Good pt tj.There's no real reason to wait to ACATS shares of stocks ETFs until the end of Dec 2024. You're not losing anything by sending it sooner. If you've decided to send the securities to TradeUp, what difference does it make if it's an extra 2 months or not?Tradeup has a 90 day forfeiture clause, which requires not transferring out until 90 days have passed from the (last?) bonus payment.
If you ACATS in now, the soonest quarter end after the initial 90 day hold is 3/31/25 for the first payment. Then Q2, then Q3. Then hold for 90 days. So essentially after 2025 completes. To optimize a bit, you should ACATS in just before a quarter closes (eg towards, but before end of Dec 2024).
Also, @ potatogun, I had to go back and reread this section:
For example, if a user completes an ACAT transfer of $50,000 and qualifies for a 2% cashback bonus, they will receive a total of $1,000. This amount will be distributed in installments of $350 for the first quarter, $350 for the second quarter, and $300 for the third quarter. If the transfer date is August 15, 2024, the first $350 installment will be distributed on December 31, 2024, with subsequent installments of $350 and $300 distributed on March 31, 2025 and June 30, 2025, respectively.
I think if I’m looking at it and I transfer in whether it’s now or in December, first payment will be at the end of Q1, and then the end of Q2, and then the last at end of Q3. So it looks like it would be a 9 months hold.
And, does anyone have prior experience with tradeup and know if you can assign a beneficiary (intend to elect a TOD designation to trust)?
Statistics: Posted by bbrock — Wed Oct 09, 2024 11:33 pm