Why Schwab?

Why a Schwab Rollover IRA may be right for you.

We believe you should have options when it comes to saving for your retirement. If you determine it's the right option for your situation, our Rollover IRA can offer convenience and ease, helping you consolidate your 401(k)s from former employers and other accounts to simplify your overall financial situation.

Variety and value

Choose from a wide array of investment options, including stocks, bonds, CDs, ETFs, and mutual funds. We always offer competitive pricing, including $0 ETF commissions,4 no transaction fee for mutual funds,5 low equity commissions, and no account opening or maintenance fees (other account fees, fund expenses, and brokerage commissions may apply).1

Advice and resources

We're here when you need us. A complimentary retirement consultation with a Schwab investment professional can help you figure out where you stand today, how you envision your retirement, and how to get invested–at no extra cost.6 And you can access retirement planning tools and services on Schwab.com, including anywhere/anytime access to your money via the site and our mobile apps.

How it works.

Step 1–Open your Schwab Rollover IRA. Apply online or call 866-855-9095 to have a Schwab Rollover Consultant handle the details for you.

Step 2–Fund your account:

  • Contact your former employer's plan administrator and tell them you want a direct rollover of your plan assets.
  • Complete any forms required.
  • Decide how you want your retirement assets distributed.
  • Ask your former employer to deposit your funds directly into your Schwab Rollover IRA.
    • To prevent funds from being taxed, the check should be made payable to "Charles Schwab & Co., Inc., FBO (Your Name)." Give your employer your Schwab Rollover IRA account number and ask them to include it on the check.
    • Instruct your employer to mail the check to: Charles Schwab & Co., Inc., P.O. Box 628291, Orlando, FL 32862-8291.

If your employer made your rollover distribution check payable to you rather than to Schwab, see our Rollover IRA FAQs to find out what to do.

Step 3–Invest your funds.We can help you select from a wide range of investments to make the most of your retirement savings.

FAQs

  • What is a Rollover IRA?

    A Rollover IRA is an account that allows you to move your assets from a qualified, employer-sponsored retirement plan (such as a 401(k)) by "rolling" them into an IRA. An IRA rollover is one option for preserving the tax-deferred status of your retirement assets, meaning you can avoid current taxes and early withdrawal penalties on payouts you receive from your employer's retirement plan when you change jobs or retire.

  • How do I roll over my 401(k) to an IRA?

    To open a Rollover IRA on your own, you can review the How It Works section above, or call 866-855-9095 and our team of Rollover Consultants will help you take the next step. They will not only assist in the process by working with your former plan's administrator, but also answer any questions you may have and help you determine if a Rollover IRA is appropriate for you.

  • What are my 401(k) rollover options?

    There are five 401(k) rollover options to consider when you've left your company, when you retire, or when you've got one or more old 401(k)s:

    1. Take no action and leave assets in the previous employer's plan,
    2. Roll assets into a new employer's plan,
    3. Roll assets into a Traditional IRA,
    4. Roll assets into a Roth IRA, or
    5. Receive a cash distribution.

    Each option has its own advantages and implications to consider, depending on your current situation and personal financial goals. See schwab.com/rolloveroptions for more complete information.

See more Rollover IRA FAQs

Understanding Rollover IRAs

Need more information? Here are some additional resources to help you make an informed decision about your 401(k) rollover.

Tools

If you'd prefer to make some calculations about your current financial situation before selecting a Rollover IRA, check out these helpful tools.

What clients think about our Individual Retirement Accounts (IRAs):

