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Choose the WellsTrade® IRA That Best Meets Your Needs

A WellsTrade account opened online comes with Brokerage Cash Services, which give you convenient money-movement options such as online money transfers between your Wells Fargo accounts and mobile check deposits using your smartphone. You can also visit the tellers at Wells Fargo branches and make deposits, which are processed through an associated limited-purpose Wells Fargo Bank account in your name.

Traditional IRA
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Roth IRA
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Contributions. Annual contributions to a Traditional IRA may be tax-deductible, and potential earnings grow tax-deferred until distributed.

Rollovers*. Traditional IRAs accept eligible rollover contributions of before and after-tax assets from qualified employer sponsored plans (QRPs) like 401(k), 403(b), or 457(b) plans.

Transfers. Traditional IRAs accept transfers from other Traditional SEP, and (after two years) SIMPLE IRAs.

Contributions. Annual contributions to a Roth IRA are not tax-deductible, but potential earnings grow tax-deferred and may be tax-free when distributed.

Rollovers*. Roth IRAs accept eligible rollover conversions of after-tax assets from QRPs. The rollover conversion of after-tax assets would not be a taxable event. Designated QRP Roth account assets can also be rolled to a Roth IRA.

Transfers. Roth IRAs accept transfers from other Roth IRAs.

Conversions. A Roth IRA conversion occurs when you take savings from a Traditional, SEP or SIMPLE IRA or employer-sponsored retirement plan and move them to a Roth IRA. At the time of conversion you will pay the appropriate taxes due on any before-tax dollars converted, you will not owe tax on any after-tax amount; the 10% IRS tax penalty does not apply. The benefits of tax-free income in retirement may justify the conversion. Be sure to talk to your tax advisor to discuss your specific situation before you decide to convert from a Traditional IRA or a pre-tax qualified employer plan.

Open a Traditional IRA

Open a Roth IRA

*Please keep in mind that rolling over assets to an IRA is just one of multiple options for your retirement plan. Each option has different advantages, disadvantages, investment options, and fees and expenses which should be understood and carefully considered. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with employer-sponsored retirement plans. We recommend you consult with your current plan administrator before making any decisions regarding your retirement assets.