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Mutual Funds and Mutual Fund Investing - Fidelity Investments

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Learn About IRAs Overview

What to do with an old 401(k)

Have an old 401(k) from a former employer? We can help you weigh your options so you can make the right decision for your specific needs.

Four options regarding your old 401(k)

Read relevant legal disclosures

Roll over to a Fidelity IRA
Roll over to Fidelity and consolidate your retirement accounts in one place while continuing tax-deferred growth potential.¹ You'll get a wide range of investment options including $0 commissions for online US stock trades.*
Roll over to Fidelity now
Roll over to a new workplace plan
If allowed, this option lets you consolidate your 401(k)s into one account while continuing tax-deferred growth potential. Investment options vary by plan.²
Stay in your old workplace plan
If permitted, this option lets you continue tax-deferred growth potential; however, you can no longer contribute to the old plan. Investment options vary by plan.
Cash out
If you withdraw the money from your 401(k) plan, your cash distribution will be subject to state and federal taxes and, before age 59½, a 10% withdrawal penalty may apply.³ Also, your money won't have the potential to continue to grow tax-deferred.

Compare your options side-by-side

Rollover overview

Get more info about our Rollover IRA options as well as step-by-step instructions.

More old 401(k) options

Read this Fidelity Viewpoints^® article on weighing the pros and cons of your options.

Investing your IRA

Get help selecting from Fidelity's wide range of investments.

Open a Rollover

Questions?
800-343-3548

Chat with a Fidelity Representative

Find an Investor Center

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

*

$0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional^® are subject to different commission schedules.

Views expressed are as of the date indicated and may change based on market and other conditions. Unless otherwise noted, the opinions provided are those of the speaker and not necessarily those of Fidelity Investments.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

There are no opening, closing or annual fees for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs. Fund investments held in your account may be subject to management and short-term trading fees, as described in the offering materials. For all securities, see the Fidelity commission schedule (PDF) for trading commission and transaction fee details.

1. Traditional or Rollover IRA

2. The new employer may impose a waiting period.

3. The taxable portion of your withdrawal that is eligible for rollover into an individual retirement account (IRA) or another employer's retirement plan is subject to 20% mandatory federal income tax withholding, unless it is directly rolled over to an IRA or another employer plan. (You may owe more or less when you file your income taxes.) If you are under age 59½, the taxable portion of your withdrawal may also be subject to a 10% early withdrawal penalty, unless you qualify for an exception to this rule. Be sure you understand the tax consequences and your plan’s rules for distributions before you initiate a distribution. You may want to consult your tax advisor about your situation.

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