context from which this quote was taken. Acorns, Round-Ups, Real-Time Round-Ups, Invest the Change and the Acorns logo are registered trademarks of Acorns Grow Incorporated. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsem*nt by them. Acorns reserves the right to restrict or revoke any and all offers at any time.

Acorns does not provide access to invest directly in Bitcoin. No level of diversification or asset allocation can ensure profits or guarantee against losses. Bitcoin exposure is provided through an ETF which invests in Bitcoin futures. They are considered high-risk investments given the speculative and volatile nature. Investments in Bitcoin ETFs may not be appropriate for all investors and should only be utilized by those who understand and accept those risks. Investors seeking direct exposure to the price of bitcoin should consider a different investment.

Compounding, generally, is the growth of principal investments due to the reinvestment of dividends without withdrawing funds from the account. Acorns investment accounts do not pay interest, so the impact of compounding may be limited. It is not an investing strategy and does not assure positive performance nor does it protect against losses. It does not take into account market volatility and fluctuations that will impact the value of any investment account.

The ETFs comprising the portfolios charge fees and expenses that will reduce a client’s return. Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. Investment policies, management fees and other information can be found in the individual ETF’s prospectus. Please read the prospectus carefully before you invest.

Acorns also offers an Acorns Checking deposit account. Acorns Checking accounts are FDIC insured up to $250,000. Acorns Visa™ debit cards are issued by Lincoln Savings Bank or nbkc bank, Members FDIC for Acorns Checking account holders. "Save and Invest" claim refers to a client's ability to utilize the Acorns Checking Real-Time Round-up feature to invest small amounts of money from purchases made using an Acorns Checking account, and seamlessly investing those small amounts using an Acorns Investment account. Requires both an active Acorns Checking account and an Acorns Investment account in good standing. Real-Time Round-Ups® are accrued instantly for investment during the next trading window.

For additional important risks, disclosures and information, please visit https://www.acorns.com/terms/

Tax Information - Acorns Help Center (2024)

FAQs

How do I get my tax information from Acorns? ›

From your Acorns app
  1. Log in to your account.
  2. From the home screen, tap the profile icon in the top left corner.
  3. Tap "Settings"
  4. Scroll down and tap "Documents and Statements"
  5. Tap the type of document you'd like to view.
Feb 28, 2024

Do I have to report my Acorns account to the IRS? ›

Every time you sell a portion of your investment, you incur what the IRS considers a taxable event. If you sell part of your portfolio and transfer it to another Acorns section such as the 'Later' retirement IRA or 'Spend' debit account, you still have to report those transactions to the IRS.

Why do Acorns take so long to send tax forms? ›

We send out your 1099 and other tax forms according to the schedule the IRS sets each year. Some of these forms are sent to you later than you might expect — but it's for a good reason. To help your money grow, we invest some of it in funds that can take a little longer to report their annual results.

How to get ahold of Acorns customer service? ›

There are three ways you can contact GoHenry:
  1. Send a message through the 'Contact our Member Services' page found here. ...
  2. Send an email to help@gohenrycard.com with your questions, comments, or feedback.
  3. Call GoHenry between the hours of 9 am - 5 pm EST, 7 days a week at (877) 372-6466.
Mar 3, 2021

Do I get taxed if I withdraw from Acorns? ›

Are there any tax implications for withdrawing money from Acorns? Yes, withdrawals from Acorns Invest may be subject to taxes on any capital gains realized from the investments. The tax treatment depends on the type of account in which the investments are held.

Where is my Acorns account number for taxes? ›

How do I find my account number?
  1. Your Acorns Invest account number can be found on your Invest monthly statement. ...
  2. Your Acorns Later account number can be found in the Later section of your Acorns account. ...
  3. Your Acorns Checking account number can be found in the Banking section of your Acorns account.
Apr 4, 2024

Does Acorn issue 1099? ›

If you're an Acorns Invest or Early investor any of the following apply to you, you'll receive your 1099-DIV/B form by February 21, 2024: You received more than $10 in dividends in the previous year. You withdrew from your Acorns Invest or Early account or sold some of your investments for more than $20 last year.

What happens to my money if Acorns goes under? ›

Your deposits in your Acorns Checking account are protected up to $250,000 — that's because our banking partners, Lincoln Savings Bank and nbkc bank, are both FDIC members. The FDIC insures deposits in bank accounts up to $250,000 for each depositor. FDIC insurance generally covers each depositor per bank.

Is acorn worth it? ›

Is Acorns Worth it? Acorns charges monthly membership fees, starting at $3 per month. Even though it is a very easy way to get started investing, if you don't make enough purchases each month to round up and set aside enough money, the monthly fee could outweigh the benefit.

Is acorn later tax deductible? ›

Yes, Acorns Later is our IRA (or "Individual Retirement Account"). An IRA may provide you with tax benefits while you invest for your retirement.

What is my exclusion percentage? ›

The exclusion ratio is simply the percentage of an investor's return that is not subject to taxes. The exclusion ratio is a percentage with a dollar amount equal to the return on an initial investment. Any return above the exclusion ratio is subject to taxes, such as a capital gains tax.

How to get acorn tax documents? ›

Where to check for your tax forms. We'll email you a link to download your forms, or you can check for tax forms in Settings. You'll be able to download your forms digitally as PDFs — we won't send the forms through the mail. Even if you've closed your Acorns account, you can still access your tax forms.

Who is Acorns owned by? ›

The company was launched in 2012 by father and son duo Walter Wemple Cruttenden III and Jeffrey James Cruttenden to promote incremental and passive investing. It launched in 2014 with an app for iOS and Android devices.

What is the penalty for taking Acorns later? ›

Withdrawing funds early from your Acorns Later account could result in a penalty (generally an additional 10% tax, and possibly income taxes and other penalties).

How do I download my Acorns statement? ›

Acorns App:
  1. Login to Acorns and tap the menu (avatar) icon in the upper left corner.
  2. Tap “Settings”
  3. Tap “Documents and Statements”
  4. Scroll down to the Checking section and tap “Statements”
  5. Here you can find and download the latest available statement.
Mar 3, 2021

How to connect Acorns to turbotax? ›

Go to Federal, then Investment Income, then Stocks, Mutual Funds, Bonds, Other. Then click on add more sales, say yes to receiving a 1099B, on the next page type in Acorns, then click on the Icon. Enter your account number and Document ID.

What is 1099k for? ›

Form 1099-K is a report of payments you got for goods or services during the year from: Credit, debit or stored value cards such as gift cards (payment cards) Payment apps or online marketplaces, also called third party settlement organizations or TPSOs.

How to get stash tax documents? ›

Scroll down to the Documents section and click Portfolio. Navigate to the account type you are looking for documentation on. Click Tax Documents – now you've got the documentation you need to declare any income or loss you may have realized from the previous tax year.

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