Sometimes your investment needs change, and so does the platform that works best for you. Whether you’re looking for different investment options, a fresh strategy, or simply a provider that feels like a better fit, moving your traditional IRA can be part of that shift.
Transferring your IRA is a straightforward process, and when done correctly, it helps you avoid taxes and early withdrawal penalties. At Carry, we want to make financial decisions feel more manageable, even if you’re handling them outside our platform. 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.
This guide walks you through the steps for a smooth, direct transfer from Fidelity to TIAA, so you can keep your retirement savings on track without unnecessary headaches.
Step 1: Understand Your Traditional IRA Transfer Basics
Transferring a traditional IRA from Fidelity to TIAA is a process that requires a few clear steps, but it doesn’t have to feel overwhelming. The goal is to move your retirement savings without triggering taxes or early withdrawal penalties, and the best way to do that is through a direct transfer between the two institutions.
What You’ll Need
✅ Your Fidelity traditional IRA account number
✅ A government-issued photo ID (driver’s license or passport)
✅ Most recent IRA statement from Fidelity
✅ Basic personal contact information
✅ Social Security Number
✅ Bank account details for verification purposes, if needed
Step 2: Open Your TIAA Traditional IRA Account
Before anything can be transferred, you’ll need to open a traditional IRA with TIAA. You can call them directly at (800) 842-2252 and speak with a representative who can guide you through the process and help you choose the right type of IRA.
✏️ Hypothetical Example: If you’re a 35-year-old professional consolidating accounts, make sure your new TIAA IRA matches the structure of your Fidelity account to avoid delays.
Step 3: Initiate the Transfer Process
Once your TIAA account is open, it’s time to reach out to Fidelity. You can usually start the transfer online or by phone. Just let them know you want to directly transfer your IRA to TIAA This keeps everything tax-deferred and penalty-free.
📝 Important Tip: Be sure to request a direct (trustee-to-trustee) transfer to avoid tax withholding or early withdrawal issues.
Step 4: Complete Transfer Documentation
TIAA will give you a transfer request form, which needs details from your Fidelity account. Take your time with this part. Make sure everything matches exactly between the two accounts.
✏️ Real Example: Verify that the name on your Fidelity account matches exactly with the name you’ll use on the TIAA account to prevent processing delays.
Step 5: Understand Potential Transfer Fees
It’s always wise to check with both providers, as fees may vary depending on your account type or the specific investments involved.
Fidelity: Fidelity does not charge a fee to transfer assets out of your account. However, a $50 account close-out fee may apply if you close your IRA entirely.
TIAA: TIAA typically does not charge a fee to receive incoming IRA transfers nor annual account maintenance fees for IRA accounts.
Step 6: Consider Tax Implications
A direct IRA transfer like this one typically won’t trigger any taxes. But every situation is different, so it’s smart to check in with a tax advisor if you have questions.
✅ No tax consequences if done correctly
✅ No early withdrawal penalties
✅ Your retirement savings continue growing tax-deferred
Step 7: Track Your Transfer Timeline
Transfers like this usually take 5–10 business days, but depending on the institutions and assets involved, it could take a little longer—sometimes up to six weeks.
📝 Tip: Keep a record of your transfer confirmation, and follow up with both providers to ensure smooth completion.
Step 8: Final Verification
Once the transfer is complete, log in to both accounts to confirm everything’s in place:
✅ Full balance was received
✅ No partial transfers or missing assets
✅ No unexpected fees
📝 Reminder: Save a copy of all your transfer forms and confirmations. They’ll be helpful come tax time, or in case you ever need to double-check the details later.
Wrapping Up Your Traditional IRA Transfer Journey
Moving your traditional IRA from Fidelity to TIAA isn’t complicated, but it does take a little planning and attention to detail. The most important thing is to use a direct transfer to keep your account tax-deferred and penalty-free.
Here’s what to keep in mind as you wrap things up:
✅ Double-check that your new TIAA account is set up correctly
✅ Request the transfer using the direct (trustee-to-trustee) method
✅ Keep an eye on the process and follow up if needed
Once everything is complete, save all your documents and confirmation emails. They’re handy for your records and can help with taxes later on.
📌 Want to dive deeper? Here are some other helpful resources:
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/).