How to Transfer a Traditional IRA from Fidelity to T. Rowe Price

If your traditional IRA isn’t aligning with your current goals, it might be time for a change. Transferring your traditional IRA isn’t just paperwork; it’s a strategic step that could help better position your retirement savings. Switching from Fidelity to T. Rowe Price may sound complicated, but with a little planning, the process can be straightforward. 

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 steps to help ensure your retirement funds move securely and tax-efficiently, while keeping your long-term goals in focus. 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 starting the transfer, take a moment to assess your current IRA with Fidelity. Review what you’re invested in, how it’s performing, and whether any assets may require special handling. 

What You’ll Need

✅ Fidelity account number

✅ Latest IRA statement

✅ List of current investments

✅ Clear view of your investment goals

📝 Pro Tip: Take screenshots or save a copy of your current account holdings before you begin. It’s a good way to track what moved and what didn’t.

Step 2: Open a New T. Rowe Price Traditional IRA

Contact T. Rowe Price to open a new Traditional IRA that matches your existing account type. This new account will receive your transferred funds from Fidelity.

During account setup, you’ll need to:

✅Submit personal identification details

✅Complete the online or paper forms provided

✅Verify your identity through their security process

📝 Important: If you’re transferring a $50,000 IRA, ensure your new T. Rowe Price account is set up to support your current investment balance and aligns with your overall retirement strategy.

Step 3: Initiate the Account Transfer

Ask T. Rowe Price to initiate a trustee-to-trustee transfer. This is the most tax-efficient route and keeps your retirement savings intact.

Key steps:

✅Request a “direct rollover” to avoid potential tax complications

✅Provide your Fidelity account details to T. Rowe Price

✅Authorize the transfer through both institution’s platforms as needed. 

📝 Note: Most direct transfers take about 5–7 business days, though some may take a bit longer depending on the assets involved.

Step 4: Gather Necessary Documentation

Having the right paperwork on hand makes the process smoother:

✅ Government-issued photo ID

✅ Social Security Number

✅ Recent IRA statement from Fidelity

✅ T. Rowe Price account information

✅ Completed transfer request forms

📝 Note: If you’re self-employed and your IRA is tied to your business, double-check that your employment records match the IRA registration.

Step 5: Understand Potential Transfer Limitations

Some investment assets might require special handling during transfer:

📝 Pro Tip: Contact both Fidelity and T. Rowe Price ahead of time to know any specific transfer limitations for your current investments.

Step 6: Anticipate Potential Transfer Fees

While both Fidelity and T. Rowe Price generally do not charge fees for transferring assets between accounts, certain fees may apply depending on the specific circumstances of your transfer, such as the type of assets being transferred or the type of account involved. 

It’s advisable to consult with both institutions to understand any potential fees that may apply to your specific situation.

✏️ Hypothetical Example: A $50,000 IRA transfer may cost less than $50 in total fees, depending on the specific investments involved.

Step 7: Tax Considerations

A direct IRA transfer between Traditional IRAs typically:

📝 Important: Always consult a tax professional for personalized guidance on your specific financial situation.

Step 8: Final Transfer Verification

Once the funds move, review both accounts to make sure everything arrived safely.

✅Monitor both Fidelity and T. Rowe Price accounts

✅Confirm total transfer amount matches your original balance

✅Verify all investments transfer correctly

✅Check for any residual balances or pending transactions

📝 Note: If your Fidelity account had $50,000, you should see the same balance reflected at T. Rowe Price within 7–10 business days.

Final Thoughts on Your Traditional IRA Transfer

Transferring your traditional IRA from Fidelity to T. Rowe Price is a smart, strategic move—as long as you take the time to plan it right. A trustee-to-trustee transfer keeps your account tax-deferred and avoids unnecessary penalties.

Here’s what to focus on next:

✅ Verifying all account details before initiating the transfer

✅ Confirming the total transferred balance matches your original account

✅ Keeping detailed documentation of the entire transfer process

This type of move doesn’t need to be stressful. Just stay organized, ask questions when needed, and take your time. If you’re ever unsure, a financial professional can help you make sure you’re on the right track.

📌 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

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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/).