Yes, you can move your Roth IRA from TIAA to Fidelity, and it's a straightforward process called a trustee-to-trustee transfer
A trustee-to-trustee transfer moves money directly from TIAA to Fidelity without you touching the funds. This method avoids taxes and penalties that can happen if you withdraw the money yourself. The transfer typically takes 5 to 10 business days, though TIAA sometimes takes longer if your account has certain investments that need to be sold first.
You do not need TIAA's permission to leave, and Fidelity handles most of the paperwork. TIAA may charge a fee to process the transfer — usually $50 to $100 — though some accounts waive this. Fidelity does not charge you to receive the transfer.
Key Takeaways
- Contact Fidelity first and ask them to initiate the transfer; they will request the paperwork from TIAA on your behalf.
- A trustee-to-trustee transfer keeps your money in tax-deferred status and avoids the 60-day rollover window that applies to direct withdrawals.
- TIAA may charge a transfer fee of $50 to $100, and some investments in your account may need to be sold before the transfer completes.
- Once the money arrives at Fidelity, you can invest it in any Roth IRA options Fidelity offers, including stocks, mutual funds, and ETFs.
How to start the transfer with Fidelity
Log into your Fidelity account or call Fidelity at 1-800-343-3548 and tell them you want to move a Roth IRA from TIAA. Fidelity will ask for your TIAA account number and the approximate balance. They will then send a transfer request form to TIAA on your behalf — you do not need to contact TIAA yourself, though you can if you want to confirm the process has started.
Fidelity will also ask which investments you want to transfer. If you want to move everything as-is, say so. If TIAA holds investments that Fidelity does not offer, Fidelity will ask whether you want TIAA to sell them and transfer the cash, or whether you want to keep them at TIAA and transfer only the rest. Most people choose to sell and transfer everything in cash, then reinvest at Fidelity.
What TIAA will do on their end
Once Fidelity's request reaches TIAA, TIAA will verify your identity and process the transfer. TIAA may contact you directly to confirm the request, especially if the account is large or if there are any holds or restrictions on it. This verification step can add a few days to the timeline.
TIAA will deduct any transfer fee from your account before sending the money to Fidelity. If your account holds mutual funds or annuities that take time to liquidate, TIAA may hold the transfer until those sales settle — this can extend the process to two or three weeks. Ask TIAA upfront if your account has any investments that take longer to sell.
Timing and what to expect
The full transfer usually takes 5 to 10 business days from the moment Fidelity submits the request to TIAA. If TIAA needs to sell investments first, add another 5 to 10 days. You will receive a confirmation email from Fidelity once the money arrives in your new Roth IRA account.
During the transfer, your money sits in TIAA's account earning whatever it was earning before. Once it arrives at Fidelity, it will sit in a money market settlement fund until you invest it. You can invest it immediately or wait — there is no deadline to move it into stocks, funds, or other investments.
Tax and penalty rules for trustee-to-trustee transfers
A trustee-to-trustee transfer is not taxable and does not count as a withdrawal. This matters because Roth IRAs have a 60-day rollover rule: if you withdraw money yourself and do not deposit it into another Roth IRA within 60 days, the withdrawal is taxable and you owe a 10% penalty if you are under 59½. A trustee-to-trustee transfer bypasses this rule entirely.
The money stays in Roth IRA status the whole time, so your contribution history and earnings history move with it. If you had made nondeductible contributions to a traditional IRA and converted them to your Roth, that conversion history stays at TIAA and does not affect your new Fidelity account.
What happens to your TIAA account after the transfer
Once the transfer completes, your TIAA Roth IRA account will be empty. TIAA will close it automatically, or you can request closure. You will receive a final statement from TIAA showing the transfer date and amount. Keep this statement for your records — it documents that the transfer happened and can be useful if you ever need to prove the history of your account for tax purposes.
If you have other accounts at TIAA (a traditional IRA, a 403(b), or a brokerage account), those are not affected by moving your Roth IRA. Only the Roth IRA moves to Fidelity.
Reasons people move from TIAA to Fidelity
TIAA is designed for educators and nonprofit workers and offers a limited menu of investments, mostly TIAA's own mutual funds and annuities. Fidelity offers thousands of stocks, ETFs, and mutual funds from any provider, so you have more control over where your money goes. Fidelity's fees are also typically lower than TIAA's for the same types of investments.
Some people move because they left education or nonprofit work and no longer have access to TIAA's full platform. Others move because they want to consolidate multiple retirement accounts in one place. A few move because they want to use a specific investment strategy that TIAA does not support.
Frequently Asked Questions
Will I owe taxes on the transfer?
No. A trustee-to-trustee transfer is not a taxable event. The money moves directly from TIAA to Fidelity without you receiving it, so there is no tax bill and no 10% early withdrawal penalty, even if you are under 59½.
What if TIAA charges a fee and I do not want to pay it?
You can ask TIAA to waive the fee, though they are not required to do so. Some TIAA accounts have fee waivers built in. If TIAA refuses and the fee is large, you can withdraw the money yourself and roll it into Fidelity within 60 days, though this is riskier because you have to meet the 60-day deadline.
Can I move only part of my Roth IRA to Fidelity?
Yes. You can transfer a portion and leave the rest at TIAA. Tell Fidelity the amount you want to move, and they will request that specific amount from TIAA. Your TIAA account will remain open with the balance you did not transfer.
What if I have an annuity at TIAA?
Annuities are more complicated to transfer because they have surrender charges and may not be available at Fidelity. Ask TIAA and Fidelity whether your specific annuity can be transferred. If it cannot, TIAA will liquidate it and send you the cash value, which you can then invest at Fidelity.
Do I need to close my TIAA account before moving my Roth IRA?
No. You can move your Roth IRA without closing any other accounts you have at TIAA. Only the Roth IRA moves. If you want to close your TIAA account entirely, you will need to move or close all your accounts there, not just the Roth IRA.