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Transfer Your IRA

 

3 Simple Steps to Transfer Your IRA

Transferring your IRAFootnote 1 is a convenient and tax-free way to consolidate your investments. The process (also known as a trustee-to-trustee transfer) is simple and we're here to help with award-winning service available 24/7.
1.

Open a Merrill IRA

You can open an IRA online in minutes—just select the same type of account as the IRA that you're transferring (Traditional, Roth, SEP or Simple IRA, for example). Here's what you'll need to open your IRA popup.
Already have an account? Log in to your account
2.

Transfer your IRA assets

Call us 24/7 at 888.637.3343. We'll help you complete the transfer process—all you need is an account statement from your current IRA.
Or once the account is opened, you can complete your transfer with the online transfer tool. You'll need an account name and number from the institution from where you have your current IRA.
Transferring securities from another financial institution typically takes 8-10 business days. There is no fee when you transfer your assets to Merrill.
3.

Start investing

Why Merrill?

Simplified account management—log in once to view and manage your Merrill investment and Bank of America® bank accounts all on one page
Real-time transfers—instantly move funds between your Merrill investment and Bank of America bank accountsFootnote 2
Mobile account Access anytime, anywhere—see your Merrill investment and Bank of America bank accounts online, on your mobile device and at thousands of Bank of America ATMs

Invest with advice when you need it

Invest with a licensed Merrill Financial Advisor, who can help you pursue your financial goals and plan for what matters most to you.
Merrill Edge Self-Directed was named one of the "Best IRA Accounts" by NerdWallet 2021 review.Footnote 3
 

Retirement accounts

Footnote 
Other fees may apply. Sales of EFTs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about Merrill pricing, visit our Pricing page.
Some transfers may result in tax consequences, penalties or financial risk. Consult your tax and financial professionals before requesting a transfer.

Fees and expenses are subject to change. Please note that other fees and expenses may apply, including early withdrawal penalties and trustee transfer fees. For Merrill Lynch, Pierce, Fenner & Smith Incorporated's standard brokerage fees, please see the Miscellaneous Fees schedule. For Bank of America N.A.'s fees, see your Personal Schedule of Fees.

Footnote 1 Did you know that there are two ways to move assets from one IRA to another? The most common is a transfer. This is when you transfer assets from an IRA held at one financial institution to an IRA at another. You may directly transfer assets between investment firms as frequently as you wish. The second, less common approach is called an indirect rollover. Rollovers occur when you withdraw assets from an IRA and then “roll” those assets back into the same IRA or into another one within 60 days. IRS rules limit you to one rollover per client per twelve month period. For more information on rolling over your IRA, 401(k), 403(b) or SEP IRA, visit our rollover page or call a Merrill rollover specialist at 888.637.3343

Footnote 
Certain banking and brokerage accounts may be ineligible for real-time money movement, including but not limited to transfers to/from bank IRAs (CD, Money Market), 529s, Bank of America Advantage SafeBalance Banking™, Credit Cards and transfers from IRAs, Loans (HELOC, LOC, Mortgage) and accounts held in the military bank. Accounts eligible for real-time transfers will be displayed online in the to/from drop down menu on the transfer screen.
Footnote 
Merrill Edge Self-Directed was named by NerdWallet as one of the "Best IRA Accounts", January 2021. NerdWallet evaluates brokers based on investment selection, customer support, account fees, account minimum, trading costs and more. Learn more at Nerdwallet popup. Rankings and recognition from NerdWallet are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
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Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").
Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity


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