Rollover IRAs

take a closer look at rollover IRAs.

A simpler way to track and control your retirement funds.


What is a rollover IRA?

A rollover IRA is a retirement account designed so you can move your former employer’s qualified retirement plan, such as a 401(k) or 403(b), into an IRA. Rollover IRAs function the same as traditional IRAs, meaning your funds can grow tax-deferred and your future contributions may be tax deductible.

Reasons to roll over:

  • Never lose track of your old 401(k)s or 403(b)s by consolidating into one IRA

  • Potential to build wealth over time with greater control over your investments

  • Access to a wide range of investment choices

Features offered with every Ally Invest IRA.

No annual or monthly maintenance fees.

Unlike some employer plans, our IRA plans don’t charge maintenance or annual fees.

Your choice of investment options.

Select self-directed trading to manage your own investments, or allow us to do the heavy lifting with a managed portfolio. 

Dedicated support.

Call, chat, or email us. We’re happy to help with whatever you need.

The 411 on your 401(k) options.

When it comes to your old job’s 401(k) or 403(b) plan, you have 4 choices. 

Tab One

Roll over into an IRA

Consider if: You want greater control over your retirement funds. With an IRA you have more autonomy since you’re not bound to the offerings of your employer’s investment plans. And with an Ally Invest Self-Directed Trading account, you call the shots by managing your own trades. 

Tab Two

Leave it where it is

Consider if: You’re in between jobs or doing freelance work. Though your funds can continue to grow tax-deferred, you may have better options with fewer fees elsewhere.

Tab Three

Transfer to your new job’s 401(k) or 403(b)

Consider if: Your new employer’s plan has great investment options. You’ll want to do your research since investment choices and potential costs differ greatly per employer plan.

Tab Four

Cash it out

Consider if: Though immediate access to your cash may be appealing, this option isn’t typically recommended because you’ll likely incur a penalty fee.

Keep in mind, Ally Invest doesn’t provide tax advice. If you have questions regarding your taxes, visit IRS.gov or consult a tax professional.

Ally Invest fees, a short story.

You shouldn't be nickel and dimed for having an Invest IRA. 

We don’t charge for the essentials

  • Annual fee

    $0

  • Monthly maintenance fee

    $0

  • Transfer fee into a rollover IRA

    $0

  • Commission fee on eligible U.S.-listed stocks, ETFs, and options

    $0

  • Advisory fee for cash-enhanced managed portfolios

    0.00%

…and won’t hide the fees we do have.

  • IRA account closure fee

    (charged when all funds are removed)

    $25

  • Full and partial IRA account outgoing transfer fee

    $50

  • Market-focused managed portfolio

    0.30%

    annual advisory fee

  • Per contract fee for options

    $0.50

How to roll over a 401(k) to an Ally Invest Self-Directed Trading account.

Step one

Explore investing with us.

Learn about our Self-Directed Trading account if you haven't already.

Step two

Open an account online.

On Step 1 of the online application, choose IRA, then select either Rollover IRA or Roth IRA if your 401(k) or 403(b) is a Roth account. 

Step three

Request a rollover.

Contact your plan provider and request a transfer through direct rollover or indirect rollover.

Step four

Start investing.

Your funds are ready to invest as soon as they’re rolled over (about 2 weeks). We’ll update your account balance the same day we receive the check. 

Make sure funds are deposited within 60 days to avoid other taxes and penalties. Visit IRS.gov for more information.

FAQs

We have answers.

We don’t charge an annual fee for maintaining an Ally Invest IRA account. There’s a $25 fee for terminating an Ally Invest IRA account, which is charged when all funds are removed from the IRA. If you make a full transfer out of your Ally Invest IRA account, there’s both a $50 transfer fee as well as the previously mentioned $25 termination fee. Partial account transfers have a $50 transfer fee.

Still have questions? Visit our Help Center.

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