Yes, you can move your Roth IRA from TIAA to Fidelity through a direct transfer
A direct transfer (also called a trustee-to-trustee transfer) moves money from your TIAA Roth IRA directly to a Fidelity Roth IRA without the money passing through your hands. This is the cleanest route because there are no tax consequences, no reporting complications, and no 60-day important date to meet. TIAA and Fidelity both handle the paperwork on their end.
You can also do an indirect rollover, where TIAA sends you a check and you deposit it into Fidelity within 60 days. This method is riskier — if you miss the important date, the IRS treats the money as a withdrawal and you may owe taxes and penalties. Most people choose the direct transfer to avoid this risk.
Key Takeaways
- A direct transfer from TIAA to Fidelity moves your money without tax consequences or IRS reporting requirements.
- You initiate the transfer by opening a Roth IRA at Fidelity and providing TIAA's account information to Fidelity's transfer team.
- Investments held at TIAA may not exist at Fidelity, so they will be sold and the proceeds transferred as cash.
- An indirect rollover (receiving a check yourself) is possible but carries the risk of missing the 60-day deposit important date and triggering taxes.
- You can move money between Roth IRAs as often as you want without contribution limit consequences, since you are not adding new money to the account.
How to start a direct transfer from TIAA to Fidelity
First, open a Roth IRA at Fidelity if you do not already have one. You can do this online at Fidelity's website or by calling their IRA team. You will need your Social Security number, date of birth, and basic contact information. Fidelity will assign you an account number.
Next, contact TIAA and tell them you want to do a direct transfer to Fidelity. TIAA will ask for your new Fidelity account number and Fidelity's routing information. You can request this transfer by phone, mail, or through TIAA's online portal. TIAA will then send the funds directly to Fidelity's receiving account.
Once Fidelity receives the transfer, the money will sit in a cash settlement account (usually a money market fund) while you decide what to invest it in. You can then buy stocks, mutual funds, or other investments through Fidelity. This waiting period gives you time to research and plan without pressure.
What happens to your investments during the transfer
TIAA may hold mutual funds, annuities, or other products that Fidelity does not offer. When you move your account, TIAA will sell these holdings and send the cash value to Fidelity. You will not be able to transfer the investments themselves — only the dollar amount.
This means you may lock in a gain or loss depending on the current value of your holdings. If a fund has grown significantly, you will receive that higher amount. If it has declined, you will receive the lower amount. Either way, there are no tax consequences because this is a transfer within the Roth IRA system, not a withdrawal.
Before you start the transfer, check what you own at TIAA and whether Fidelity offers similar investments. If you hold a TIAA mutual fund with a 1% expense ratio and Fidelity has a similar fund with a 0.05% expense ratio, you may save money on fees after the move. This is one reason people transfer between custodians.
Timeline and what to expect at each step
| Step | What happens | Timeline |
|---|---|---|
| Open Fidelity Roth IRA | You provide personal information and receive an account number | Same day or next business day |
| Request transfer from TIAA | You contact TIAA with Fidelity's information; TIAA processes the request | 1 to 3 business days |
| TIAA sends funds to Fidelity | TIAA sells your holdings and wires the cash | 3 to 5 business days |
| Money arrives in Fidelity account | Funds land in a cash settlement account; you can now invest | 1 to 2 business days after wire |
| Total elapsed time | From start to investable cash | 5 to 10 business days |
If you are moving a large balance or if TIAA holds complex investments (like annuities), the process may take longer. Call Fidelity's transfer team once you have submitted the request to TIAA — they can often track the transfer and flag any delays.
During this waiting period, your money is not invested and earns little to no interest in the cash settlement account. Once the funds arrive, prioritize moving them into your chosen investments to resume growth toward your retirement goal.
Indirect rollover: the riskier alternative
With an indirect rollover, TIAA sends you a check for your Roth IRA balance. You then deposit that check into your Fidelity Roth IRA within 60 calendar days. The IRS allows one indirect rollover per Roth IRA per 12-month period, so this method works if you have not done a rollover recently.
The main risk is the 60-day important date. If the check arrives on day 1 and you deposit it on day 61, the IRS treats the money as a withdrawal. You would owe income tax on the entire amount (even though it is a Roth account and was already taxed when you contributed it) plus a 10% early withdrawal penalty if you are under 59½. This can cost thousands of dollars in unexpected taxes.
A direct transfer avoids this risk entirely because TIAA and Fidelity handle the timing. There is no 60-day clock, no check to deposit, and no way to miss a important date. For this reason, the IRS and most financial advisors recommend direct transfers over indirect rollovers.
Fees and costs to watch for
TIAA may charge an outgoing transfer fee, typically $25 to $100, depending on your account type and the size of the transfer. Some TIAA accounts waive this fee if you have held the account for a certain number of years or maintain a minimum balance. Call TIAA to ask whether a fee applies to your account.
Fidelity does not charge a fee to receive a transfer. However, if you hold annuities or certain TIAA products with surrender charges, you may owe a penalty when TIAA liquidates them. These charges are separate from the transfer fee and depend on your original contract with TIAA. Review your TIAA account documents or call TIAA to understand any surrender charges before you move.
After the transfer, compare the expense ratios of the investments you plan to buy at Fidelity versus what you paid at TIAA. Lower fees compound over time, so moving to a lower-cost custodian can add up to real savings over decades.
What you need before you start
Gather your TIAA account number and your Social Security number. You will also need to know your Fidelity account number once you open the account there. Have a recent statement from TIAA so you know the current balance and what investments you hold.
If TIAA holds any annuities or special products, pull up your original contract or call TIAA to ask about surrender charges. This will tell you whether liquidating your holdings will trigger penalties. Knowing this upfront prevents surprises when the transfer is underway.
Decide in advance what you want to invest in at Fidelity. You do not have to buy anything when ready — the cash can sit in a money market fund while you research. But having a plan means you can move quickly once the money arrives and avoid sitting in cash longer than necessary.
Frequently Asked Questions
Will I owe taxes when I move my Roth IRA from TIAA to Fidelity?
No. A direct transfer between Roth IRA custodians does not trigger taxes or IRS reporting. The money moves from one Roth account to another Roth account, so the tax-free growth continues uninterrupted. An indirect rollover also avoids taxes as long as you deposit the money within 60 days.
Can I move only part of my TIAA Roth IRA to Fidelity?
Yes. You can request a partial transfer of any amount you choose. TIAA will liquidate only the portion you specify and send that to Fidelity. The remainder stays at TIAA. This is useful if you want to test Fidelity's platform before moving everything, or if you want to keep certain investments at TIAA.
What if TIAA holds an annuity I cannot move?
Some annuities cannot be transferred in-kind to another custodian. TIAA will liquidate the annuity and send you the cash value. If the annuity has a surrender charge, you will owe that penalty. The cash arrives at Fidelity, but you have lost the annuity contract. Review your annuity documents or call TIAA to understand the surrender charge before you move.
How long does the transfer take if I do an indirect rollover?
TIAA typically mails the check within 5 to 10 business days. You then have 60 calendar days from the date TIAA sends the check to deposit it at Fidelity. The 60-day clock starts when TIAA releases the funds, not when you receive the check, so act quickly once it arrives.
Can I move my money back to TIAA if I change my mind?
Yes. You can move your Roth IRA from Fidelity back to TIAA at any time using the same direct transfer process. There is no limit on how many times you can move between custodians. However, check whether TIAA charges a fee to receive incoming transfers, and whether Fidelity charges a fee to send an outgoing transfer.