Later Match Terms & Conditions

Acorns Later Match
Terms & Conditions

Acorns Advisers’ Later Match Program (“Later 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 Later Account or Later Account has the same meaning assigned to such term in the Program Agreement. There are three (3) different kinds of Later Accounts: (i) Traditional IRA; (ii) Roth IRA; and (iii) SEP IRA. Each Acorns User may have only one Later 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, and not locked, suspended, restricted, or otherwise flagged in any way, in Acorns Grow, Acorns Advisers and/or their Affiliated Entities’ sole discretion. 
   
   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, LLC, specifically includes but is not limited to Acorns Grow, Inc., Acorns Securities, LLC, Acorns Pay, LLC, and GoHenry, Inc.
   
   Annual Contribution Limit means the annual contribution limit determined by the Internal Revenue Service for each taxable year, as applicable to each User’s age and type of Acorns Later Account. More information is available on irs.gov.
   
   Eligible Deposit means new deposits of at least $1.00 deposited into a Later Account through a recurring, one-time, or Paycheck Split contribution, which successfully transfer and settle. A contribution (i) made to an Acorns Later Account through a rollover, transfer, dividend, reward, and/or wire, or (ii) which charges back and/or never settles, is not an Eligible Deposit.
   
   Eligible Deposit Date means the date on which an Acorns User initiates an Eligible Deposit into the User’s Later Account. 
   
   IRA Custodian and Administrator means Forge Trust (f/k/a IRA Services Trust Company).
   
   Match Amount means the amount funded by Acorns Grow and applied to a User’s Later Account subject to the terms and conditions set forth herein.
   
   Match Limit means the maximum dollar Match Amount for each taxable year, which shall be 1% of the Annual Contribution Limit with respect to Users subscribed to the Acorns Silver Subscription Plan and 3% of the Annual Contribution Limit with respect to Users subscribed to the Acorns Gold Subscription Plan. For purposes of Later Match, a SEP IRA Custodial Account shall be subject to the same Match Limit as a Traditional IRA and Roth IRA Custodial Account applicable to the User’s age and the taxable year.
   
   Offer Period is any time after 12:00 PM PT on July 1, 2024, until such time as Acorns Advisers shall end the Offer Period in its sole discretion without notice.
   
   Program Agreement means the Program Agreement, including all Supplements thereto.
   
   Settlement Date is the date when securities are posted to a User’s Later Account and available to trade, in Acorns Advisers’ sole discretion.
   
   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. Before on or about August 21, 2024, Acorns “Silver” was referred to as Acorns “Personal Plus” and Acorns “Gold” was referred to as “Premium.”
   
   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 User who makes an Eligible Deposit to an Acorns Later Account during the Offer Period, Acorns Grow will fund a Match Amount of either 1% or 3% of the value of each Eligible Deposit, as applicable to the User’s Subscription Plan, up to the Match Limit in any given taxable year and subject to a four (4) year Holding Period.
    

3. Match Amount.  
   
   1% Match Amount. A 1% Match Amount of each Eligible Deposit is available, up to the Match Limit, for Users who, during the Offer Period, successfully make an Eligible Deposit and:
   
        a. (i) as of June 30, 2024, are subscribed to the $5 “Silver” Subscription Plan (then known as “Personal Plus”) of the Acorns Platform; (ii) as of July 1, 2024, have not opted-out of the monthly Subscription Fee increase from $5 to $6, which such increase shall take place on the first Fee Date following July 1, 2024; (iii) as of the Eligible Deposit Date, have a Acorns Later Account; and (iv) as of the Eligible Deposit Date, affirmatively opt-in to 1% Later Match in the Application or on the Acorns Website; or
   
        b. (i) on or after July 1, 2024, subscribe to the $6 “Silver” Subscription Plan of the Acorns Platform; and (ii) as of the Eligible Deposit Date, have an Acorns Later Account.
   
