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

Retirement savers often find themselves at a crossroads, wanting to switch investment platforms that better align with their financial goals. Whether you’re seeking lower fees, broader investment options, or a platform that better matches your strategy, transferring a Roth IRA can help keep your retirement plan on track.

Moving your Roth IRA from Fidelity to T. Rowe Price can help you take control of your retirement strategy without risking unnecessary tax consequences. This guide walks you through a direct transfer that preserves your hard-earned savings and investment momentum.

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 Roth IRA Transfer

Transferring a Roth IRA between providers can seem complex, but it’s often a straightforward process with the right approach. A direct trustee-to-trustee transfer moves your retirement funds securely between financial institutions without creating a taxable event or early withdrawal penalties. This means the money moves directly between financial institutions, protecting your retirement savings and maintaining your account’s tax-advantaged status.

What You’ll Need

✅ Your current Fidelity Roth IRA account number

✅ T. Rowe Price account information

✅ Most recent Roth IRA statement

✅ Personal identification documents

✅ Online access to both investment platforms

Step 2: Prepare Your Accounts

Before initiating the transfer:

✅ Open a Roth IRA account at T. Rowe Price
✅ Provide personal identification and funding information
✅ Set up online access for easier monitoring

📝 Note: Most online applications take about 10–15 minutes to complete.

Step 3: Initiating the Transfer

Contact T. Rowe Price to start the transfer process. They typically handle most of the paperwork and coordinate directly with Fidelity. You’ll provide them your existing account details, and they’ll manage the transfer logistics.

Key considerations:

 ✅Request a direct transfer to avoid potential tax complications

 ✅Confirm the transfer method with both financial institutions

 ✅Avoid liquidating investments during the transfer process

Step 4: Documentation and Verification

Gather all necessary documentation before starting the transfer. Prepare the following:

📝 Quick Tip: Take screenshots of your current balances for your personal records before the transfer begins.

Step 5: Understand the Transfer Timeline

Most Roth IRA transfers take approximately 5–7 business days. However, factors such as asset types and institutional processing times can extend the timeline.

✏️ Hypothetical Example: Transfers involving multiple mutual funds or specialized holdings might take up to two weeks.

Step 6: Potential Transfer Fees

Always confirm specific details with both Fidelity and T. Rowe Price to avoid unexpected charges.

Fidelity charges a $50 account closeout fee when you fully close your Roth IRA account.

T. Rowe Price typically does not charge a fee for receiving incoming Roth IRA transfers, however an annual $20 account service fee applies to certain Investor Class accounts with balances below $10,000.

📝 Tip: Always ask if fee reimbursements are available for incoming transfers.

Step 7: Tax Considerations

A properly executed trustee-to-trustee transfer maintains your Roth IRA’s tax-advantaged status. No taxes are due during the transfer, and your contribution history remains intact.

📝 Important Note: Ensure the transfer completes within 60 days to avoid potential tax implications.

Step 8: Final Verification

After the transfer, carefully review your new T. Rowe Price account. Confirm:

📝 Tip: Keep a copy of your final Fidelity statement and your first T. Rowe Price statement showing the completed transfer for your records.

Final Thoughts on Your Roth IRA Transfer

Transferring your Roth IRA from Fidelity to T. Rowe Price is a straightforward process that doesn’t have to be complicated. The most critical elements are executing direct trustee-to-trustee transfer and maintaining your account’s tax-advantaged status.

Remember that proper documentation, timely transfer, and careful verification are key to a smooth transition.

Your next steps should be:

✅ Confirm your new T. Rowe Price account is fully set up

✅ Initiate the transfer through the new custodian

✅ Monitor both accounts and verify that all assets transferred accurately

By following these steps, you can complete your IRA transfer confidently—keeping your long-term retirement strategy on track.

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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/).