How to transfer an IRA between providers
Last updated August 2026
Short answer
Two operations look similar and are governed by completely different rules. Choosing the direct one removes every trap in this area at once.
Transfer, not rollover
A trustee-to-trustee transfer moves assets between custodians without the money ever being paid to you.
It is not a distribution, is not reported on a 1099-R as taxable, and is unlimited in frequency.
A 60-day rollover pays you first and requires you to redeposit within 60 days, and only one is permitted per twelve months across all your IRAs.
Starting it
Open the matching account type at the new provider: traditional to traditional, Roth to Roth, SEP to SEP.
Complete the receiving provider's transfer request, which usually needs the old account number and a recent statement.
Registration details must match exactly, since a mismatch in name or account type is the standard reason a request is rejected.
In kind or in cash
In-kind transfers move the securities themselves where both providers can hold them.
Proprietary funds generally have to be liquidated first, and inside an IRA that creates no taxable event at all.
The only cost is time out of the market during the transfer, which is worth minimising by starting when you do not expect to trade.
Try it in Walnut
Walnut connects to your brokerage and reads IRA holdings alongside everything else, so a transfer can be checked against what you expected to arrive.
If you are taking required distributions
From 73, the required amount for the year cannot be rolled over and generally should be taken before a transfer.
The obligation belongs to you rather than to the custodian, so changing provider mid-year does not remove or defer it.
Because IRA balances are aggregated for the calculation, the total can still be satisfied from any of your IRAs afterwards.
Keeping types separate
Traditional, Roth, SEP and SIMPLE balances should each move into the corresponding account type.
Mixing pre-tax and Roth money by accident creates a conversion, which is taxable and awkward to unwind.
A SIMPLE IRA inside its first two years can only move to another SIMPLE IRA, which is a restriction specific to that account.
Afterwards
Confirm the balance and positions match the closing statement from the old provider.
Set beneficiaries on the new account, since designations do not travel with the assets.
If any Form 8606 basis applies to the account, keep those records with the new provider's paperwork so nothing is lost in the move.
Why people move an IRA at all
Fees, most commonly: an account maintenance charge or expensive proprietary funds that a cheaper custodian removes.
Investment access, where the current provider cannot hold what you want.
Consolidation, since several IRAs at several providers make required distributions and pro-rata calculations harder to keep straight than they need to be.
Sources
Transfer and rollover rules, including the one-per-twelve-months limit and the treatment of required distributions, are published by the IRS at Rollovers of retirement plan and IRA distributions, with further detail in Publication 590-A and Publication 590-B. Walnut is informational and is not an investment adviser. This guide is educational and not personalized tax advice.
FAQ
How do I move an IRA to a different provider?
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Open the matching account type at the new provider and request a trustee-to-trustee transfer there. The money moves directly between custodians, is not reported as a distribution, and can be done as often as you like.
What is the difference between a transfer and a rollover?
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A transfer moves money directly between custodians and is unlimited and unreported. A 60-day rollover pays the money to you first and is limited to one per twelve months across all your IRAs. The direct route avoids every complication.
What is the one-per-year rule?
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You may complete only one indirect IRA-to-IRA rollover in any twelve-month period, counted across all your IRAs rather than per account. Breaking it makes the second distribution taxable, and it cannot be undone.
Can I move investments without selling them?
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Where both providers support the same holdings, yes, as an in-kind transfer. Proprietary funds usually have to be sold first, though inside an IRA that creates no tax, which makes this far less consequential than in a taxable account.
Does this affect my required minimum distribution?
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The obligation stays with you. If you are past 73, any distribution due for the year should generally be taken before transferring, since a required amount cannot be rolled over.
Can I transfer a Roth IRA to a traditional one?
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No. Transfers must be between the same account types. Moving from traditional to Roth is a conversion, which is a taxable event and a different transaction entirely.
How long does it take?
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Commonly a week or two, longer if positions must be liquidated or paperwork is involved. The new provider drives the process, so chase them rather than the old one.
Will I be charged?
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The outgoing provider may charge a closing or transfer fee, frequently around $50 to $100. Many receiving providers reimburse it, which is worth asking about before you start.
Why would I move an IRA at all?
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Usually fees, investment access or consolidation. Several IRAs at several providers make required distributions and the pro-rata calculation on conversions harder to track than they need to be, and a single custodian removes that friction.