How to Transfer a Traditional IRA from Fidelity to Acorns

Retirement accounts aren’t static investments – they should grow and adapt with your financial goals. Many investors find themselves wanting to switch platforms when they discover new tools or investment strategies that better match their long-term plans.

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.

Moving a traditional IRA from Fidelity to Acorns can provide access to different investment approaches and potentially lower management fees, giving you more control over your retirement savings strategy.

Step 1: Verify Your IRA Transfer Eligibility

Before you start moving your IRA, make sure everything checks out on both sides. First, confirm that both institutions accept Traditional IRA transfers. Fidelity supports outgoing transfers, and Acorns accepts incoming rollovers so you’re good to go, but it’s always smart to confirm.

Here’s what you’ll need:

✅ Your current Fidelity Traditional IRA account details

✅ Social Security Number

✅ Government-issued photo ID

✅ Most recent IRA statement

✅ Active Acorns Later account

Step 2: Open Your Acorns Later Account

If you haven’t already, open a Traditional IRA through Acorns Later. The signup is done online and includes the usual steps: sharing your personal info and verifying your identity.

📝 Note: Make sure all your personal information matches exactly between your Fidelity and Acorns accounts. Even small differences (like using a nickname on one) can delay the transfer.

Step 3: Initiate the Transfer Process

You’ve got two options when it comes to moving your IRA:

1. Direct Transfer: Contact Acorns customer support to start a direct transfer

2. Indirect Rollover: Request a distribution from Fidelity and deposit funds into Acorns within 60 days

✏️ Hypothetical Example: John called Acorns’ support and requested a direct transfer of his $25,000 IRA—keeping things simple and tax-free.

📝 Tip: Direct transfers are generally safer and easier—you don’t have to worry about the 60-day rule or triggering a tax event.

Step 4: Prepare Required Documentation

Gather these critical documents for a smooth transfer:

✅ Most recent IRA statement from Fidelity

✅ Completed transfer request form

✅ Proof of identity (e.g., driver’s license)

✅ Acorns account details

📝 Tip: Keep both digital and physical copies of everything for your records.

Step 5: Understand Transfer Timelines

Typically, a Traditional IRA transfer takes 5-7 business days but it can vary depending on:

✏️ Real Example: Sarah’s transfer from Fidelity to Acorns wrapped up in 6 business days thanks to complete, accurate documentation.

Step 6: Evaluate Potential Transfer Fees

It’s advisable to consult with both institutions to understand any potential fees that may apply to your specific situation.

Fidelity does not charge a fee to transfer assets out of your account, but a $50 fee may apply if you fully close your IRA. 

Transferring a Traditional IRA from Fidelity to Acorns typically does not incur transfer-in fees at Acorns. However, Acorns may charge a $3 monthly subscription fee for its services, which includes the management of your IRA account. 

Step 7: Consider Tax Implications

Transferring between Traditional IRAs is generally a non-taxable event, but mistakes can be costly. Here’s how to stay safe:

✅Stick to a direct transfer (Traditional to Traditional)

✅Complete transfer within 60 days to avoid tax penalties

✅ Keep a record of everything in case the IRS asks questions later

📝 Reminder: Improper transfers can trigger unexpected tax consequences. Not sure what applies to your situation? Reach out to a tax professional just to be sure.

Step 8: Final Transfer Verification

Once your funds have landed at Acorns:

✅ Log in and verify the total balance transferred

✅ Make sure your investment preferences are set up properly

✅ Check that there were no unexpected fees or missing funds

✅ Keep transfer confirmation documents for your records

✏️ Hypothetical Example: Mark checked his Acorns account and confirmed the full $30,000 transfer from his Fidelity Traditional IRA within one week.

Final Thoughts on Transferring Your Traditional IRA

Switching your Traditional IRA from Fidelity to Acorns is a smart move when you’re looking for a different approach to managing your retirement savings. The process is typically simple, but success comes down to the details.

Here’s what matters most:

✅ Go with a direct transfer to avoid tax headaches
✅ Make sure your account types and information match
✅ Keep records and track everything until it’s complete

Your next steps:

✅ Confirm your Acorns Later account is active
✅ Gather your Fidelity documents and ID
✅ Initiate the transfer through Acorns support or their secure platform

📝 Final Tip: Everyone’s financial picture is different. If you’re unsure about the tax side, timelines, or investment strategy—talking to a financial or tax advisor is always a good move.

📌 Want to dive deeper? Here are some other helpful 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/).