How to transfer funds from TD Ameritrade to Fidelity?
Main Problem:
- The user is seeking guidance on transferring multiple accounts from TD Ameritrade to Fidelity, specifically regarding the transfer process for an Individual Taxable Account, a Rollover IRA, and a Roth IRA.
Solutions Discussed:
- The user can initiate the transfer process for all three accounts, but may need to open new accounts at Fidelity to receive the transferred assets.
- For the Rollover IRA, since it was previously held with Fidelity, the user can follow the normal transfer of assets (TOA) process instead of the specific 401k rollover steps.
- During the transfer of nonretirement and Roth IRAs, the user has the option to either liquidate assets before transfer or move shares in kind, noting that fractional shares cannot be transferred directly.
- Trading authority from the TD account will not carry over; the user must provide authorization through a specific process if they wish to grant trading authority to a third party on their Fidelity account.
Here’s the full thread
Hello!
I have been reviewing this link here on how to “Transfer an account to Fidelity” and have a few questions – https://www.fidelity.com/customer-service/transfer-assets
I have three accounts at TD – Individual Taxable Account, Rollover IRA (401k), and a Roth IRA.
1) Do I have the ability to start the transfer process with all three accounts?
2) Would I need to create a separate Fidelity account for each or will Fidelity take care of this? I already have a Fidelity account but only an Individual Taxable Account
3) Will it be a 1:1 transfer with all my current holdings transferring properly?
4) Although I am the sole owner of my TD account, it is managed by a third party investor- will this affect the transfer process?
Thank you!
Hi @kentarosays , thanks for stopping by our server today. Happy to assist with your transfer questions.
First, that page is a great resource for moving your non-retirement account and Roth IRA. You’ll end up using your existing accounts if you choose to, or you will create new accounts to receive the transferred assets.
The process for transferring a 401(k) or workplace plan is a little different. This page is a step-by-step guide to begin the process. As with the other accounts, it involves opening an account to receive the assets.
401(k) Rollover IRA Steps: https://www.fidelity.com/retirement-ira/401k-rollover-ira-steps
During the transfer process for your nonretirement and Roth IRA, you will generally have the choice to liquidate the assets prior to transfer or to move the shares in kind. Something to keep in mind is that fractional shares are ineligible to be transferred between brokerage firms through the Automated Customer Account Transfer Service (ACATS system). You would have to either sell your fractional shares prior to initiating a transfer, or initiate a full transfer and have the sending firm liquidate and sweep the proceeds of any fractional shares.
Read more about fractional shares here: https://www.fidelity.com/trading/fractional-shares
On your final point, trading authority does not carry over between accounts when making this type of transfer. If you would like to provide trading authority to a third party on a Fidelity account, you can complete that authorization via form or online submission. You can find that information here: https://www.fidelity.com/accounts/services/content/limitta.shtml
I know this was quite a bit of information. Feel free to let us know if any further questions come up. 🟢
Hi @FidelitySean thank you so much for the detailed response.
The Rollover IRA (401k) was actually from my previous employer a long time ago and was held with Fidelity. Then I rolled it over to my TD Ameritrade account after I left the company. Now I want to roll it back to my own account at Fidelity – will I still have to follow the 401k To Rollover IRA steps you provided to me or can I follow the regular transfer assets process since it was already rolled over?
Happy to jump in here, @kentarosays.
If your assets are held in a Rollover IRA at TD, all you’ll need to do is have a Rollover IRA account with us here at Fidelity and follow our normal TOA process. 🟢