Acorns Early Match Terms & Conditions

Updated November 20, 2024

Acorns Advisers’ Early Invest Match Program (“Early Invest Match”) is subject to the terms and conditions set forth herein.  

1. Definitions. When the following capitalized terms are used above or below in these Terms & Conditions, the following definitions apply:

Acorns Advisers means Acorns Advisers, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission.

Acorns Grow means Acorns Grow, Inc. 

Acorns Early Invest Account or Early Invest Account has the same meaning as it does in the Program Agreement. An Acorns User may have more than one Early Invest Account.

Acorns User or User means an individual who has an Acorns User Account with Acorns Grow that allows the User access to the overall account services and Platform, as applicable to the User’s Subscription Plan, and whose account is in Good Standing.

Affiliated Entity means with respect to any entity, any other person or entity that, now or in the future, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such person or entity, and, with respect to Acorns Advisers, specifically includes but is not limited to Acorns Grow, Acorns Securities, LLC, Acorns Pay, LLC, and GoHenry, Inc.

Age of Transfer means the age at which a Beneficiary of an Acorns Early Invest Account becomes the account owner, as determined by factors such as the date of account opening, the Custodian’s state of residence, and the age selected by the Custodian, as applicable. 

Beneficiary means the minor on behalf of whom an Acorns Early Invest Account is established by the Custodian and who will become the owner upon reaching the applicable Age of Transfer. 

Custodian means the Acorns User and accountholder who opens an Acorns Early Invest Account on behalf of a Beneficiary. 

Eligible Deposit means a new deposit of at least $1.00 deposited into an Early Invest Account by the Custodian through a recurring, one-time (including through Round-Ups®), or Paycheck Split contribution, which successfully transfers and settles. A contribution (i) made to an Acorns Early Invest Account through a transfer, dividend, reward, wire, and/or gifting by someone other than the Custodian, or (ii) which charges back and/or never settles, is not an Eligible Deposit. 

Gold Subscription Plan means the Acorns “Gold” Subscription Plan of the Acorns Platform that either: (a) on or before June 30, 2024, Acorns Users subscribed to for $9 per month; or (b) on or after July 1, 2024, Acorns Users subscribed to for $12 per month. 

Good Standing means an account with a verified linked funding source for which all required account opening documentation has been completed, and an account status that is not locked, suspended, or otherwise restricted in any way, in Acorns Advisers and/or its Affiliated Entities’ sole discretion. 

Match Amount means the amount funded by Acorns Grow, up to the Match Limit, applied to an applicable Early Invest Account and subject to the terms and conditions set forth herein.  

Match Limit means the maximum dollar Match Amount for each calendar year for each of a Custodian’s open and active Early Invest Account(s) in Good Standing, which shall be equal to 1% of up to $7,000. 

Offer Period is any time after 12:00 PM PT on October 21, 2024, until such time as Acorns Advisers shall end the Offer Period in its sole discretion with or without notice. 

Program Agreement means the Program Agreement, including all Supplements thereto.

Settlement Date is the date when securities are posted to an applicable Early Invest Account and available to trade, in Acorns Advisers’ sole discretion, which is typically within 3-5 business days of the date an Eligible Deposit is made. 

Subscription Plan has the same meaning as it does in the Program Agreement. Subscription Plan names used herein are for identification and convenience purposes only, and may be changed without notice as set forth in the Program Agreement.

All terms used but not otherwise defined herein have the same meaning as in the Program Agreement. 

2. General. Subject to the terms and conditions set herein, for each Custodian in the Gold Subscription Plan who makes an Eligible Deposit into an Early Invest Account during the Offer Period, Acorns Grow will fund a Match Amount of 1% of the value of each Eligible Deposit, up to the Match Limit in any given calendar year, and subject to a four (4) year Holding Period set forth below. 

3. Match Amount.  A 1% Match Amount of each Eligible Deposit will be created on the Settlement Date and is available, up to the Match Limit, for each Custodian who, during the Offer Period, is subscribed to the Gold Subscription Plan and has one or more open and active Early Invest Account(s) in Good Standing. For clarity, if a Custodian has more than one Early Invest Account, each Early Invest Account is subject to its own Match Limit and corresponding Match Amount. Match Amounts will be rounded up to the nearest whole cent if equal to or greater than $0.015 and rounded down if less than $0.015. Match Amounts which result in a fraction of a dollar smaller than $0.01 will not be awarded. By way of illustration: 

On January 1, a Custodian makes a deposit of $10.00 into its Early Invest Account for Beneficiary A and a deposit of $30.00 into its Early Invest Account for Beneficiary B. On the Settlement Date, a Match Amount of $0.10 will be deposited to the Early Invest Account for Beneficiary A and a Match Amount of $0.30 will be deposited to the Early Invest Account for Beneficiary B. 

