Fidelity Investments Rollover Address and IRA Options Explained

Fidelity Investments offers a straightforward rollover process, allowing you to transfer your retirement savings to a new account.

You can choose from several IRA options, including Traditional, Roth, and Rollover IRAs.

To start the rollover process, you'll need to provide your current retirement account information, such as the account number and custodian.

Fidelity Investments has a dedicated team to assist with the rollover process, making it a smooth transition.

A rollover IRA is a retirement account that allows you to move money from your former employer-sponsored plan to an IRA—tax and penalty-free—while keeping your money's tax-deferred status.

To initiate a rollover, you'll need to start the action entitled "Request Distribution", then select the "Rollover" type of distribution, not the cash-out.

You can choose from a Fidelity rollover IRA or a Fidelity Roth IRA, depending on your situation. If you've made only pre-tax contributions, a Fidelity rollover IRA is the way to go. If you've made both pre-tax and post-tax contributions, you'll need a Fidelity rollover IRA for the pre-tax money and a Roth IRA for the post-tax money.

To determine which type of IRA is right for you, consider the following:

Once you've chosen your IRA, you can roll over to Fidelity and consolidate your retirement accounts in one place while continuing tax-deferred growth potential through a wide range of investment options.

To initiate the rollover process with Fidelity Investments, you'll need to start by initiating the rollover. This involves selecting the "Rollover" type of distribution, not the cash-out option.

To do this, you'll need to follow a series of steps, which can be broken down into a simple list:

Once you've completed these steps, your rollover process will be underway.

Choosing the right IRA can be a bit overwhelming, but it's essential to make the right decision for your retirement savings. There are different types of IRAs that cater to different needs, and understanding the differences can help you make an informed choice.

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If you've made only pre-tax contributions in an account such as a 401(k) or 403(b), consider a Fidelity rollover IRA for tax-deferred growth potential. This is a great option for those who want to keep their retirement savings growing without paying taxes until withdrawal.

The type of IRA you choose also depends on the type of contributions you've made. If you've made both pre-tax and post-tax contributions, you'll need to consider a Fidelity rollover IRA for the pre-tax money and a Roth IRA for the post-tax money. This way, you can keep the pre-tax contributions tax-deferred and the post-tax contributions tax-free.

Some people may have made only post-tax contributions, in which case a Fidelity Roth IRA is the way to go. This type of IRA allows you to contribute after-tax dollars and withdraw the money tax-free in retirement.

If you're looking to convert your pre-tax contributions to post-tax contributions, a Fidelity Roth IRA is an option, but be aware that this is a taxable event.

Here's a quick summary of the different IRA options:

By considering your specific situation and needs, you can choose the right IRA for your retirement savings and ensure a secure financial future.

To initiate a Direct Rollover, you'll need to give your 401(k) account servicer the correct address to send the money to.

You don't want to send the money to yourself, as you'll be charged tons of fees and it's not worth it.

Fidelity Investments has a specific address for Direct Rollovers, which is: Fidelity Investments, attn: Direct Rollovers, PO Box 770001, Cincinnati, OH 45277-0037.

Make sure to give this address to your servicer to avoid any issues or extra fees.

If this caught your attention, see: Primary Servicer