Rollover IRAs

Take a closer look at rollover IRAs.

A simpler way to track and control your retirement funds.

How It Works

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.

You choose how to invest.

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

Dedicated support.

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

The 411 on your 401(k) choices.

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

Roll over to an IRA Leave it Move to your new job’s 401(k) Cash it out

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.

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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.

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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.

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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.

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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 robo 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 Robo Portfolio

0.30%

annual advisory fee
Per contract fee for options

$0.50

Details and Disclosures

Our Commissions and Fees

Standardized Options Disclosure

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

Open an account online.

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

Request a rollover.

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

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.

Get Started

FAQs

We have answers.

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.
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.
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 IRAs

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 use any of our Ally Invest accounts to fund your IRA:
Self-Directed

Robo Portfolios

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 accounts:
IRA High Yield CD

IRA Raise Your Rate CD

IRA 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 going to Investment Transfers and selecting Manage Other Accounts. After you link your bank account, 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. When funding by these methods, be sure to indicate the contribution year on your wire or check so we can properly label your contribution.

Lastly, you can contribute to an IRA by performing a transfer of cash from an existing individual or joint Ally Invest account. If performing a journal from a joint account to an IRA Account, the original IRA Contribution Form will need to be notarized and mailed to Ally Invest. IRA Contribution Form

Still have questions? Visit our Help Center.

Rollover IRAs

What is a rollover IRA?

Reasons to roll over:

Features offered with every Ally Invest IRA.

No annual or monthly maintenance fees.

You choose how to invest.

Dedicated support.

The 411 on your 401(k) choices.

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

Roll over into an IRA

Leave it where it is

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

Cash it out

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

…and won’t hide the fees we do have.

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

Open an account online.

Request a rollover.

Start investing.

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