   3% Match Amount. A 3% Match Amount of each Eligible Deposit is available, up to the Match Limit for Users who, during the Offer Period, successfully make an Eligible Deposit and:
   
   

        a. (i) as of June 30, 2024, are subscribed to the $9 “Gold” Subscription Plan (then known as “Premium”) of the Acorns Platform; (ii) as of the Eligible Deposit Date, have an Acorns Later Account; and (iii) as of the Eligible Deposit Date, affirmatively opt-in to 3% Later Match in the Application or on the Acorns Website; or
   

   
        b. On or after July 1, 2024 subscribe to the $12 “Gold” Subscription Plan of the Acorns Platform; and (ii) as of the Eligible Deposit Date, have an Acorns Later Account.
   
   Each User can receive only 1% or 3%, respectively, once for each Eligible Deposit. 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.
    

4. Holding Period. Subject to Section 5 herein, Match Amounts are created as of the Settlement Date. As further set forth below, Match Amounts will be forfeited and subject to recapture by Acorns Advisers if, within four (4) years from the Settlement Date: (i) any funds are removed from a User’s applicable Later Account; or (ii) the User downgrades to a Subscription Plan with a lower monthly fee than the Subscription Plan for which the User received the 1% or 3% Match Amount, as applicable (the “Holding Period”).
   
   Removal of Funds. The removal of funds held in a Later Account 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, and subject to recapture by Acorns Advisers or its agents. Except in the case of a deceased User, this forfeiture shall apply to any removal of funds within the Holding Period, including, but not limited to, withdrawal, rollover, transfer, levy, excess contribution, account closure, and/or the chargeback of an otherwise Eligible Deposit. No forfeiture shall apply as a result of change in investment value and/or market fluctuation.  
   
   Change in Subscription Plan. If, within the Holding Period, a User downgrades to a Subscription Plan with a lower monthly fee than the Subscription Plan for which the User received the applicable Match Amount, the User shall forfeit all such Match Amounts received applicable to that Subscription Plan. Accordingly, a User that downgrades from the $12 (or $9, as applicable) “Gold” Subscription Plan to the $6 “Silver” Subscription Plan during the Holding Period shall forfeit 2% of the value of all Eligible Deposits made during such Holding Period, but shall retain the remaining value of Match Amounts received (equal to 1% of the value of all Eligible Deposits). If, within the Holding Period, a User downgrades to a Subscription Plan for which no Match Amount is available, all Match Amounts received shall be forfeited and subject to recapture by Acorns Advisers or its agents.  
   
   

5. Other Forfeiture. To be eligible to participate in Later Match, the User’s Acorns User Account, including all applicable Acorns Managed Accounts and Checking Accounts must, at all times relevant to Later Match and in the sole discretion of Acorns Advisers and/or its Affiliated Entities, remain in good standing, and cannot be locked, suspended, restricted, or otherwise flagged in any way. 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, or 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 Later Match, Acorns Advisers reserves the right to (i) 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 User’s Later 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 terms and conditions.
    

6. No Recommendation. Later Match is not a recommendation of any investment or investment strategy, or a recommendation that any Acorns User rollover or transfer assets into any Later Account. By participating in Later Match, each User represents that none of Acorns Advisers, any of its Affiliated Entities, or the IRA Custodian and Administrator, has recommended any rollover or transfer to any Later Account. Each Acorns User further acknowledges that no Acorns Later Account includes cash-based investments and that this structure may not be appropriate for individuals looking for conservative, cash-based individual retirement accounts. Acorns Advisers, through Later Match, does not intend to provide the benefit of deferred compensation or to create an employee pension benefit plan under ERISA. 
    

7. Tax Treatment. Acorns Advisers processes and treats all Match Amounts as interest earned by the applicable Later Account for tax reporting purposes. The interest earned by the applicable Later Account is not subject to, and does not impact, the maximum annual dollar contribution limit or the maximum annual deductible amount of any Later Account. Match Amounts may be taxable income for conversions of a non-deductible contribution to a Roth IRA Custodial Account. NONE OF ACORNS ADVISERS, ANY OF ITS AFFILIATED ENTITIES, OR THE IRA CUSTODIAN AND ADMINISTRATOR 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 LATER ACCOUNT. PLEASE CONSULT A TAX ADVISOR FOR INDIVIDUALIZED ADVICE.
    

8. Miscellaneous. Acorns Advisers reserves the right to change these terms and conditions and/or to terminate Later Match at any time with or without notice. 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. Later 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.