How to Transfer a Traditional IRA from Fidelity to J.P. Morgan

You’ve spent years building your retirement savings, carefully selecting investments that align with your financial goals. But what happens when your current investment platform no longer meets your evolving needs? A traditional IRA transfer might be the strategic move that helps you access better investment options, potentially lower fees, or more personalized financial services.

A direct transfer between financial institutions, such as from Fidelity to J.P. Morgan, allows you to move your IRA without triggering taxes or early withdrawal penalties, as long as the process is handled correctly.

At Carry, we want to make financial decisions feel more manageable — even if you’re handling them outside our platform. This guide breaks down the precise steps to transfer your traditional IRA from Fidelity to J.P. Morgan, ensuring a smooth transition that protects your hard-earned retirement funds from unnecessary taxes or withdrawal penalties. 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: Understanding Your IRA Transfer Landscape

Moving a traditional IRA from Fidelity to J.P. Morgan isn’t complicated, but it does take a little planning. The key is to move the funds in a way that keeps your retirement savings tax-deferred and avoids any penalties.

The best way to do that is through a direct trustee-to-trustee transfer, where the money goes straight from Fidelity to J.P. Morgan without triggering taxes or early withdrawal penalties. By executing this transfer correctly, you protect the long-term growth potential of your retirement savings.

Step 2: Preparing Your Financial Documents

Having the right paperwork ready can help prevent delays. Here’s what you’ll typically need:

✅ Your current Fidelity traditional IRA account number

✅ Government-issued ID (e.g., driver’s license or passport)

✅ Most recent IRA account statement

✅ Contact information for both Fidelity and J.P. Morgan

✅ Social Security Number

✅ Your current mailing address

📝 Pro Tip: Double-check that your personal details match across both accounts. Even a small mismatch can cause a delay.

Step 3: Opening Your J.P. Morgan IRA

Contact J.P. Morgan to open a new traditional IRA that matches your existing Fidelity account type. Confirm they accept trustee-to-trustee transfers and inquire about any specific documentation they require.

✏️ Hypothetical Example: Many providers, including J.P. Morgan, offer an online application that takes around 15–30 minutes to complete. You may be asked to verify your identity during setup.

Step 4: Initiating the Transfer Request

Once your new account is ready, call Fidelity or log in to your account to request a direct,  trustee-to-trustee transfer transfer. You’ll be moving the funds from one provider to another without withdrawing anything yourself.

During the call or online request, confirm:

✅ The full transfer amount

✅ There are no pending trades or restrictions

✅ That you’ll receive a confirmation once it’s processed

📝 Important Note: Always request a written confirmation of your transfer for personal record-keeping.

Step 5: Documenting the Transfer Process

Most transfers between retirement accounts take 5 to 10 business days, but it can take longer if you have more complex investments (like multiple mutual funds).

✏️ Hypothetical Example: If your account includes several types of investments, it may take up to two weeks for everything to settle at J.P. Morgan.

Step 6: Understanding Potential Transfer Fees

It’s important to check with both institutions to understand any fees that may apply to your specific situation.

📝 Pro Tip: Some institutions may waive transfer fees if you maintain a minimum balance or have an existing client relationship.

Step 7: Tax Considerations

A direct trustee-to-trustee transfer between traditional IRAs is not a taxable event, as long as the money goes straight between the accounts. This means:

✏️ Hypothetical Example: If you move your $50,000 IRA directly between providers, it’s not considered income and won’t show up as taxable on your return—just keep documentation to prove it.

Step 8: Final Verification and Confirmation

Once the transfer is processed, check both your old and new accounts:

✅ Make sure the full amount arrived
✅ Check that investments moved over correctly (if transferred in-kind)
✅ Request a final transfer confirmation for your files

Final Thoughts on Your IRA Transfer Journey

Transferring your traditional IRA from Fidelity to J.P. Morgan is a straightforward process when you take the time to prepare. A direct transfer helps preserve your tax-deferred savings and keeps everything compliant with IRS rules.

Here’s what to keep in mind:

✅ Use a direct transfer to avoid taxes or penalties

✅ Gather and double-check all required documents

✅ Track the process and save all confirmations

Next steps:

✅Contact J.P. Morgan to open your new traditional IRA

✅Submit your transfer request through Fidelity

✅Monitor the transfer process closely

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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/).