If you choose to sell and withdraw your funds from your Swell account rather than processing an account transfer, please follow the steps below:
- Log in to your Swell account
- Select Withdraw from the Manage Mix dropdown
- Select your Swell Roth IRA Mix as the source of the withdrawal
- On the following page, check the box next to “Sell All Investments” and select your linked bank account from the “deposit to” dropdown
- Check the box next to the tax disclosure and click Submit to finalize your withdrawal
- Tap the Account Actions icon in the top right, and then Withdraw.
- Tap Yes, Withdraw button on the disclaimer screen.
- Select Source → Swell Roth IRA Mix
- Tap the Withdrawal All checkbox.
- Select the bank link you want the funds sent to.
- Confirm everything is correct then tap Confirm.
Swell will manually close any accounts that do not have an account balance on August 30th. There is no further action needed on your end to close this account. Swell will not charge any fees for closing your account.
Please keep in mind that if you are younger than 59 ½, there may be tax consequences and penalties for your withdrawal. We recommend reading through the IRS website and/or talking to a tax professional if you decide to take this route.
*Swell Investing does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.