401(k) Rollover to IRA

Fidelity makes rolling over an old retirement savings plan from a former employer easy for you.

Learn more about the Fidelity Rollover IRA

May be
appropriate for

Individuals who have changed jobs or retired and have left savings in a former employer’s workplace savings plan (i.e., 401(k), 403(b), governmental 457(b))

Tax benefits

A Rollover IRA is a type of Traditional IRA with the same potential tax-deferred growth of savings.

Withdrawals

10% early withdrawal penalty may apply for withdrawals taken prior to age 59½ if no exceptions apply.

Penalty-free withdrawals for qualifying first-time home purchase and certain college expenses

Minimum required distributions (MRDs) starting at age 70½

Investment options Access to a wide range of investments offering growth or income including mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs. Learn more about your investment options.
Support and guidance

One-on-one guidance—in person, online, or over the phone

Research and tools to help you create a long-term plan and choose investments

Account opening and annual maintenance fees

None*

*There is no cost to open and no annual fee for Fidelity's Traditional, Roth, SEP, and Rollover IRAs. A $50 account close out fee may apply. Fund investments held in your account may be subject to management, low balance 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.

Trading fees $4.95 for online U.S. equity trades

Core position

Uninvested cash

Uninvested cash in your account is held in what is known as a core position. Think of your core position as a place where money is held before you invest it or distribute it from your account. For a Rollover IRA, you may choose from one of three core positions:

  • FDIC-Insured Deposit Sweep (if available): An interest-bearing cash position, offering the benefit of FDIC insurance eligibility through a Program Bank. See the current interest rate schedule
  • Fidelity Government Money Market Fund: A Fidelity money market fund; not FDIC insured.
  • Fidelity Government Cash Reserves (only available as a core position after you open your account by calling a representative): A Fidelity money market fund intended for cash awaiting investment only, not as a long-term investment.

Four options for your old 401(k)

Learn about rollovers and other choices for your old 401(k) when you retire or change jobs. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

For additional info, read our Fidelity Viewpoints® article weighing the pros and cons of your options.