How to Transfer a Traditional IRA from Fidelity to Merrill Edge

Transferring a retirement account can feel overwhelming, especially when you’re trying to move to a platform that better fits your goals. What may seem like a simple process can quickly turn into a tangle of forms, tax rules, and confusing rollover terms.

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 each step of transferring your traditional IRA from Fidelity to Merrill Edge, helping you protect your hard-earned retirement savings 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: Understand Your Traditional IRA Transfer

Moving your traditional IRA from Fidelity to Merrill Edge takes a bit of planning, but it doesn’t have to be difficult. The key is to go with a direct transfer—this keeps your retirement savings tax-deferred and avoids early withdrawal penalties.

Merrill Edge supports direct transfers for traditional IRAs, which means you can move the full balance from one provider to the other without creating a taxable event. This method helps protect your savings from potential early withdrawal penalties or taxes.

What You’ll Need

✅ Your Fidelity traditional IRA account number

✅ A valid form of ID (like a driver’s license or passport)

✅ Most recent IRA account statement

✅ Your Social Security Number

✅ Contact details for both Fidelity and Merrill Edge

Step 2: Open a Merrill Edge Rollover IRA

Before you begin the transfer, you’ll need to open a new traditional IRA with Merrill Edge. This account should be specifically designated as a “Rollover IRA” for tracking purposes, but for tax treatment, it’s the same as a traditional IRA.

📝 Note: You can open your Merrill Edge account online or by phone. The process usually takes about 15–20 minutes and involves filling out digital forms.

📝 Pro Tip: Make sure the account type matches your Fidelity IRA—this helps avoid processing delays.

Step 3: Initiate the Transfer Request

There are two ways to start the transfer:

1. Use the online transfer tool on Merrill Edge’s website

2. Fill out a Client Account Transfer Form manually

📝 Note: If you choose the online method, log in to your Merrill Edge account and select “Transfer Assets.” You’ll enter your Fidelity account info and follow the prompts from there.

Step 4: Submit Required Documents

Merrill Edge will likely ask for the following documents to process your transfer:

✅Signed transfer authorization form

✅Copy of your most recent IRA statement

✅Proof of identification

✅Account transfer instructions

📝 Note: Double-check everything before you submit. Even small errors can cause delays that could take weeks.

Step 5: Understand Transfer Timelines

A direct transfer from Fidelity to Merrill Edge usually takes about 5–7 business days. While it’s in progress, try not to make any trades or contributions to your Fidelity account as it could complicate the transfer.

Step 6: Transfer Fees and Costs

It’s always wise to check with both providers, as fees may vary depending on your account type or the specific investments involved.

📝 Important: Some mutual funds held at Fidelity may not be transferable to Merrill Edge. In such cases, you might need to liquidate these assets before the transfer, 

Step 7: Tax Considerations

If done correctly, a direct IRA transfer is not a taxable event. You won’t owe taxes or face early withdrawal penalties. 

Step 8: Final Verification

Once the transfer is complete, verify that:

✅The full balance was transferred
✅ There were no unexpected fees
✅ Your investments were either transferred in-kind or reallocated as expected

Wrapping Up Your IRA Transfer Journey

Transferring a traditional IRA from Fidelity to Merrill Edge doesn’t have to be stressful. The key is planning ahead, double-checking your documents, and choosing a direct transfer to keep everything tax-deferred.

Here’s what to focus on next:

✅ Verify your new Merrill Edge account is set up properly
✅ Complete the transfer forms carefully
✅ Keep an eye on the process and check that everything arrives as expected

Remember: while this guide covers the basics, every investor’s situation is different. When in doubt, reach out to a tax or financial professional for help navigating your options.

📌 Want to dive deeper? Here are some other helpful resource:

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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/).