Individual Retirement Account is rated 4.3 out of 5 by 608.
Rated 5 out of 5 by from I am doing AOK I have been with Schwab for 0ver 30 years. Even before I open Schwab accounts, I knew and was convinced that no broker will be there to make my financial decisions for me. I never wanted them to. So I learned to invest myself. Contrary to common thinking, I don't think I spend lot of time doing it. Even when I was working full time as a busy doctor, I was investing myself. On and of I need some technical advises, I get it from Schwab without any problem. All in all I am very happy I have been with Schwab in the last 30+ years. I have been listening to MR Schwab's advise since the beginning of my investing activities: "have faith in the market."
Date published: 2015-07-04
Rated 5 out of 5 by from myopinions When I started my first Regular IRA at schwab I was told there would be no acct fees. Nearly twenty years later I still have not paid any account fees. I now also have a Roth and an inheirited IRA, and my wife has a Reg IRA, and we still don't pay any maintenance fees on any of them. Pretty Cool. When I started with schwab in ninety three they would provide a newspaper-like catalog for comparing Mutual funds. I really like how they have kept up with technologies year after year, to the point now where I have wonderful reasearch tools and up to the minute access to my account information.
Date published: 2011-02-20
Rated 5 out of 5 by from Easy to understand guildance and advice After having been with several full sevice and many online brokerage firms over the past 40+ years, Charles Schwab's Customer Sevice Team, easy to use web platform, and investment tools are the best of the best. Chuck is fair, honest, and can answer any question quickly. They know how to return a phone call and always follow up to see if you have any additional questions. Their account promotional bonus perks will make any level investor smile. I also love the bill payer and direct deposit features for my Schwab non retirement accounts. Less time running around transferring money for me.
Date published: 2012-12-04
Rated 2 out of 5 by from Attends to the big guy not the small one When I joined 'Schwab,I was with a large company and we got service. The representative was available often. Came by the plant and held meetings and assistance. When I left the company ,I continued with Schwab. They did not continue with me. I lost all contact with them.After a few years I tried to find them to no avail. They moved their offices and I didn't find them. I went to another office and was graciously told that they did not handle my account so, try to make contact with my rep. Even today,i have questions and the only help I can get is the corporate phone contact. I may have avoided many pitfalls if I had some assistance and guidance
Date published: 2011-03-10
Rated 2 out of 5 by from IRA Review Hello, I have had both Rollover and Roth IRA's with Charles Schwab for over a decade and their performance has been less than impressive and even disappointing to say the least. I believe it would be helpful to receive annual feedback from dedicated Schwab professionals who understand the IRA accounts, the current market performance, and available options, etc., in order to receive professional guidance re: longterm preparation for retirement and overall IRA performance and options. This would be very helpful to the average investor and middle class law-abiding American, who only wants to be able to retire comfortably and with confidence. Thank you.
Date published: 2011-12-05
Rated 5 out of 5 by from Exactly what our situation requires. We needed a low-cost setup to manage four self-directed IRA's (two Roth, two traditional). Schwab has met that need for two decades. Our capital accumulation and distribution plans dictate our investment strategy, which we spread across all accounts. Two were subject to "substantially equal payments" withdrawals, so are treated very different from the Roths, whose emphasis is on making payments of deductible and tax expenses. They have served us flawlessly through twenty years of early retirement. And really, we can't ask more than flawless service, tuned precisely to our needs. Combined with the banking arm it has met virtually all our financial needs.
Date published: 2014-08-15
Rated 4 out of 5 by from The Schwab IRA works for me This account serves my needs well. I do not mix "advice" with "account servicing", therefore, it suits me well that Schwab does not tell me what to do but lets me execute my own strategy I base that strategy in part on expert advice that is independent of Schwab. Schwab's account service is professional, flexible, and moderately priced. That enables me to benefit from strategies that involve trading options - such as selling covered calls. Such strategies can be prohibitively expensive if carried out with a "traditional" brokerage house where commissions are far higher than at Schwab and would sharply reduce my gains. Thank you, Schwab!
Date published: 2014-08-15
Rated 1 out of 5 by from Schwab doesn't live up to it's Commercia I'm an average investor who saves every month towards retirement hoping the money will be there when I need it. But Schwab may have better window dressing than the others but does not deliver straight talk it advertises. It's actions are no different from Wall St. in general. twice I've had issues with money not being deposited into the right accounts and staff seem clueless about resolving it, "talks down" to me. Now I believe it's done intentionally to make them money not me. I believe I have about a 50/50 chance my money will be there when I retire but I'm sure Schwab and Wall St. will have there's.
Date published: 2011-06-02
  • y_2016, m_12, d_6, h_3
  • bvseo_bulk, prod_bvrr, vn_bulk_0.0
  • cp_1, bvpage1
  • co_hasreviews, tv_0, tr_608
  • loc_en_US, sid_1003, prod, sort_[SortEntry(order=RELEVANCE, direction=DESCENDING)]
  • clientName_schwab

Choose your IRA:

Trade 3+ times per month? Add free Schwab Trading Services™.More Info

Get free access to Schwab's advanced trading platforms and trading specialists—no trade minimum required.

Continue

We're here to help

Clients of independent investment advisors: You may also contact your advisor or call Schwab Alliance at 800-515-2157.