Transferring an IRA to Fidelity
If you already have an IRA, like a traditional, rollover, or Roth IRA that you’d like to move to Fidelity, we can help with the next steps.
How to roll over an old 401(k) to an IRA
A rollover IRA lets you consolidate and manage your old workplace savings accounts, like a 401(k), 403(b), or 457(b), in one place throughout your career. We’ll guide you through the process in three simple steps.
Before you begin, set up the account your funds will roll into
It’s important to roll your funds into an account that’s compatible with your old workplace account to avoid paying taxes or early withdrawal penalties. Because rollovers are irreversible, confirm you’ve chosen the right account(s) before moving your money. Use our chart to match your contribution type with the right IRA(s). You can roll into an existing account or open new ones.
| Your workplace account contributions | Your compatible account type |
| Pre-tax (common with 401(k), 403(b) plans) | Rollover IRA |
| Post-tax (usually called Roth contributions) | Roth IRA |
| Both pre- and post-tax | Both a rollover IRA and Roth IRA |
If you made after-tax contributions to a traditional workplace plan, earnings associated with those contributions may be taxable if they are rolled into a Roth IRA. Please consult a tax advisor about your unique situation.
Step 1: Contact your old workplace plan provider to move your money
To move the old 401(k) or workplace money into your Fidelity IRA, you'll start with the provider of your old workplace plan. Not sure who that provider is? Check your account statements or call your former employer. The next action you'll take depends on whether or not your old provider is Fidelity:
What you’ll need to do first
Start by checking your provider’s website or calling them to see if any forms are required to begin your rollover. You’ll need your Fidelity IRA account number to complete the process. If you have questions—or if you have shares of company stock—call Fidelity at 800-343-3548 for help.
- For forms from your provider that need Fidelity’s signature, please mail them to:
Fidelity Investments
ATTN: Corporate Rollovers Department
100 Crosby Parkway KC1H
Covington, KY 41015-0037
- If a Letter of Acceptance (LOA) from Fidelity is required, you can create one in just minutes and send it to your old provider
Complete your rollover in one place
Start by visiting NetBenefits® to complete your rollover—we’ll walk you through the process.
- Money can be directly transferred to your IRA
- Easy to complete online or by calling Fidelity
- No taxes or penalties to roll over and your assets remain tax-deferred
Step 2: Deposit your money into your Fidelity IRA
There are 2 types of rollovers: a direct rollover—have your old provider send the money directly to us for deposit—or an indirect rollover—have the funds sent to you and deposit them into your IRA yourself.
Direct rollover |
Indirect rollover |
|
| How it works | Funds move directly from one financial institution to another by check (FBO your name) or electronic transfer. | Funds are paid to you first, then you deposit it into your IRA yourself. |
| 60-day rule | Not applicable | Funds must be deposited into your new IRA within 60 days. |
| Tax withholding | No mandatory tax withholding | 20% federal tax withholding typically applies for employer plans like 401(k)s. |
| Costs | $0 | To avoid taxes and penalties, you must redeposit the full amount—including the 20% that was withheld—by covering that portion out of pocket until you recover it when filing your taxes. |
Ways to deposit funds
Whether your rollover is direct or indirect, there are several ways the funds can be deposited into your IRA.
Ways to deposit funds
Whether your rollover is direct or indirect, there are several ways the funds can be deposited into your IRA.
Step 3: Invest the money in your IRA
Your rollover funds will arrive in your Fidelity IRA and be placed in your account’s core position—typically a money market fund used to hold cash and process transactions. To pursue greater long-term growth potential, you’ll need to choose investments for your IRA. If your funds rolled over to an IRA that Fidelity manages for you, such as a Fidelity Go® account, we’ll choose and manage your investments based on the information you provide.
Questions about rollovers?
We can help you find the answers.
You could lose money by investing in a money market fund. An investment in a money market fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Before investing, always read a money market fund’s prospectus for policies specific to that fund.
Investing involves risk, including risk of loss.
Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
Fidelity Go® provides discretionary investment management and, in certain circumstances, nondiscretionary financial planning for a fee.
Advisory services are offered by Strategic Advisers LLC (Strategic Advisers), a registered investment adviser. Brokerage services are provided by Fidelity Brokerage Services LLC (FBS), and custodial and related services are provided by National Financial Services LLC (NFS), each a member of NYSE and SIPC. Strategic Advisers, FBS, and NFS are Fidelity Investments companies.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
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