xfer roth from td ameritrade to fidelity

[finnski1]

I would like to xfer my wifes' Roth from TD Ameritrade to Fidelity. Is there any tax consequences to this. My thinking is that it will be a simple transfer from one roth to a new one I will open for her at Fidelity.

Am I missing anything. Will the IRS consider it a taxable distribution event?
Just want to consolidate some accounts to Fidelity.

 

[njhowie]

No - no tax consequence for trustee-to-trustee transfer.

When you initiate the transfer and create the new Roth at Fidelity, be especially careful to name/title it identically as it currently is at TD. Any difference and the transfer will likely fail.

 

[finnski1]

No - no tax consequence for trustee-to-trustee transfer.

When you initiate the transfer and create the new Roth at Fidelity, be especially careful to name/title it identically as it currently is at TD. Any difference and the transfer will likely fail.

Thank you. That's what I was thinking. Just want to make sure.

 

[Al18]

This is a tax free event. I would visit Fidelity with your wife to do this conversion - there may be multiple forms that Fidelity needs to be completed.

 

[MarieIG]

It should be straight forward. You should be able to complete the transfer without tax consequences, and at no cost to your DW. You may want to contact Fidelity first and confirm that they would cover any costs associated with the transfer.

I did a test practice, opened up a Roth rollover at Fidelity, and tested it by transferring a tiny bit from my Vanguard Roth to make sure it arrived ok. (There were no problems with the transfer, although I could not reinvest the dividends of the Vanguard MM fund. It had to go into the Fidelity settlement fund.)

 

[HenryD]

OP: Unless you are wanting to move the account specifically before it's migrated from TDA to Schwab, you might want to wait until that's done. For mine, that's less than two weeks away which is within the range of how long the transfer could take.

 

[Ian S]

I did exactly this transaction a few months ago. It was quite straight forward. I would suggest that if the history of that TDAmeritrade Roth account is important to you that you download all its past statements prior to transferring the account to Fidelity. You lose online access to that account through TD once it's transferred and the TD statements/history don't transfer AFAIAA.