You can change how your account fees are paid by contacting the Service Team, who will send you a form to update the payment method on file.
How to make the change
To update your payment method, contact the Service Team. They'll provide a form for you to complete and sign electronically confirming the new method. Once the completed form is processed, your fees are billed to the updated method going forward.
When to make the change so it applies this cycle
Your payment method needs to be updated by the last day of the prior month to take effect for the current month. For example, to change the method used for fees charged in April, submit the update no later than March 31. If the change comes in after that cutoff, it applies starting the following month.
Payment methods available
Fees can be paid in a few different ways, so you can pick what fits your strategy:
Cash from your account — the default for new accounts. Uninvested cash in your account is used automatically to cover fees, with no action needed from you. If there isn't enough cash to cover a fee, a portion of your holdings may be sold to settle it.
Credit or debit card — fees are billed to a card instead, which keeps more of your retirement funds available for investing.
Digital assets — you authorize a portion of your cryptocurrency holdings to be sold each month to cover fees, so you won't receive separate invoices as long as those assets are in your account.
Common questions
What happens if there isn't enough cash to cover my fees?
If your account is set to pay from cash and the balance is short, you may receive collection notices, or a portion of your holdings may be sold to settle the outstanding fee. Keeping a payment method current helps you avoid this.
How quickly does a payment-method change take effect?
Updates take effect for the current month only if submitted by the last day of the prior month. After that cutoff, the change applies the following month.
Who do I contact to make the change?
Contact the Service Team to update your payment method. They'll send you the form and confirm once the new method is in place.
Need more support? Contact our Service team
Select "Start a Conversation" from the Chat menu or call us at 1-800-RETIRED