How much does each broker charge to transfer an IRA out or close it?

By Kaz · Published 6 October 2026 · How this site checks figures

Summary

Between $0 and $200 per account, on the published fee schedules checked October 6, 2026. Fidelity and Wealthfront list no charge for moving an IRA to another firm; Schwab charges $50 for a full transfer, Merrill Edge $49.95 (with a separate $49.95 IRA closeout fee also listed), E*TRADE and Betterment $75, Vanguard and Robinhood $100, SoFi $100 plus a possible $100 closing fee, and M1 $100 for the transfer plus $100 to close an IRA. Every one of these is a flat dollar amount, so M1's $200 is 0.4% of a $50,000 IRA and 0.04% of a $500,000 one.

The fee schedules side by side

Broker	Full transfer out	Partial transfer out	Separate IRA closing fee	On a $50,000 IRA
Fidelity	$0 ("Transfer of assets")	$0	$0 ("IRA closeout fee")	$0
Wealthfront	$0	$0	None listed	$0
Schwab	$50 per account	$0	None listed	$50 (0.10%)
Merrill Edge (self-directed)	$49.95	$0	$49.95 closeout fee also listed	$49.95 to $99.90
E*TRADE	$75	Not listed	None listed	$75 (0.15%)
Betterment	$75 per account	Not listed	None listed	$75 (0.15%)
Vanguard	$100 for each closure and full transfer	Not listed	Same $100	$100 (0.20%)
Robinhood	$100	$100	None listed	$100 (0.20%)
SoFi	$100 for an outgoing ACAT	$100 (the schedule has one ACAT line)	$100 "IRA closing fee" when the balance drops below $100	$100 to $200 (0.20% to 0.40%)
M1	$100	Not listed	$100 for retirement accounts	$200 (0.40%)

All figures are from each firm's own fee schedule or help page, checked October 6, 2026; Schwab's is its pricing guide effective April 2026. "Not listed" means the page doesn't give a figure, not that the charge is zero. Merrill lists both a full account transfer fee and a closeout fee for IRAs at $49.95 each, and its page doesn't say whether one move triggers both, so the last column shows the range. SoFi's figures are from its standard pricing fee schedule last updated October 1, 2026; it says the closing fee "may be assessed," so the last column shows the range.

Vanguard waives its $100 for clients with at least $5 million in qualifying assets, for Wealth Management clients and for accounts enrolled in its advisory services. M1's own example of a Roth IRA leaving the platform comes to "$100 for the outgoing ACAT + $100 for the IRA closure fee."

How long a cheaper fund takes to pay the fee back

A fee you pay once is easier to compare once it's turned into years. Example: on a $50,000 IRA, holding funds whose expense ratio is 0.10 percentage points lower saves $50 a year. At that rate:

a $50 fee is recovered in 1 year
a $75 fee in 1.5 years
a $100 fee in 2 years
a $200 fee in 4 years

Double the balance or the expense ratio gap and the time halves. On a $5,000 IRA with the same gap, a $100 fee takes 20 years to recover. What a 0.50% expense ratio costs against 0.03% has the longer-run arithmetic.

Who pays it, and whether the new firm covers it

The old firm takes the fee, usually from cash in the account. Robinhood says that if there isn't enough cash, the fee "will instead be debited from your outside brokerage account, contingent on that firm's policies."

The SEC's bulletin on moving an account says the old firm "may charge you a fee to cover the administrative expenses associated with the transfer," that some firms "will charge a 'transfer out' as well as a prorated retirement account custodial fee," and suggests asking the new firm to "waive or reimburse you for any transfer fees." Policies differ. Robinhood says it will reimburse "up to $75" of the old firm's fee on incoming transfers of $7,500 or more. Fidelity says it doesn't charge to bring assets in, "however, your current firm may charge to transfer your assets to us," and its page doesn't offer to cover that charge.

Partial transfers and the account left behind

Fidelity, Wealthfront, Schwab and Merrill Edge list $0 for a partial transfer. Moving all but a small balance avoids a full-transfer fee but keeps the old IRA open, and an open account can carry its own charges. Vanguard, for example, "may charge a $25 annual account service fee," waived if you elect e-delivery of documents. M1 charges a $3 monthly fee on an IRA-only login with under $10,000 in total M1 assets.

Things that don't move

The SEC lists the assets most likely to get stuck: "securities sold exclusively by your old firm," funds not available at the new firm, private-placement limited partnerships, "fractional shares of securities; and bankrupt securities." Those have to be sold, left behind, or delivered to you directly. A standard ACATS transfer takes "approximately three to five business days" once the new firm submits it; outside ACATS, the SEC says up to 30 days isn't unusual.

These fees apply to IRA-to-IRA moves between brokers. A direct rollover out of a 401(k) runs on the plan's rules, not a brokerage fee schedule; the page on rollover IRA fees covers what an IRA charges while you hold it, and the comparison of rollover IRA providers explains why the transfer-out fee belongs on the list before you open an account, not after. To put a yearly percentage fee and a flat fee side by side for your own balance, use the fee calculator.

Sources

Written by Kaz, an independent publisher.
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