Rollover IRA
When changing or leaving a job, a rollover IRA is a convenient, flexible way to take your old 401(k) or other workplace retirement accounts with you, giving you the power to use your money today—and still build for tomorrow— in a single account.
With a broad range of investment options, a Fidelity rollover IRA gives you the choice to invest on your own or have Fidelity invest for you. With both, you'll enjoy the exceptional service, planning and guidance that Fidelity is known for.
Key things to know
| Tax-advantaged opportunity |
You won't pay taxes on potential growth until you make withdrawals—and can still make contributions to the account. What's more, moving money from a former workplace plan to a Fidelity rollover IRA is free from taxes or penalties.1 |
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| Access to your money |
You can take penalty-free withdrawals for certain expenses, such as a first home purchase, birth, adoption, or college expenses. However, a 10% early withdrawal penalty may apply for other withdrawals taken prior to age 59½. |
| Flexibility |
With a rollover IRA, you can generally choose from a wider range of investments than you can in an employer's plan. However, when you reach age 72, you are required to take a certain amount of money out of your rollover IRA each year, called a required minimum distribution (RMD). |
Why you may want to consider other options
There are several choices for what to do with your old 401(k) when you retire or change jobs.
Ready to get started with a rollover IRA?
Ready to get started with a rollover IRA?
Decide whether you want to manage the investments in your IRA or have Fidelity do it for you.
| Fidelity rollover IRA
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Fidelity Go® rollover IRA
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| Investment management |
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| Planning & guidance |
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| Fees |
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Advisory fee4
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Looking for a more hands-on managed approach? You might want to consider Fidelity® Wealth Services for your planning and investment management needs. Minimum investment is $50,000 for access to a team of advisors or $250,000 for a dedicated advisor.5 Learn more |
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How to move your old 401(k) into a rollover IRA
After you open your new account, we can help you navigate through the rollover process with step-by-step instructions.
If there are both pre-tax and post-tax contributions in your 401(k), or you have a Roth 401(k), you might need to open a Roth IRA.* Which IRA should you consider for your rollover?
Don't forget these important steps
For a Fidelity rollover IRA: After you move your money, it's a good idea to make sure it's still invested and aligned with your goals. This is a very important step—investing is how your money has the potential to grow over time.
For a Fidelity Go® rollover IRA or Fidelity® Wealth Services: You don't need to choose or manage your investments—we do that for you based on the information you gave us.
Once your Fidelity Go rollover IRA reaches $25,000, or if you are a Fidelity Wealth Services customer, consider setting up an appointment to review your full financial picture. That's why we're here!
