How does the ACATS transfer work for IRAs?

Here’s a bit more information about the ACATS transfer process for IRA accounts to Ellevest.

What securities are Goldman Sachs Custody Solutions unable to custody in my IRA?

Goldman Sachs Custody Solutions is unable to custody securities that include proprietary or load mutual funds, money market funds, bonds, foreign securities, unit investment trusts and CD’s.

If Goldman Sachs Custody Solutions receives any money market funds, they will automatically liquidate the funds. For any other securities on this list, they will send them back to your current provider for liquidation. Please note that this will delay the transfer process, so if you have securities that Goldman Sachs Custody Solutions cannot custody, please have them liquidated prior to initiating the transfer.

When will Goldman Sachs Custody Solutions liquidate securities from my transfer?

When your securities arrive at Goldman Sachs Custody Solutions, Ellevest will instruct Goldman Sachs Custody Solutions to sell any security that cannot be used to create an Ellevest diversified portfolio for you at market. If you’re holding company stock or any securities that you feel requires a particular trading strategy, you should sell these securities before bringing them to Ellevest.