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Why should you consider rolling over an old 401(k)?
- Administrative fees may be lower.
- You can simplify your overall financial situation.
- You may find more investment choices that are better for your situation.
- No fees to open or maintain your account other charges may apply 1
- A range of stocks, bonds, ETFs, mutual funds, and CDs to choose from
- Easy access to financial professionals and various investment tools
What are the fees and commissions?
- $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply 1
- Minimum required to open an account: $1,000
- Commissions: $4.95 per online equity trade; 2 $0 per Schwab ETF online trade in your Schwab account 3
What do I get with this Rollover IRA?
Every Schwab account comes with investment help and guidance. With this account, you’ll get:
- A tax-smart way to keep your retirement money invested and avoid early withdrawal penalties
- Hassle-free rollover help from start to finish
- Retirement planning tools and resources in Understanding IRAs
- 24/7 service and support
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.
Quick answers to related questions
Have questions about our Rollover IRA? Here are responses to some of the most common questions we hear. If you have a specific question, please call us at 866-855-9095.
+ How do I open a Rollover IRA?
To open a Rollover IRA on your own, review the Rollover Start Guide below, then open your account online. Or simply call 866-855-9095 and let a Schwab Rollover Consultant take care of the details from start to finish.
+ When can I access my account?
We’ll send you your account number as soon as your application is completed and approved. You can use your account number to log in and manage your account.
+ What kinds of investment choices do I have?
Choose from stocks, bonds, ETFs, mutual funds, CDs, and more. Schwab also offers professional portfolio management solutions that can make investing even easier. As a Schwab client, you can have a complimentary consultation with a Schwab investment professional who can help you decide which investments are right for you. Just give us a call at 866-855-9095. We’re here and happy to help.
+ I’m not sure how to transfer my 401(k) from my former employer. What should I do?
Our team of Rollover Consultants can take care of it for you. Just call 866-855-9095. They’ll open your new Schwab Rollover IRA and will work with your former plan administrator to make sure your retirement savings are rolled to your new account in a timely and tax-free manner 4 .
Rollover Start Guide
A 401(k) rollover is a smart way to take control of your retirement savings. To roll over your old 401(k) or other employer-sponsored plan into a Schwab IRA, simply follow these steps.
Step 1. Open your Schwab Rollover IRA.
- Apply for a Rollover IRA online to get started on your own.
- Call 866-855-9095 to have a 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 by your former employer.
- Decide how you want your retirement assets distributed.
- Ask your 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).”
- For an easy deposit, 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.
- Contact us for guidance on how to make the most of your retirement savings.
- Select from a wide range of investments.
Take the next step.
Call a Schwab Rollover
at 866-855-5636 or
- Find more help at What is a Rollover IRA?
- Get tips on How to Rollover a 401(k).
- See all Schwab accounts.
1. See the Charles Schwab Pricing Guide for Individual Investors (“the Guide”) and any amendments to the Guide for comprehensive details on fees.
2. Restrictions apply: The $ 4.95 commission does not apply to foreign stock transactions, large block trading transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.
3. Restrictions apply: Online trades of Schwab ETFs™ are commission-free at Charles Schwab Co., Inc. (member SIPC), while trades of third-party ETFs are subject to commissions. Broker-assisted and automated phone trades are subject to service charges. A minimum $1,000 deposit is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details. All ETFs are subject to management fees and expenses.
4. Please consult your tax advisor regarding your specific situation.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.
Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with The Charles Schwab Corporation or any of its affiliates.
This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager.