Retirement accounts aren’t set in stone, and transferring your Traditional IRA can be a strategic move to better align with your financial goals. Whether you’re reconsidering Charles Schwab’s fee structure or are drawn to the investment tools offered by Chase You Invest, a properly executed transfer can help you transition without triggering taxes or penalties.
At Carry, we want to make financial decisions feel more manageable, even if you’re handling them outside our platform. This guide breaks down the steps to transfer your Traditional IRA from Charles Schwab to Chase You Invest smoothly and penalty-free. 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
Transferring a Traditional IRA from Charles Schwab to Chase You Invest requires careful planning and attention to detail. This process involves moving your retirement funds between financial institutions while preserving the tax-advantaged status of your account. Knowing the right steps helps you avoid potential penalties and ensures a smooth transition.
What You’ll Need
✅ Charles Schwab Traditional IRA account number
✅ Government-issued photo ID
✅ Most recent IRA statement from Charles Schwab
✅ Chase You Invest account information
✅ Personal contact details
Step 2: Choose Your Transfer Method
There are two primary ways to move your Traditional IRA: direct rollover and indirect rollover. A direct rollover is typically the safest and most tax-efficient option. In this method, funds are transferred directly from Charles Schwab to Chase You Invest without you handling the money.
✏️ Hypothetical Example: If your current Traditional IRA at Charles Schwab has $50,000, a direct transfer would move the full amount to Chase You Invest without triggering taxes or penalties.
Step 3: Initiating the Transfer Process
Contact Chase You Invest to start the transfer. They will provide you with an IRA Transfer Form that requires information about your existing Charles Schwab account. You’ll need to authorize the transaction and specify whether you’re transferring the full balance or a partial amount.
Key Transfer Considerations:
✅ Confirm all account numbers and personal information are correct
✅ Double-check the transfer amount
✅ Make sure both accounts are of the same type (Traditional IRA to Traditional IRA)
Step 4: Documentation and Verification
Prepare the necessary documents before submitting your transfer request. This includes:
✅ Proof of identification
✅ Recent account statements
✅ Completed transfer request forms
📝 Tip: Keep copies of all submitted documents for your personal records.
Step 5: Understand Transfer Timelines
Most IRA transfers are completed within 5–10 business days, depending on the institutions involved. Charles Schwab typically processes requests promptly, but overall timing may vary.
✏️ Hypothetical Example: A transfer initiated on a Monday could be finalized by the end of the following week, with funds visible in your Chase You Invest account.
Step 6: Potential Transfer Fees
Charles Schwab charges a $50 fee if you completely empty the account. Partial transfers are typically free. Chase You Invest generally does not charge a fee for incoming IRA transfers.
📝 Note: Always verify current fee policies with both providers before initiating the transfer.
Step 7: Tax Considerations
Traditional IRA transfers between similar account types are typically tax-neutral when completed correctly. However, improper handling could trigger unexpected tax obligations. Ensure the transfer occurs as a direct rollover to maintain the tax-deferred status of your retirement funds.
📝 Tip: Consult a tax professional if you’re unsure about your tax situation.
Step 8: Final Transfer Verification
After initiating the transfer, monitor both your Charles Schwab and Chase You Invest accounts. Confirm the full amount has transferred correctly and that no unexpected charges or complications arise.
📌 If you’re looking for more guidance, these resources may help:
Final Thoughts on IRA Transfers
Transferring a Traditional IRA from Charles Schwab to Chase You Invest requires close attention to detail and a structured approach. The process includes several important steps—selecting the appropriate transfer method, gathering documentation, and understanding potential tax consequences.
Key takeaways include choosing a direct custodian-to-custodian transfer to help avoid taxes and penalties, preparing all required forms and identification in advance, and double-checking account details with both institutions to ensure a smooth transition.
Next steps for investors include:
✅ Collecting recent IRA account statements
✅ Contacting Chase You Invest to initiate the transfer
✅ Verifying all account information is accurate
❌ Avoiding any actions that could trigger unexpected tax consequences
📌 Want to dive deeper? Here are some other helpful (and free) 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/).