Retirement accounts aren’t one-size-fits-all. Over time, your financial priorities or preferences might shift—whether you’re seeking different investment options, personalized support, or a platform that better fits your goals.
A direct transfer between providers, such as from Fidelity to Edward Jones, allows you to move your traditional IRA without triggering taxes or early withdrawal penalties, provided it’s done correctly.
At Carry, we want to make financial decisions feel more manageable — even if you’re handling them outside our platform. This guide walks you through the precise steps to complete your IRA transfer smoothly and confidently. Please note that while we try to provide the most up-to-date information, these processes are subject to change without notice, so be sure to check with your provider before moving forward.
Step 1: Understand Your Current IRA Situation
Before making any changes, take a moment to review your existing traditional IRA at Fidelity. It represents years of retirement savings, and transferring it requires careful planning. Look over your balance, the types of investments you hold, and whether there are any restrictions that could affect the transfer.
What You’ll Need
✅ Fidelity Account number
✅ Latest IRA statement
✅ Government-issued ID
✅ Social Security Number
✅ Contact information for both Fidelity and Edward Jones
📝 Tip: Verify that your entire account balance is transferable and there are no pending trades or contributions that could delay or complicate the process.
Step 2: Choose Your Transfer Method
There are two main ways to move your traditional IRA: a direct transfer or an indirect rollover. A direct transfer—where the funds move directly from Fidelity to Edward Jones—is usually the simplest and most reliable method to minimize potential tax complications.
✏️ Hypothetical Example: If your IRA has $50,000, a direct transfer moves it straight to your Edward Jones account without you ever touching the funds.
📝 Important: When done between the same account types, (traditional IRA to traditional IRA), a direct transfer doesn’t trigger taxes or penalties.
Step 3: Contact Your Current Provider
Reach out to Fidelity to let them know you want to transfer your IRA. They’ll walk you through their process and what documents you’ll need. Have your Edward Jones account details ready.
Key info to have on hand:
✅ Edward Jones account number
✅ Edward Jones’ transfer department contact information
✅ Your personal identification details
Step 4: Complete Transfer Paperwork
Edward Jones will need certain forms from you to accept the transfer. These usually include a transfer request that gives them permission to receive the funds from Fidelity.
Documents may include:
✅ Transfer authorization form
✅ Signed paperwork from both providers (if required)
✅ Proof of identity
✅ Most recent IRA statement
📝 Tip: Double-check names, account numbers, and signatures—even small errors can hold up the transfer.
Step 5: Understand Potential Transfer Fees
While both Fidelity and Edward Jones generally do not charge fees for transferring assets between accounts, certain costs may apply depending on the specifics of your transfer—such as the type of assets involved or the account type. It’s advisable to consult with both institutions to understand any fees that may apply to your particular situation.
Fidelity: Fidelity does not charge a fee to transfer assets out of your account. However, a $50 account closure fee may apply if you fully close your IRA.
Edward Jones: Edward Jones does not charge a fee to receive incoming IRA transfers. However, an annual fee of $75 applies to both Traditional and Roth IRAs.
✏️ Hypothetical Example: You might see a $50 administrative charge, which is minor compared to what you’d risk with a taxable rollover.
Step 6: Track Your Transfer Timeline
Transfers between providers like Fidelity and Edward Jones usually take 5 to 10 business days. You can ask for updates or track progress with your new provider.
Estimated timeline:
✅ Initial request: 1-2 business days
✅ Processing at Fidelity: 3-5 business days
✅ Final posting at Edward Jones: 2-3 business days
📝 Tip: Request a transfer confirmation number and save it with your records.
Step 7: Tax Considerations
When done correctly, direct transfers between traditional IRAs are not taxable. Still, it’s smart to hold onto your documentation for year-end reporting or if the IRS ever asks..
📝 Note: Keeping the confirmation and transfer forms on file can be helpful during tax time or an audit.
Step 8: Final Verification
Once the transfer is complete, take time to verify everything.
✅ Check that the full balance transferred
✅ Look for any missed or pending transactions
✅ Confirm that investments transferred
Final Thoughts on Transferring Your Traditional IRA
Transferring a traditional IRA from Fidelity to Edward Jones can be a smooth process when approached with the right information and preparation. A direct transfer helps preserve the tax-deferred status of your retirement savings and avoids unnecessary penalties.
To wrap up:
✅ Verify that both accounts are set up properly
✅ Double-check that the full balance was received
✅ Keep a copy of all documentation and confirmations
Each transfer is unique, so don’t hesitate to reach out to both providers if you have questions along the way. When in doubt, a financial advisor or tax professional can help ensure everything goes according to plan.
📌 If you need any additional guidance, be sure to check out this related article:
How to roll over an old 401(k) to an IRA
Disclaimer:
The Carry Learning Center is operated by The Vibes Company Inc. (“Vibes”) and contains generalized educational content about personal finance topics. While Vibes provides educational content and technology services, all investment advisory services discussed on this website are provided exclusively through its wholly-owned subsidiary, Carry Advisors LLC (“Carry Advisors”), an SEC registered investment adviser. The information contained on the Carry Learning Center should not be construed as personalized investment advice and should not be considered as a solicitation to buy or sell any security or engage in a particular investment, accounting, tax or legal strategy. Vibes is not providing tax, legal, accounting, or investment advice. You should consult with qualified tax, legal, accounting, and investment professionals regarding your specific situation.
The accounts, strategies and/or investments discussed in this material may not be suitable for all investors. All investments involve the risk of loss, and past performance does not guarantee future results. Investment growth or profit is never a guarantee. All statements and opinions included on the Carry Learning Center are intended to be current as of the date of publication but are subject to change without notice.
To access investment advisory services through Carry Advisors, you must be a client of Vibes on an eligible membership plan. For more information about Carry Advisors’ investment advisory services, please see our Form [ADV Part 2A] (https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=916200) brochure and [Form CRS] (https://reports.adviserinfo.sec.gov/crs/crs_323620.pdf) or through the SEC’s website at [www.adviserinfo.sec.gov] (http://www.adviserinfo.sec.gov/).