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 4.211920529801325 out of 5 by 604.
Rated 5 out of 5 by from
Date published: 2016-09-12
Rated 4 out of 5 by from Linking IRA account to external accounts I was broaching the time in retirement where I i was at a point in my retirement where i want to take out monthly income distibution to an external account. I first went to the money link to set up the new account. When I tried on line it wouldn't let me link online. So I tried chat. The agent told me I had to set up via a form and fax back. She sent me the IRA distribution form which I started filling out but it was looking for specific distribution information which I wasn't ready with. So I called schwab, the agent on the phone walked through the steps of connecting the IRA account with the external account I already set up (via my spouses account). That seemed to be the problem is the account is associated to the profile. So now set up and I can either do one time or recurring distributions also indicating taxes to be withheld.
Date published: 2016-09-07
Rated 5 out of 5 by from Roth IRA Several years ago we decided to move some of our regular IRA money into Roth IRAs. We completed the transaction over a period of several years to spread out the taxes. The process was simple and now we have a portion of our retirement money that has been growing tax free and will be available for when we need it. The taxes on our RMDs are now lower because we reduced their value but kept and increased our IRA savings.
Date published: 2016-09-06
Rated 5 out of 5 by from IRA conversion to Roth IRA I decided to roll over a couple of holding in an IRA account over to a Roth IRA for the current tax year. I contacted my local Schwab financial advisor who helped guide me through the process. I think in future tax years I'll be able to do this on my own, but I very much appreciated the personal assistance from Schwab for this 'first time' conversion.
Date published: 2016-09-06
Rated 4 out of 5 by from There are a lot of products avalable stock, wide range of mutual funds, bonds, CDs
Date published: 2016-09-06
Rated 5 out of 5 by from Resolved a problem with my tax return While putting my taxes together for the previous year, I discovered to my horror that my wife and I contributed to her IRA when she was not eligible to make a contribution. I immediately called a Schwab IRA representative to find out what I needed to do to remedy this gross error on my part. We were on the phone for over 30 minutes and he expertly and clearly explained what needed to be done and the steps I needed to take to resolve the over payment to my wife's IRA. Those 30 some odd minutes immediately calmed my nerves and I was now confident this problem with our tax return could be easily resolved.
Date published: 2016-09-04
Rated 5 out of 5 by from Great Service I have been with Schwab probably for about 40 years and I've always had a great experience with them. I always felt that they really cared about me and my money and weren't just trying to sell me something. Over the years I've learned so much about investing from Schwab, for which I thank them very much.
Date published: 2016-09-02
Rated 5 out of 5 by from Super Service I wanted to consolidate my IRA's and needed to transfer two to Schwab. It was so easy. Filled out the forms and they took it from there. Great job
Date published: 2016-09-02
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We're here to help

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