How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

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Topic Author
timmayy
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Joined: Mon Jan 14, 2019 2:57 am

How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by timmayy »

So I've taken a large ACH distribution from my bad HSA account into my BofA checking account.

Now I want to rollover these funds into my new Fidelity HSA. But how do I indicate that it's a rollover contribution? It looks like it's asking me to choose between regular contributions for either 2018 or 2019.

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Any help is appreciated. :)
Alan S.
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by Alan S. »

What's there if you click "continue"?
Topic Author
timmayy
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by timmayy »

Alan S. wrote: Wed Jan 16, 2019 11:36 pm What's there if you click "continue"?
Nothing much. Just a confirmation screen.

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Horsefly
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by Horsefly »

I think you are going to have to get some help from a rep at Fidelity. The transfer mechanism (at least they way you are trying to do it) is only for making a calendar year contribution to your HSA.

Too late now, but it would have been much cleaner if you could have had Fidelity help you do a trustee-to-trustee transfer from your bad HSA to them.
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timmayy
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by timmayy »

Horsefly wrote: Wed Jan 16, 2019 11:48 pm I think you are going to have to get some help from a rep at Fidelity. The transfer mechanism (at least they way you are trying to do it) is only for making a calendar year contribution to your HSA.

Too late now, but it would have been much cleaner if you could have had Fidelity help you do a trustee-to-trustee transfer from your bad HSA to them.
My bad HSA charges a fee for outgoing transfers to another HSA custodian, so I wanted to do an indirect rollover instead.

EDIT:

I just tried calling Fidelity's HSA center, but they're closed now. I'll get an answer directly from them tomorrow and post the procedure here. I wish they would've just included the rollover contribution option in their standard transfer web UI.
Spirit Rider
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by Spirit Rider »

You can not do a rollover online. You have to mail a paper deposit form designating it as a rollover contribution.
totoroto
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by totoroto »

You'll need to use a deposit form. Make sure to indicate '60-day rollover'.
https://www.fidelity.com/bin-public/060 ... t-slip.pdf

Edit: removed incorrect information
Last edited by totoroto on Thu Jan 17, 2019 1:03 am, edited 1 time in total.
Spirit Rider
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by Spirit Rider »

totoroto wrote: Thu Jan 17, 2019 12:43 am You'll need to use a deposit form. Make sure to indicate '60-day rollover' as well as the HSA current year or previous year.
You do NOT indicate current/previous year contribution.

Those check boxes are for respective direct contributions, which are mutually exclusive from each other and a rollover.

A rollover always occurs in the current year. It has and applies to no limit.
totoroto
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by totoroto »

Thank you for the correction. Only need to indicate 60-day rollover on the form.
Topic Author
timmayy
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by timmayy »

totoroto wrote: Thu Jan 17, 2019 12:43 am You'll need to use a deposit form. Make sure to indicate '60-day rollover'.
https://www.fidelity.com/bin-public/060 ... t-slip.pdf

Edit: removed incorrect information
Thanks! 8-)
Looks like a physical check + deposit slip + snail mail is the proper procedure.

I'm curious why Fidelity doesn't just put the "60-Day Rollover" option in the main transfer UI that I screenshotted in my first post. I'm still going to give them a call tomorrow and inquire why that is. I'll update this thread with the rep's answer.
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jhfenton
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by jhfenton »

timmayy wrote: Thu Jan 17, 2019 2:32 am
totoroto wrote: Thu Jan 17, 2019 12:43 am You'll need to use a deposit form. Make sure to indicate '60-day rollover'.
https://www.fidelity.com/bin-public/060 ... t-slip.pdf

Edit: removed incorrect information
Thanks! 8-)
Looks like a physical check + deposit slip + snail mail is the proper procedure.

I'm curious why Fidelity doesn't just put the "60-Day Rollover" option in the main transfer UI that I screenshotted in my first post. I'm still going to give them a call tomorrow and inquire why that is. I'll update this thread with the rep's answer.
The other option is to call Fidelity and have them pull in the rollover from a linked checking account. When they do it, they can designate it as a rollover. They just don't have a way to do it via the customer-facing website at the moment.

I would guess that they will fix it in time. Individual HSAs are a new thing, and they probably didn't see many inbound rollovers with their employer-sponsored accounts.
Topic Author
timmayy
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Re: How do I indicate an HSA rollover contribution on Fidelity's website UI? (screenshot included)

Post by timmayy »

So I just talked on the phone with a Fidelity rep.

1. She did confirm that in order to do a rollover, I should just use the Deposit Slip posted above and mail in a check.

2. As for why a rollover contribution option is not listed in the website's transfer UI, she said she didn't know, but that she'll forward my suggestion to the product and development team for consideration.
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