Trustee to Trustee Transfers (ACATs)
We’re excited to announce the launch of retirement accounts here at Public! If you’re looking to bring a retirement account to Public, we offer two options for transferring your retirement account(s) to Public: (1) Trustee-to-Trustee transfers and (2) Rollovers.
A Rollover also allows you to move a retirement account, while also changing the type of retirement account. For more information on this, please review our FAQ on Rollovers.
A Trustee-to-Trustee transfer (ACAT) allows you to transfer one retirement account to another retirement account of the same type. This is the preferred transfer method when the account types are the same.
At Public we currently offer Traditional and Roth IRAs - if you have one of these types of retirement accounts at another firm, you would be eligible for a Trustee-to-Trustee transfer to Public.
I have a Traditional or Roth IRA at another firm, how do I move it to Public?
Initiating a Trustee-to-Trustee transfer is easy and you can be initiated directly from the app.
To get a transfer started:
Select the menu icon (3 lines) on it in the top left corner
Scroll down and select 'Transfer accounts to Public'
From there, you will need to input your account details, including the approximate value of the account, the firm it is held at, and the account number. You may also be prompted to log in to the account via our partner, Plaid, to easily link the account you would like to transfer.
Most importantly, you will need to select the type of account you wish to transfer - Traditional IRA or Roth IRA.
Make sure to have a PDF copy of your Account Statement from your other firm on hand, as that may be required during the transfer process.
Please keep in mind that retirement accounts at Public may not support some asset classes, such as mutual funds and cryptocurrency. If your retirement account holds any incompatible assets, they may be liquidated upon a full transfer depending on the sending firm's policy or may be set to “sell-only” at Public
Do I Have to Transfer Everything?
Nope! When moving your retirement account to your Public account, you can request a Full Transfer or a Partial Transfer.
A Full Transfer will move your entire account over to Public: any whole share amounts will transfer over.
A Partial Transfer will allow you to specify a list of the stocks and share amounts you intend to transfer over to Public.
If you need any additional assistance with your Trustee-to-Trustee transfer, you can always contact our support team via email at support@public.com, or via chat in the Help Center.
This information is for educational purposes only and is not tax or investment advice. Consult your tax advisor for individual considerations. All investing involves risk. Visit the IRS website for more information.