Transferring an IRA

If you want to move your IRA to Bank of America, we can help you complete your IRA Transfer quickly and easily.

Benefits of Transferring Your IRA

Simplified Management.

It’s easier to track your progress and make more informed investment decisions when your retirement savings are all in one place. And now, when you log on to view your savings or checking account, you’ll be able to view and access your retirement accounts from the same page.

No Fees.

Did you know your company may be charging you to maintain your old 401(k)? Annual custodial and maintenance fees are waived for all our IRAs¹.

Breadth of Investment Choices.

From our comprehensive mutual fund offering of more than 13,000 funds, plus other investment products like stocks, bonds, and ETFs, to bank products such as money market savings and CDs, we offer an array of products that are designed to fit your needs². To review your choices, see Ways to Invest.

Easy access to your money.

When you’re ready to begin taking distributions for your life in retirement, a flexible plan can easily be established for regular distributions at whichever frequency suits your needs.

How Do I Transfer my IRA?

To transfer your IRA:

1. Open an IRA account.
   Make sure it’s the same type of IRA you currently have: Roth, Traditional, or Rollover. If you're looking for more information about our IRAs, see Find the Right IRA.
2. Transfer your assets.
   Once your account is open, you can access our Transfer of Assets form online to move your assets. You’ll need the account name and account number from the institution where you have your current IRA.
   
   Or, simply locate an account statement from your existing IRA and call our Retirement Help Desk at 1.800.774.4724. We’ll help you complete the transfer process quickly and easily.

The process outlined here is for the simplest kind of transfer, called “in kind”. It lets you keep the same diversification, investments and even the same mutual funds you’ve already chosen. Call us with any questions about other types of transfers and which one is best for you.