4. Holding Period. As set forth below, Match Amounts will be forfeited and subject to recapture by Acorns Advisers if, within four (4) years from the Settlement Date (the “Holding Period”), a Custodian (i) removes funds from an applicable Early Invest Account; or (ii) a downgrades the Custodian’s Subscription Plan. No forfeiture shall apply as a result of change in investment value and/or market fluctuation. 

a. Removal of Funds (pro-rata forfeiture). The removal of any funds held in a Custodian’s applicable Early Invest Account(s) within the Holding Period will result in the pro-rata forfeiture of an amount equal to the corresponding Match Amount that would be received for the amount removed, up to the amount for which a 1% Early Invest Match was received. This Holding Period shall apply to any removal, including, but not limited to, withdrawal, transfer, levy, excess contribution, account closure, and/or the chargeback of an otherwise Eligible Deposit, except that it shall not apply either where the applicable Beneficiary reaches the Age of Transfer or in the case of a deceased Custodian or Beneficiary. By way of illustration: 

A Custodian has $1,000 in an Early Invest Account for Beneficiary A. On January 30, a Custodian makes a deposit of $50.00 into its Early Invest Account and receives a Match Amount of $0.50. On March 30 of the same year, the Custodian withdraws $40.00, resulting in withdrawal of $40.00 and a pro-rata forfeiture of the Match Amount and the Early Invest account balance of $0.40. On April 30 of the same year, the Custodian withdraws $50.00, resulting in a withdrawal of $50.00 and a forfeiture to the remaining Match Amount and the Early Invest account balance of $0.10. 

b. Downgrade of Subscription (complete forfeiture). A Custodian’s downgrade from the Gold Subscription Plan to a Subscription Plan with a lower monthly fee during the Holding Period will result in the forfeiture of all Match Amounts received for all applicable Early Invest Account(s). 

5. Other Forfeiture. To be eligible to participate in Early Invest Match, a Custodian’s Acorns User Account, including all applicable Acorns Managed Accounts and Checking Accounts must, at all times relevant to Early Invest Match and in the sole discretion of Acorns Advisers and/or its Affiliated Entities, remain in Good Standing. In the event Acorns Advisers and/or its Affiliated Entities determine at any time and in their sole discretion that there may have been unauthorized or fraudulent activity related to any account; a violation of the Program Agreement or these terms and conditions; or that an account is otherwise not in Good Standing, whether or not in connection with Early Invest Match, Acorns Advisers reserves the right to (i) delay or decline to grant any Match Amount; and/or (ii) rescind or liquidate any Match Amount already provided and any security or related dollar proceeds derived from such Match Amount(s). While a Match Amount is typically applied to a Custodian’s Early Invest Account as of the Settlement Date, this timeline may be delayed in Acorns Advisers’ sole discretion if, by way of example and not limitation, Acorns Advisers determines or suspects that there are indications of fraud, unauthorized activity, and/or a violation of the Program Agreement or these Early Invest Match terms and conditions.

6. Tax Treatment. Acorns Advisers processes and treats all Match Amounts as awards from Acorns Advisers for tax reporting purposes. NONE OF ACORNS ADVISERS AND/OR ANY OF ITS AFFILIATED ENTITIES PROVIDES TAX ADVICE, AND NOTHING CONTAINED HEREIN PURPORTS TO BE A COMPLETE PRESENTATION OF TAX REGULATIONS THAT MAY BE APPLICABLE TO MATCH AMOUNTS OR ANY EARLY INVEST ACCOUNT. PLEASE CONSULT A TAX ADVISOR FOR INDIVIDUALIZED ADVICE. 

7. Miscellaneous. Participation in Early Invest Match remains at all times subject to the terms and conditions of the Program Agreement, including without limitation the arbitration clause and class action waiver set forth therein. Match Amounts are treated as “Reward Shares” for purposes of the Program Agreement. To the limited extent these express terms and conditions directly conflict with the Program Agreement, these terms shall control. Acorns Advisers reserves the right to change these terms and conditions; to terminate Early Invest Match at any time with or without notice; and/or to modify the terms of Early Match by posting the same to the Acorns Website. Without limiting the foregoing, Acorns Advisers specifically reserves the right in the future to limit the number of Early Invest Account(s) per Custodian that are eligible for the Match Limit and/or to change the Match Limit and corresponding Match Amount offered. Headings in these terms and conditions are descriptive and for convenience only, and do not alter the scope of the rights and obligations created by them. Early Invest Match is not transferable, saleable, or valid in conjunction with certain other offers, and is available only to (i) lawful U.S. residents; or (ii) active Armed Services personnel that maintain a valid U.S. address and are temporarily overseas in connection with their service.

8. Other Disclosures. Note that before (i) on or about August 21, 2024, the “Gold” Subscription Plan was referred to the “Premium” Subscription Tier; and (ii) before November 18, 2024, “Early Invest Match” was referred to as “Early Match.” Only names were changed.