How to Transfer a Traditional IRA from Charles Schwab to Wells Fargo Advisors

Retirement accounts aren’t static investments—they should evolve alongside your financial goals. If you’re considering moving your Traditional IRA from Charles Schwab to Wells Fargo Advisors, the process can be straightforward with the right planning. Whether you’re looking for more personalized financial guidance or a different range of investment options, following the proper steps can help ensure a smooth and tax-efficient transition.

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 Wells Fargo Advisors 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 IRA Transfer Preparation

Transferring a Traditional IRA from Charles Schwab to Wells Fargo Advisors involves detailed coordination to help ensure a smooth, tax-free process. The goal is to preserve the tax-deferred status of your retirement funds by using the proper transfer method and providing accurate documentation.

What You’ll Need

✅ Your current Charles Schwab Traditional IRA account number

✅ Valid government-issued photo ID

✅ Social Security Number

✅ Most recent IRA statement

✅ Personal contact information

✅ Employment details

📝 Note: Ensure your personal information is consistent across both institutions to prevent delays.

Step 2: Select Your Transfer Method

There are three main options for moving your IRA, but the direct rollover is typically the safest and most efficient method.

Transfer Options:

1. Direct Rollover: Funds are sent directly from Charles Schwab to Wells Fargo Advisors

2. Indirect Rollover: You receive the funds and must redeposit them within 60 days

3. Check Transfer: A check is issued to Wells Fargo Advisors for deposit into your new IRA

✏️ Hypothetical Example: A $50,000 direct rollover moves the full amount directly to Wells Fargo without incurring tax withholding or penalties.

Step 3: Initiate the Transfer Process

Contact Wells Fargo Advisors at 1-877-493-4727 to begin. A representative will help you initiate the transfer and complete the necessary forms.

Information You’ll Need to Provide:

📝 Note: Confirm that personal details match exactly to avoid processing issues.

Step 4: Complete Required Paperwork

Fill out the IRA transfer authorization form from Wells Fargo Advisors carefully.

Verification Checklist

✅ Confirm correct spelling of your name

✅ Match your Social Security number

✅ Ensure current address is accurate

✅ Clearly indicate full or partial transfer and asset handling preferences

Step 5: Understand Transfer Costs

Most providers do not charge for transfers, but it’s important to double-check.

✅ Charles Schwab typically does not charge for partial transfers but there may be a $50 account closure fee for full transfers
✅ Wells Fargo Advisors typically does not charge a transfer-in fee

✏️ Hypothetical Example: If you’re transferring $75,000, no transfer fees should apply unless you close the Charles Schwab account entirely.

Step 6: Consider Tax Implications

While direct rollovers between Traditional IRAs are generally tax-neutral, indirect rollovers require careful management. You must deposit funds into the new account within 60 days to avoid potential taxes and early withdrawal penalties.

✅ Direct rollovers between Traditional IRAs are not taxable
❌ Indirect rollovers require redeposit within 60 days to avoid taxes and possible penalties
✅ You’re limited to one indirect rollover per 12-month period

📝 Tip: Consult with a tax advisor to make sure your transfer strategy fits your overall financial plan.

Step 7: Monitor Transfer Timeline

Traditional IRA transfers typically take 5-10 business days, depending on asset type and processing times. Both Charles Schwab and Wells Fargo Advisors will provide tracking mechanisms to help you monitor the transfer’s progress.

📝 Note: Ask both providers for transfer confirmation numbers and keep all documentation for your records.

Step 8: Final Verification

Once the transfer is complete:

✅ Confirm that the transferred amount matches your expectation

✅ Check that all requested assets arrived correctly

✅ Ensure no unexpected fees were assessed

📝 Tip: Review beneficiary information and investment allocations after the transfer to ensure everything is aligned with your current goals.

📌 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 Wells Fargo Advisors is a straightforward process that requires careful attention to detail. The most important steps include opening a new IRA, collecting the required documentation, and opting for a direct transfer to help avoid tax consequences and penalties.

While most transfers are fee-free, accuracy matters at every stage. Make sure to:

✅ Verify that your personal information matches across both providers

✅ Complete all required paperwork accurately

✅ Consult with a tax advisor to confirm any potential tax considerations based on your specific situation

With the right steps in place, you can transition your retirement account with confidence and continue working toward your long-term financial goals.

📌 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.

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