Transfer your HSA from Rippling to Hammock
Your HSA balance is yours — it doesn't stay behind when you leave a job or switch providers. Here's how to move your existing HSA from Rippling into your Hammock HSA.
How it works
Moving your HSA is an indirect rollover: the money leaves Rippling, lands briefly in your own bank, and you send it on to Hammock—all within 60 days.
You request your full balance as a distribution—an ACH payout to your personal bank account.
The deposit sits in your checking account for a few days. The day it lands starts a 60-day clock.
Send it on within 60 days and it stays tax-free without counting against your annual contribution limit.
60 days: Deposit the funds into Hammock within 60 days of receiving them, or the amount becomes taxable and may be subject to an additional tax.
Once per 12 months: The IRS allows one indirect HSA rollover in any rolling 12-month period.
Before you start
The funds need somewhere to land. Opening one is free and takes a few minutes.
The same account your Rippling funds will land in.
Across all your HSAs. If you're inside that window, wait it out first.
1Prep your Rippling HSAIn Rippling
Only cash can be distributed. Liquidate positions and wait 1–2 business days for trades to settle. No federal tax consequences; California and New Jersey residents may owe state tax on gains.
Outstanding debit card transactions or claims should settle before you request the full balance.
Screenshot it — you'll want to confirm the full amount arrives.
2Request a distributionIn Rippling
In Rippling, find your HSA under Benefits and request a distribution of your full balance—or close the account if you are not keeping it. Choose ACH to your personal bank account if it is offered; it is faster than a mailed check.
If you close the account, trailing interest often posts afterward. Roll it in with everything else if it arrives inside your 60-day window.
This is the tax form that reports your distribution. It's completely normal to receive one—set it aside for tax time, and it fits together in step 5.
3Watch for the fundsYour bank
The money arrives in your personal bank account as a deposit from Rippling's HSA custodian. Confirm that it matches the balance you noted. Write down the day it lands—your 60-day window starts then.
4Roll the funds into HammockIn Hammock
In Hammock, go to HSA → Transfer HSA into Hammock, pick the bank account where the funds landed, and enter the full amount. The dedicated rollover flow codes the transfer as a rollover automatically, so it does not use your annual contribution limit.
Once submitted, the funds are generally available within three business days. Hammock will email you when they have landed.
5Keep your tax formsAt tax time
Nothing needs to be filed today. Keep these forms together for your federal return:
Reports the distribution. Typically arrives in January.
Reports the rollover contribution. Hammock surfaces it in your account when it's issued.
You (or your tax software) complete it and file it with your federal return, showing the distribution and the offsetting rollover. No custodian sends it — the two forms above are your source numbers.
Quick FAQ
Does this use my annual contribution limit?
No. Rollovers do not count against the annual HSA contribution limit.
What if I've already completed an indirect rollover?
IRS rules permit one indirect rollover per rolling 12-month period across all your HSAs. If you're inside that window, wait it out — or hold for Hammock's direct transfer option, which has no such limit.
Can I roll over only part of my balance?
Yes. You can distribute and roll over a partial amount; the same 60-day rule applies to whatever you take.
What happens if I miss the 60-day deadline?
The distribution becomes taxable income, plus a 20% additional tax if you're under 65. Set a reminder the day the money lands — realistically, the deposit into Hammock takes five minutes, so do it right away.
Should I close my Rippling HSA or leave it open?
If you're moving everything, closing avoids the monthly fees some custodians charge on low or zero balances. Check whether Rippling's custodian charges a closure fee first.