How to Transfer an IRA From Another Institution

To make it easier to manage your retirement savings, consider transferring your IRAs from other institutions into one IRA. Here's how it's done:

Step 1 – Choose an IRA

  • Decide which IRA you need to open: Traditional or Roth IRA,
  • Then, determine how you would like to work with Wells Fargo: choose the type of IRA account.
  • If you need help call us at 1-877-493-4727.

Step 2 — Transfer cash and/or assets from your other financial institution

There are two ways to transfer your funds:

Trustee-to-Trustee Transfer — You can transfer cash and in many cases, you can transfer your existing investments directly into your new account.
  • Moving assets from one financial institution to another without liquidating (selling) the investments is called a "transfer-in-kind." In most cases, your existing investments (for example, stocks or mutual funds), can be transferred-in-kind to your new account.
  • In some cases, your assets may need to be liquidated before they can be transferred. A Wells Fargo retirement professional can help review your situation and assist in the account transfer process.
  • There are no taxes or IRS reporting for this method.
  • You can make an unlimited number of trustee-to-trustee direct transfers per year.
60-day IRA-to-IRA rollover — Have a check made out directly to you with no tax withheld.
  • You will have 60 calendar days to deposit the check into your new IRA to avoid taxes and penalties.
  • Rollovers must be completed no later than the 60th day after the day you receive the distribution.
  • Keep in mind that this 60-day IRA-to-IRA rollover is reported to the IRS and is only allowed once every 365 days. This limitation applies to you, the IRA owner, on an aggregate basis for all Traditional, Roth, SEP and SIMPLE IRAs that you have under your social security number. The 365 day time limit begins the day you receive the IRA distribution.
  • This is a tax reportable event.  Any amount not rolled over in 60-days will be taxed and you may also owe the 10% additional tax for early or pre-59 1/2 distributions.

Step 3 — Decide how to invest your funds

Once the funds are deposited into your new IRA, you can allocate (or reallocate) the funds within your account.

  • Choose the investments that make the most sense for your unique goals and situation.
  • Contact us for help creating an investment allocation tailored to your needs.

We are here to help you transfer your IRA. To get started, contact a Wells Fargo retirement professional today.

We’re here to help

Call us 1-877-493-4727

Take the first steps

Our retirement tools and calculators can help you get started, understand your choices, and take small, manageable steps toward your retirement goals.

Investment and Insurance Products are:
  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.

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Existing Wells Fargo IRAs

Assistance with existing accounts including contributions, rollovers, and distributions

Retirement Help and IRA Management


New IRAs and Rollovers

Open an IRA or roll over old 401(k), 403(b), or 457 plans to a new IRA

1-877-493-4727

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Disclosures

  • When considering transferring IRA assets from your IRA to a new IRA, key factors that should be considered and compared between the IRAs include fees and expenses, services offered, and investment options. You should consult with the IRA trustee/custodian and a professional tax advisor before making any decisions regarding your retirement assets.

  • Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.

  • Information published by Wells Fargo Bank, N.A., Wells Fargo Advisors, or one of its affiliates as part of this website is published in the United States and is intended only for persons in the United States.

  • Wells Fargo Bank, N.A. ("the Bank") offers various banking, advisory, fiduciary and custody products and services, including discretionary portfolio management. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, may be paid an ongoing or one-time referral fee in relation to clients referred to the Bank. In these instances, the Bank is responsible for the day-to-day management of any referred accounts.

  • Wells Fargo Bank, N.A. is a bank affiliate of Wells Fargo & Company.

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