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 621.
Rated 5 out of 5 by from
Date published: 2016-12-23
Rated 5 out of 5 by from 30+ years of outstanding service, low costs, and reliability Over my working life, I've had 401k accounts with other brokerage/financial institutions. But none have provided the level of service that Charles Schwab has given me for over 3 years. Great customer service, reliable systems, full range of investments, and excellent value.
Date published: 2016-12-22
Rated 5 out of 5 by from easy to navigate At least 15 years of satisfaction
Date published: 2016-12-12
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Date published: 2016-12-12
Rated 5 out of 5 by from MANAGING IRA'S I HAVE HAD IRA'S WITH SCHWAB FOR MANY YEARS AND I AM HAPPY THAT THEY MANAGE THEM TOTALLY..
Date published: 2016-12-10
Rated 5 out of 5 by from Easy of access / Great research Extremely easy to access account information. Very user friendly trading. Generally excellent call-in center assistance is available. Call-in assistance is available 24/7
Date published: 2016-12-09
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Date published: 2016-12-08
Rated 5 out of 5 by from Fantastic website and tools The website is clean, easy to use, and has many great researching tools.
Date published: 2016-12-06
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Clients of independent investment advisors: You may also contact your advisor or call Schwab Alliance at 800-515-2157.