Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an email. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. The subject line of the email you send will be "Fidelity.com: "

Rollover IRA What to do with an old 401(k)

Have an old 401(k) from a former employer? Let's help you weigh the 4 options to make the right decision for your specific needs.

Open a Rollover IRA

Roll over to Fidelity and consolidate your retirement accounts in one place while continuing tax-deferred growth potential¹ through a wide range of investment options.

Roll over to Fidelity

If allowed, consolidate your 401(k)s into one account with your new employer, continuing tax-deferred growth potential. Investment options vary by plan.²

If your former employer allows, keep your money where it is. You'll continue your tax-deferred growth potential... but can't contribute anymore. Investment options vary by plan.

4. Cash out (and pay taxes)

Any cash you withdraw 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

This example assumes the following: A hypothetical 24% federal marginal income tax rate, a hypothetical 7% state income tax, and a standard 10% penalty for early withdrawal. The penalty is not withheld from the distribution, but rather paid when the employee files their income taxes. This example is for illustrative purposes only. Please note that the 10% early withdrawal penalty does not apply to distributions made to an employee after separation from service after age 55. The withdrawal will still be subject to income taxes.

Rollover overview

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

If you're self-employed

You may be able to roll over to your own small business retirement plan, such as a SEP IRA. Learn more

Investing your IRA

Get help selecting from Fidelity's wide range of investment options. Learn more

Questions?

800-343-3548

Use our Virtual Assistant

Chat

Rollover IRA What to do with an old 401(k)

4 options for your old 401(k)

1. Roll over to Fidelity IRA

2. Roll over to a new workplace plan