As your financial goals evolve, it’s not uncommon to consider moving your retirement account to a different provider. Whether you’re consolidating accounts or adjusting your investment approach, transferring a Traditional IRA can help keep your savings aligned with your long-term strategy.
Moving your traditional IRA from Fidelity to Wells Fargo Advisors doesn’t have to be a stressful experience. This guide walks you through each step of transferring your retirement funds securely, ensuring you protect your hard-earned savings and avoid unnecessary tax complications.
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.
Step 1: Understand Your Transfer Landscape
Transferring a Traditional IRA between two financial institutions requires a few important steps, but it’s entirely manageable with the right preparation. The goal is to move your funds while maintaining their tax-deferred status and avoiding penalties.
Key things to check before you start:
✅ The account type matches (Traditional IRA to Traditional IRA)
✅ You’re using a direct transfer method to avoid tax issues
✅ Your current investments are eligible to transfer
Step 2: PrepareYour Accounts
Before initiating the transfer, you’ll need to open a new Traditional IRA with Wells Fargo Advisors. This new account will receive the funds from your Fidelity IRA.
What you may need to provide:
✅ Valid government-issued identification
✅ Social Security Number
✅ Current Fidelity IRA account details
✅ Proof of current address
✅ Employment information
📝 Pro tip: Double-check that all personal information matches exactly between your current and new accounts to prevent transfer delays.
Step 3: Initiate the Transfer
Contact Wells Fargo Advisors retirement specialists at 1-877-493-4727 to start the transfer process. They will guide you through completing the necessary transfer authorization forms.
✏️ Hypothetical Example: Sarah contacted Wells Fargo Advisors, provided her Fidelity account information, and received a transfer packet within two business days.
Common transfer options:
✅ Direct transfer (recommended)
❌ Rollover method (requires extra steps)
❌ Indirect transfer (least recommended due to tax risks)
Step 4: Complete the Transfer Paperwork
Fill out the transfer authorization form provided by Wells Fargo Advisors. This document will include:
✅ Your Fidelity account details
✅ Your new Wells Fargo Advisors account number
✅ Instructions for the transfer (full or partial, cash or in-kind)
✅ Your signature and date
📝 Note: Accuracy matters—even small errors can delay your transfer.
Step 5: Understanding Potential Costs
Fidelity does not charge a fee to transfer assets out of your account. However, a $50 account closeout fee may apply if you fully close your IRA.
Wells Fargo Advisors does not charge a fee specifically for receiving incoming IRA transfers. However, they may charge an annual custodial fee of $125 per IRA account, which may be potentially waived based on account balances or other criteria.
Step 6: Understand the Transfer Timeline
Transfers usually take 5–7 business days, though it may vary depending on:
✅ How complete your paperwork is
✅ How quickly both institutions process requests
✅ Whether the assets transfer in-kind or as cash
Step 7: Keep Taxes Out of It
When done as a direct transfer between Traditional IRAs, this process is generally tax-free and penalty-free.
Key points to remember:
✅No tax withholding required
✅Maintains tax-deferred status
✅No early withdrawal penalties
✅Must complete transfer within 60 days to avoid taxation
📝 Tip: For complex cases or large accounts, consider checking in with a tax professional for personalized advice.
Step 8: Verify Everything
Once your transfer is complete:
✅ Check that your full balance arrived
✅ Review your new investment allocations
✅ Confirm there were no fees or tax withholdings
✅ Keep records of all transfer documentation for future reference
Final Thoughts on Your IRA Transfer Journey
Transferring a traditional IRA from Fidelity to Wells Fargo Advisors is a strategic process that requires careful attention to detail. As long as you stick with a direct transfer, ensure your paperwork is accurate, and monitor your account activity, you’ll avoid any potential disruptions or tax complications.
Here’s what to focus on next:
✅ Double-check your account types match
✅ Complete all required transfer forms carefully
✅ Track your transfer over the next 5–7 business days
Financial institutions have systems in place to make these transitions as smooth as possible. Just take your time, stay organized, and reach out to support teams if you have questions.
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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/).