How to Transfer a Traditional IRA from Charles Schwab to Edward Jones

Retirement accounts are designed to support long-term financial goals, but your preferences or investment strategy may change over time. You might be considering a move from Charles Schwab to Edward Jones based on available services, advisor support, or portfolio options. Regardless of your reason, transferring a Traditional IRA between providers is a standard process that can be completed with careful planning and attention to detail.

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 Edward Jones 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: Get Your Traditional IRA Transfer Plan Ready

Transferring a Traditional IRA from Charles Schwab to Edward Jones requires strategic planning and careful execution. Planning ahead can help ensure a smooth process while maintaining the tax-advantaged status of your retirement account.

What You’ll Need:

✅ Charles Schwab Traditional IRA account number

✅ Edward Jones new IRA account number

✅ Government-issued photo ID

✅ Most recent IRA statement from Charles Schwab

✅ Social Security Number

✅ Contact information for both financial institutions

Step 2: Select a Transfer Method

When moving your Traditional IRA, you have two primary transfer methods: direct and indirect rollovers. A direct rollover  is typically the preferred option, as it minimizes risk and simplifies the process.

Benefits of a Direct Rollover:

✅ Avoids potential tax withholding

✅ Reduces the chance of early withdrawal penalties

✅ Transfers funds directly between institutions

✏️ Hypothetical Example:  Charles Schwab Traditional IRA has a $50,000 balance, a direct transfer allows the full amount to move to your Edward Jones IRA without you receiving the funds.

Step 3: Contact Your Current Provider

Reach out to Charles Schwab to facilitate the transfer process. You’ll need to provide your new Edward Jones account details and confirm your identity. Their representatives can walk you through any additional steps required on their end.

📝 Pro Tip: For personalized support, call Charles Schwab’s Rollover Consultant at 866-855-5635.

Step 4: Complete Transfer Authorization Forms

Edward Jones will provide transfer forms that you’ll need to complete. These may include:

✅ Transfer authorization document

✅ IRA registration information

✅ Signature verification

✏️ Hypothetical Example: Both institutions will review the completed form to confirm all details before processing your request.

Step 5: Understand Potential Transfer Costs

Charles Schwab typically charges a $50 fee for fully closing an IRA, while partial transfers are often free. Edward Jones generally does not charge a fee for incoming transfers, but it’s best to confirm with both providers.

Step 6: Understand Tax Considerations

As long as you choose a direct transfer between Traditional IRAs, your transaction should not be considered taxable. However, timing and method are crucial to maintaining your tax-advantaged status.

Key Reminders:

✅ Stick with direct transfers when possible to avoid unexpected tax liabilities

✅ Confirm account types match (Traditional to Traditional)

✅ Indirect rollovers must be completed within 60 days

✅ Consult a tax advisor if unsure

Step 7: Know What to Expect

Transfers between IRA providers usually take 5 to 10 business days, depending on processing times and account complexity.

✏️ Hypothetical Example: If you initiate the transfer on a Monday, expect completion by the following week.

Step 8: Verify the Transfer

Once the transfer is finalized, review your Edward Jones IRA to ensure:

✅ The full balance was transferred
✅ No unexpected fees were charged
✅ Investment selections are correct, or reallocated as planned

📌 If you need any additional guidance, be sure to check out these related articles:

Final Thoughts on Transferring Your Traditional IRA

Transferring a Traditional IRA from Charles Schwab to Edward Jones requires careful attention to detail and a clear understanding of each step. Key elements include selecting the appropriate transfer method, completing all necessary documentation, and ensuring the transfer is completed within the 60-day window to maintain the account’s tax-advantaged status.

Direct rollovers are typically the most reliable option, as it helps avoid unnecessary tax implications and simplifies the overall process.

Next steps to keep in mind:

✅ Gather all required account documentation
✅ Confirm transfer instructions with both Charles Schwab and Edward Jones
✅ Double-check account numbers and personal information for accuracy
❌ Avoid taking personal possession of the funds to prevent potential tax withholding

📌 Want to dive deeper? Here are some other helpful (and free) resources:

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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/).