Yes! You can use AI to fill out Health Savings Account (HSA) Transfer Request

The form instructions state to send the completed request to the 'previous trustee/custodian' (the institution you are transferring funds from). A frequent error is mailing the form to Voya, the receiving institution, which cannot initiate the transfer. This mistake significantly delays the process, as the form must be rerouted or resubmitted to the correct entity. Always send the form to the financial institution listed in Section 2.

In Section 2, people often enter a generic name for their previous institution (e.g., 'My Bank') or a local branch address instead of the specific corporate address required for asset transfers. This ambiguity forces the custodian to reject the form, causing delays. To avoid this, use the full, official legal name of the transferring custodian and find their specific mailing address for transfer processing, which is often found on account statements or their website.

A single mistyped digit in the 'Account Number or Identification' field in Section 2 is a critical error that will cause an immediate rejection of the transfer request. The previous custodian cannot locate the funds without the exact account number. To prevent this, carefully double-check the account number against a recent statement from your old HSA or IRA. AI-powered form filling tools like Instafill.ai can help by securely storing and accurately auto-filling this sensitive information.

Forgetting to sign or date the form in Section 6 is a simple but very common mistake that renders the entire request invalid. Financial institutions cannot act on an unsigned request for legal and security reasons, leading to an automatic rejection. Always perform a final review before submission, specifically checking that the signature and date fields are completed. If the form is a non-fillable PDF, tools like Instafill.ai can convert it into a fillable version, making it easier to complete all fields.

The document header and footer clearly state 'Page 1 of 2' and 'Incomplete without all pages.' Applicants sometimes overlook this and only send the first page, assuming the second page is just for reference. However, the second page contains the critical transfer instructions and signature line, and its absence will cause the request to be rejected. Always ensure you are submitting both completed pages together.

In Section 3b, applicants must clearly indicate whether they want to transfer the 'Entire Account Balance' or a 'Specific Dollar Amount.' A common mistake is checking both boxes, checking neither, or writing a dollar amount without checking the corresponding box. This ambiguity prevents the custodian from knowing how much money to transfer, leading to processing delays or rejection. Carefully select only one option to provide clear, actionable instructions.

The form allows a one-time transfer from an IRA, but this is subject to strict IRS rules noted in Section 4. People mistakenly attempt to transfer from an ineligible IRA (like a SEP or SIMPLE IRA) or try to make a second lifetime transfer, which will be rejected. It is crucial to understand that this is generally a once-in-a-lifetime option and that the amount transferred counts toward your annual HSA contribution limit. Consulting a tax professional before initiating an IRA transfer is highly recommended.

The form specifically requests only the 'Last 4 digits' of the Social Security Number in Section 1 for identity verification. Providing the full nine-digit SSN is an unnecessary security risk and shows a lack of attention to detail. Always read field labels carefully to provide the exact information requested. Smart form-filling tools like Instafill.ai can help prevent this by automatically validating and formatting data to match the field's requirements.

This form is for a direct trustee-to-trustee 'transfer,' where funds move between institutions without the account holder taking possession. Some individuals first withdraw the funds from their old HSA/IRA themselves and then try to use this form, which is incorrect. That process is a 'rollover' and requires a different form as noted in Section 4. Using the wrong form for your situation will lead to rejection and potential tax consequences if the rollover is not completed correctly within the 60-day IRS window.