Transfer your HSA from WealthCare 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 WealthCare HSA into your Hammock HSA.
How it works
Moving your HSA is an indirect rollover: the money leaves WealthCare, lands briefly in your own bank, and you send it on to Hammock—all within 60 days.
WealthCare has a purpose-built form for exactly this: the HSA Rollover Distribution Form. Most of the work is filling it out correctly once.
You submit a rollover distribution request for your full balance, paid out 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.
Tax free within 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.
The HSA Rollover Distribution Form pays your balance out to you, and you forward it on. That's the route this guide covers, and it's what Hammock's in-app transfer flow is built for.
The HSA Transfer of Assets Form (sometimes called a trustee-to-trustee transfer) sends money straight from one custodian to the other, never touching your bank. It skips the 60-day clock and the once-per-12-months limit, but Hammock's transfer flow is built for rollovers, so direct transfers aren't self-serve today. If the rollover route doesn't work for you, contact Hammock support to ask what's possible before filing anything.
Before you start
The funds need somewhere to land. Opening one is free and takes a few minutes.
The same account your WealthCare funds will land in.
Across all your HSAs. If you're inside that window, wait it out first.
1Prep your WealthCare HSAIn WealthCare
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.
If no bank account is on file, WealthCare mails a paper check instead—slower, and the 60-day clock still runs. Add or confirm your bank details in your WealthCare Portal's profile or banking settings—the exact location varies by administrator—and make sure it's the same account you linked to Hammock.
Screenshot it — you'll want a baseline to compare against what lands after fees.
2Submit the rollover distribution formIn WealthCare
WealthCare HSAs are custodied by WealthCare Saver but administered day to day by a benefits administrator, and each one hands out its own copy of the form with its own submission address. So start by finding yours: call the number on the back of your HSA debit card, or check the forms or resources section of your WealthCare Portal.
- Ask for—or download—the HSA Rollover Distribution Form.
- Fill in your accountholder details and the HSA account number.
- Enter the amount: your full balance, or a partial amount if you're only moving some of it.
- Choose direct deposit to the bank account on file as the disbursement method.
- Sign the accountholder certification. It confirms you're the accountholder and entitled to the distribution.
- Submit it the way the form says—administrators differ on mail, fax, email, and portal upload.
WealthCare Saver's published fee schedules list roughly $25 for an outgoing rollover distribution, deducted straight from the payout rather than billed separately. Your exact fees are in your administrator's HSA fee schedule—ask when you request the form. Plan on the deposit landing a little short of the balance you screenshotted.
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 WealthCare Saver. Processing times vary by administrator, so ask when you submit the form. Write down the day it lands—your 60-day window starts then, not the day you filed.
4Roll the funds into HammockIn Hammock
In Hammock, go to HSA → Transfer HSA into Hammock and pick the bank account where the funds landed. When the form asks for your previous provider, choose Other and enter WealthCare Saver. Set Transfer type to Full account if you moved your whole balance, or Partial if you only moved some of it. Enter the amount that actually arrived—not the balance before fees. 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's HSA custodian will issue this form before the IRS tax deadline.
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.
Who do I contact — WealthCare, WealthCare Saver, or someone else?
Start with the number on the back of your HSA debit card. WealthCare Saver is the custodian holding your money, but a benefits administrator runs the account day to day and is the one who processes your form.
The fees came out of my balance. Can I roll over the original amount?
No—you can only roll over what you actually received. The fee is gone. If you have room under this year's contribution limit, you can make up the difference as an ordinary contribution to Hammock, which is a separate transaction from the rollover.
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, either wait it out or contact Hammock support to ask whether a direct trustee-to-trustee transfer (which the once-per-12-months rule doesn't cap) is an option for you.
Can I roll over only part of my balance?
Yes. Put the partial amount on the form; 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 WealthCare HSA or leave it open?
If you're moving everything, closing avoids the monthly fees many administrators charge on low or zero balances. Closing has its own form and its own fee, so weigh that against what you'd pay to leave it open.