Skip to main content

How do I deposit into my IRA?

Published | Updated

Betterment offers three types of IRA deposits that you can initiate in your account:

1. One-Time IRA Deposits

A one-time deposit lets you make a single contribution to your IRA for a specific tax year.

  • Tax Year Options for IRAs:
    • Before the tax filing deadline, you can contribute to last year or the current year.
    • After the deadline, contributions apply only to the current year.
  • Processing Time:
    • IRA deposits typically complete in 3–5 business days.

2. Recurring Deposits into an IRA

Recurring deposits allow you to set up automatic contributions to your IRA.

  • Key Features:
    • Customize the amount and frequency of contributions.
    • Contributions are automatically applied to the current calendar year.
    • Betterment tracks your total annual contributions and pauses auto-deposits if you reach the IRS limit.

3. Indirect IRA Rollovers

An indirect rollover lets you transfer funds from another qualified retirement account into your Betterment IRA by temporarily routing the funds through your bank account.

  • Important Indirect Rollover Rules:
    • Indirect rollovers must be completed within 60 days of withdrawing funds from the original account.
    • Indirect rollovers are limited to one rollover per 12-month period per individual.
  • Preferred Method: Direct Rollovers
    While indirect rollovers are an option, direct rollovers are preferred to minimize errors. With a direct rollover, your previous provider transfers funds directly to Betterment, eliminating the need for you to handle the funds. For more information, see: How to Initiate a Direct IRA Transfer. 


How to Make an IRA Deposit

To make an IRA contribution using a web browser:

  1. Log in to your Betterment account on a web browser.
  2. Click the Deposit button at the top right of the page.
  3. Select and customize your contribution type:
    • Choose between a one-time deposit, auto-deposit, or an indirect rollover.
    • Adjust the deposit amount and frequency as needed.

To make an IRA contribution using the mobile app:

  1. Log into the Betterment mobile app.
  2. Tap Move Money on the home page
  3. Choose Deposit
  4. Select your IRA as the deposit destination
  5. Complete the prompts.

For more detailed information on IRA contributions, refer to IRS Publication 590-A.