Rollover IRA

One way to take control of your retirement savings is to roll over your plan from a former employer.

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Advantages of a Rollover IRA

  • A tax smart way to keep your money invested and avoid withdrawal penalties

    You  can preserve the tax-deferred status of your retirement assets, without paying current taxes or early withdrawal penalties at the time of transfer.

  • Hassle-free rollover help from start to finish

    Our team of Rollover Consultants can take care of it for you.

  • Wide range of investment choices

    Take advantage of an array of investment choices including stocks, bond, CDs, ETFs and mutual funds that may meet your retirement goals and risk tolerance.

Fees and commissions

Open an account with a $0 minimum deposit plus get $0 online listed equity trade commissions3, regardless of your account balance or how often you trade.

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This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager. Depending on the type of account you have, there are different rules for withdrawals, penalties, and distributions.  Please understand these before opening your account.

A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution (taxes and possible withdrawal penalties may apply). Prior to a decision, be sure to understand the benefits and limitations of your available options and consider factors such as differences in investment related expenses, plan or account fees, available investment options, distribution options, legal and creditor protections, the availability of loan provisions, tax treatment, and other concerns specific to your individual circumstances.

Benefits of a Rollover IRA with Schwab

  • Retirement planning tools and resources

    Schwab offers planning resources, calculators and retirement income strategies, to help you plan for the future.

  • Investing insights

    Stay informed with the latest market commentary, insights, and investing ideas from Schwab experts. 

  • Get support 24/7 + convenience of 300+ branches

    Call our financial professionals anytime. Plus get local support at a branch near you.

Rollover Start Guide

Rolling over a 401(k) to an IRA can be a smart way to take control of your retirement savings. To roll over your prior 401(k) or other employer-sponsored plan into a Schwab IRA, simply follow these steps:

  • Step

    Step 1. Open your Schwab Rollover IRA

    • Apply for a Rollover IRA online to get started on your own.
    • Call 866-855-5635 to have a Rollover Consultant handle the details for you.
  • Step

    Step 2. Fund your account

    • Contact your former employer’s plan administrator and tell them you want a direct rollover of your plan assets.
    • Complete any forms required by your former employer.
    • Decide how you want your retirement assets distributed.
    • Ask your employer to deposit your funds directly into your Schwab Rollover IRA.
      • To prevent funds from being taxed, the check should be made payable to "Charles Schwab & Co., Inc., FBO (Your Name)."
      • For an easy deposit, give your employer your Schwab Rollover IRA account number and ask them to include it on the check.
    • Instruct your employer to mail the check to: Charles Schwab & Co., Inc., P.O. Box 628291, Orlando, FL 32862-8291.
    • If your employer made your rollover distribution check payable to you rather than to Schwab, see our Rollover IRA common questions to find out what to do.
  • Step

    Step 3. Invest your funds

Common questions

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