Frequently Asked Questions |
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How long will it take to transfer my accounts? You should expect to receive written confirmation of your transfer initiation within 7 - 10 days from when you mail the form. Once Fidelity receives your paperwork and determines it is in good order, most transfers take 3 - 5 weeks to complete. If you transfer your assets in full, the transaction may be automated and the process may take less time to complete. If you are transferring foreign securities or limited partnerships, the process may take longer. If we need additional information from you, we will contact you either by phone or by mail. Fidelity will make every effort to obtain your assets in a timely manner. The actual transfer time depends in part on how quickly your assets are released by the firm currently holding your investments. In addition, assets from your account may transfer to Fidelity at different times. You may also be responsible for close-out or liquidation fees when you transfer your assets. Please check with the firm holding your assets for information regarding these fees. What does Fidelity mean by proprietary mutual fund? While Fidelity can hold many mutual funds, proprietary mutual funds cannot be transferred. Generally, proprietary funds are offered exclusively by the issuer and cannot be held by other firms. Fidelity FundsNetwork® lists funds which are not proprietary and can be transferred without liquidation. If your fund is not a part of Fidelity FundsNetwork, you may still be able to transfer it. Call Fidelity at 800-544-6666 if you need help determining whether your fund is eligible for transfer. What are the restrictions on transferring retirement assets? A transfer is not a taxable event and does not have to be reported to the IRS. If you are directly rolling over a distribution from an employer-sponsored retirement plan, complete a Fidelity Rollover IRA application online, or download a Fidelity Rollover IRA application. If you wish to transfer the assets of your qualified retirement plan(s) to the Fidelity Retirement Plan, complete this form and contact your tax advisor to determine if it is necessary to file Form 5310-A prior to the transfer. How do I transfer a CD that is maturing in the next three weeks? To avoid the automatic reinvestment of your CD that matures in less than three weeks, Fidelity may be able to help expedite the transfer. Please call us at 800-544-7272 between 8 a.m. and 7 p. m. Eastern time for assistance. |
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