Rollover IRAs

In an IRA, you can trade stocks, ETFs, mutual funds, and fixed income products such as bonds or CDs. Because industry regulations prohibit IRA accounts from having margin, short selling and selling naked options aren't allowed.

You may also be able to make up to Level 3 option trades in your IRA. Depending on your approval level, you may be able to use strategies such as: covered calls, cash-secured puts, long puts and calls, spreads, and other multi-leg strategies. Review our Option Account Agreement and Application (PDF) to learn more about our requirements for trading options at Ally Invest.

An IRA Rollover is the movement of assets from a qualified retirement plan, like a 401(k) plan or 403(b) plan, to an IRA such as an Ally Bank IRA or Ally Invest IRA. Rollovers could be subject to tax consequences. Consult your tax advisor regarding frequency of rolling over funds.

An IRA Transfer moves funds directly from the trustee or custodian at another institution to the institution of your choice. For example, from a traditional IRA at your other bank into your Ally Traditional IRA.

Learn more about the different ways to move your retirement money around and about converting one type of IRA plan to another, such as traditional to Roth. You can also visit IRS.gov for more information on rollovers, transfers, and conversions.

Traditional IRA: An Individual Retirement Account (IRA) allows investors to deposit income, up to a specific annual maximum, toward investments that can grow tax-deferred (no capital gains or dividend income is taxed). Contributions to a traditional IRA may be tax deductible depending on the taxpayer's income, tax-filing status, and other factors. Learn more about traditional IRAs

Roth IRA: A Roth IRA is a retirement account in which contributions are not tax deductible (contributions are made with post-tax dollars). Roth IRAs do allow for tax exempt distributions. Learn more about Roth IRA

Rollover IRA: A rollover IRA is a retirement account designed to facilitate the movement of holdings from a corporate retirement plan, such as a 401(k) plan. The rollover IRA is interchangeable with a traditional IRA. Contributions may be tax deductible depending on the client's income level. Learn more about rollover IRAs

You can fund your IRA using any of our Ally Invest accounts:

• Self-Directed

• Robo Portfolio

• Personal Advice

If you're closer to retirement, you may want to consider one of our Ally Bank IRA options instead. They're FDIC-insured and better suited for the shorter term with more consistent returns.

We offer the following Ally Bank IRA accounts:

• IRA High Yield CD

• IRA Raise Your Rate CD

• IRA Online Savings Account

The easiest way to fund an IRA is through a bank (ACH) transfer. Once you open an account, you can link your bank account to your Ally Invest account by selecting Transfers and then Linked Bank Accounts. After you link your accounts, you can make contributions any time you want or set up an automatically recurring contribution.

You can also fund your IRA through a bank wire or by sending us a check. If you choose one of these methods, make sure you include the contribution year on your wire or check so we can properly label your contribution.

Lastly, you can do a cash transfer from an existing individual or joint Ally Invest account. If you choose to transfer from a joint account to an IRA, call us to get an IRA Journal Request Form. Once you fill it out, you’ll need to get it notarized and then mail it to Ally Invest.