What is a Rollover IRA?
One way to take control of your retirement savings is to roll over your plan from a former employer.
A Rollover IRA is an account that allows you to move funds from your old employer-sponsored retirement plan into an IRA. With an IRA rollover, you can preserve the tax-deferred status of your retirement assets, without paying current taxes or early withdrawal penalties at the time of transfer. A Rollover IRA can provide a wider range of investment choices that may meet your goals and risk tolerance, including stocks, bonds, CDs, ETFs, and mutual funds.
What can you do with an old 401(k)?
Why combine multiple 401(k) accounts?
- Administrative fees may be lower.
- You can simplify your overall financial situation.
- You may find more investment choices that work for you.
3 Reasons to consider a Schwab Rollover IRA
Pay no annual fees
Unlike most plans, with a Schwab Rollover IRA, there are no account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply.1
Get the help you need
A Schwab Rollover Consultant can assist with all the paperwork, help you transfer your assets from start to finish, and provide expert guidance on your many investing options.
Access 24/7 help and support
Talk to a Schwab investment professional any time for help with your investments.
How to rollover a 401(k)
Start rolling over your 401(k) to an IRA in three easy steps:
StepOpen your Rollover IRA
You can apply on your own online, or consult a Schwab Rollover Consultant to take care of the process for you.
StepFund your account
Be sure that when you distribute your funds, you request a direct rollover to avoid incurring any tax implications.
StepInvest your funds
Compare your current investments with your new range of options to ensure you're set up to meet your financial goals.
- What is the difference between a rollover and a transfer of assets?
- Are there fees associated with a Schwab Rollover IRA?
- What types of retirement plans can I roll over?
- What is the difference between a direct rollover and an indirect rollover?
- What if my employer made my rollover distribution check payable to me, rather than to Schwab?
- I am not sure how to request a rollover from my prior employer. What should I do?
- Am I responsible for tracking my pre- and post-tax rollover contribution amounts?
- Can I make contributions to my Rollover IRA once it is open?
A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances.
Take the next step
Take the next step
Open a Schwab Rollover IRA today. Call 866-855-5636 or
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