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An HSA trustee is any bank, credit union or financial institution that administers Health Savings Accounts. Your employer might have an agreement with an HSA trustee, and there might be perks if you use that bank or credit union. Always make sure to ask your employer.

The money is yours. All of the money in the HSA (including any contributions deposited by your employer) remains yours even if you... In other words, an HSA is not a "use-it-or-lose-it" type of account. This is one reason why an HSA can help with retirement savings.

This can be a particularly good option if you would like to leave the funds to a minor. If you leave the account to a trust, the HSA amount becomes taxable income on your final income tax return, and funds pass to the trust for the benefit of the beneficiary.

HealthEquity is a nonbank HSA custodian and one of the largest HSA providers. It's a good choice for customers who need to use their HSA regularly for medical expenses because of the multiple ways available to spend and track the account.

Trustee. A trustee of an HSA must be a bank, an insurance company, a person previously approved by the IRS to be a trustee of an individual retirement account (IRA) or Archer MSA, or any other person approved by the IRS.

Is the Bank a trustee or a custodian of HSA funds? The Bank is a custodian of individual employee HSAs, not a trustee or a plan administrator. As such, the Bank holds and ensures the safekeeping of HSA funds, maintains accurate records, responds to account holder instructions and other responsibilities.

This Custodial Agreement applies to all persons establishing a- Health. Savings Account (HSA) under Section 223(a) of the Internal Revenue. Code (“Code”) exclusively for the purpose of paying or reimbursing. qualified medical expenses of the person and his or her spouse and. dependents.

HealthEquity, Inc. (the “Custodian”) is an Internal Revenue Service (“IRS”) authorized, non-bank trustee (“NBT”) operating as the custodian of health savings accounts (“HSAs”). The Custodian's IRS NBT Authorization Letter is available online (see Quick Links box at https://healthequity.com/legal).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232