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How can I manage my 401(k) plan invoices and payments?

Published

Plan invoices are sent to the primary billing email on file, but they can also be accessed anytime through the plan sponsor dashboard.

How to Find Your Invoices:

  1. Select "Settings" from the left-hand menu.
  2. In the "Your Profile" tab, scroll to the "Billing" section.
  3. Click "View & Manage Billing Information" to see and manage invoices.

Payment Methods:

Invoices are sent via Stripe and can be paid directly from the billing email. You can also pay through the Stripe payment portal, accessed via the plan sponsor dashboard or the invoice email.

  • Autopay: If you pay via Stripe, you will be automatically enrolled in autopay, charging the payment method on file. You can cancel autopay anytime by removing your payment method.
  • Bank Transfers (ACH or Wire): Select "Bank Transfer" when viewing your invoice to access payment instructions. Payments via bank transfer do not enroll you in autopay.
  • No Checks Accepted: Betterment does not accept check payments. Any received checks will be securely discarded.

Managing Autopay:

To enroll in autopay:

  1. Go to Settings > Billing in the plan sponsor dashboard.
  2. Select "View & Manage Billing Information".
  3. Click "Add a Payment Method" to set up autopay.

To cancel autopay:

  1. Follow the same steps above.
  2. Remove your payment method to unenroll.

Managing Billing Emails:

  • You can have multiple billing emails to receive invoices, receipts, and reminders.
  • However, only one email can serve as the primary billing contact, which can be updated in the billing portal.
  • To add additional billing emails, select "Add additional billing email(s)" in the dashboard.

Updating the Billing Email on File:

  1. Navigate to Settings > Billing.
  2. Click "View & Manage Billing Information".
  3. Select "Update Information" to change the billing email.

Invoice and Payroll Bank Accounts Are Separate

The billing bank account and the payroll bank account are handled separately. Updating your billing payment method will not change the bank account used for payroll contributions. Payroll bank account updates must be processed in the Payrolls section of the plan sponsor dashboard.

Any active plan administrator can access invoices, make payments, and update billing settings through the plan sponsor dashboard.