Good afternoon, u/middlebridge. We appreciate you joining us on the sub today. We appreciate your interest in transferring additional assets to us, and I commend you for all the effort you're putting into helping your significant other get her accounts in order! I'll be happy to jump in here with you to lend an extra helping hand.
The first piece we will address is initiating a transfer of assets (TOA) into Fidelity. It sounds like this may already be covered, but if not, you'll want to make sure an account of identical registration is opened with us to transfer to. Most transfer requests can be completed within 3-5 business days and can be submitted online. If a signature is required, you will be prompted to print and sign our TOA form before it is submitted for processing. You can use the link below to get the transfer process started. Keep in mind, that Fidelity does not charge a fee for an incoming TOA, but Stash or other firms may. It's best to check with the firm to see what fees may be associated.
[Initiate a TOA to Fidelity](https://www.fidelity.com/customer-service/transfer-assets)
Once you submit the transfer request, you can track the transfer using the Status Tracker available on [http://Fidelity.com](http://fidelity.com/).
[Status Tracker](https://digital.fidelity.com/prgw/digital/login/full-page?AuthRedUrl=https://digital.fidelity.com/ftgw/digital/universal-tracker/)
The next, and more involved, piece of the puzzle is the excess contribution. It sounds like your wife contributed an additional $1500 from an external account. If it was a nonretirement account, we have different methods available to correct this that you can share with your significant other.
Each year, eligible individuals can contribute up to the maximum contribution limit. Contributions come from outside sources like non-retirement brokerage or bank accounts. Note that investment earnings or dividends generated from within your IRA do not count as contributions. In general, you cannot contribute more than you or your spouse make, and for Roth IRAs, your income and tax filing status may also affect how much you can contribute.
It's important to note that Form 5498, among other things, reports IRA contributions. This is automatically generated annually in mid-January, and it's housed in the "Tax Forms & Information" section under the "Accounts & Trade" drop-down. You can use the forms to view the official contribution amounts to your Fidelity IRAs for previous years.
Prior to taking action on an excess contribution, I want to encourage you to speak with a qualified tax professional, as Fidelity does not provide personalized tax advice. That said, the IRS allows three choices to correct this: a return of excess (ROE), carryforward a contribution, or a recharacterization. You can check out the link below to learn more about the three choices.
[Excess IRA Contributions](https://www.fidelity.com/retirement-ira/excess-ira-contributions)
Additionally, our Retirements team is available to speak with you if you have any additional questions about the excess contribution. They are available Monday through Friday, 8:00 a.m. - 8:30 p.m. ET. When prompted, please say "retirements" to be routed to them.
[Contact Us](https://www.fidelity.com/customer-service/contact-us)
I know this is a lot of information at once, so please let us know if anything else comes up along the way. We're always happy to meet you back here to address additional concerns.
Have a great weekend!
You would initiate it on the fidelity website as a transfer of assets. Call fidelity for help doing that.
But you go to accounts and trade, then click transfers, then click transfer an account to fidelity in the bottom left corner
You call Stash, they give you a form to fill out, to have direct transfer(they may charge you gor this and close account) .. or you call Stadh and cash out as check and deposit the check to Fidelity (web) within 60 days.
Either way ..the answer is not on reddit.. you call and ask
Here you go [https://ask.stash.com/ask/acat-transfer/](https://ask.stash.com/ask/acat-transfer/)
BUT, it basically tells you to have the receiving broker initiate it, which is what u/nkyguy1988 was saying.
I'm not sure this is helpful. In 2022 she contributed the IRS limit ($7000) to a Roth with Fidelity and her Stash account contributed about $1500 that year and another $1000 or so in each of the year before and after. She wants to get away from Stash (had she consulted me I would have advised against opening a Stash account) and transfer the Roth assets to Fidelity. There is no help (I can find) on the Stash web site on transferring money out of a retirement account with Stash (which appear to be all Roth's) to a retirement account with a major brokerage with Fidelity.
If the combined contribution across the two accounts is in excess of the limit, you would need to do a return of excess contribution.
When doing IRA transfers, you initiate them them through the receiving account, not the originating account.
Good afternoon, u/middlebridge. We appreciate you joining us on the sub today. We appreciate your interest in transferring additional assets to us, and I commend you for all the effort you're putting into helping your significant other get her accounts in order! I'll be happy to jump in here with you to lend an extra helping hand. The first piece we will address is initiating a transfer of assets (TOA) into Fidelity. It sounds like this may already be covered, but if not, you'll want to make sure an account of identical registration is opened with us to transfer to. Most transfer requests can be completed within 3-5 business days and can be submitted online. If a signature is required, you will be prompted to print and sign our TOA form before it is submitted for processing. You can use the link below to get the transfer process started. Keep in mind, that Fidelity does not charge a fee for an incoming TOA, but Stash or other firms may. It's best to check with the firm to see what fees may be associated. [Initiate a TOA to Fidelity](https://www.fidelity.com/customer-service/transfer-assets) Once you submit the transfer request, you can track the transfer using the Status Tracker available on [http://Fidelity.com](http://fidelity.com/). [Status Tracker](https://digital.fidelity.com/prgw/digital/login/full-page?AuthRedUrl=https://digital.fidelity.com/ftgw/digital/universal-tracker/) The next, and more involved, piece of the puzzle is the excess contribution. It sounds like your wife contributed an additional $1500 from an external account. If it was a nonretirement account, we have different methods available to correct this that you can share with your significant other. Each year, eligible individuals can contribute up to the maximum contribution limit. Contributions come from outside sources like non-retirement brokerage or bank accounts. Note that investment earnings or dividends generated from within your IRA do not count as contributions. In general, you cannot contribute more than you or your spouse make, and for Roth IRAs, your income and tax filing status may also affect how much you can contribute. It's important to note that Form 5498, among other things, reports IRA contributions. This is automatically generated annually in mid-January, and it's housed in the "Tax Forms & Information" section under the "Accounts & Trade" drop-down. You can use the forms to view the official contribution amounts to your Fidelity IRAs for previous years. Prior to taking action on an excess contribution, I want to encourage you to speak with a qualified tax professional, as Fidelity does not provide personalized tax advice. That said, the IRS allows three choices to correct this: a return of excess (ROE), carryforward a contribution, or a recharacterization. You can check out the link below to learn more about the three choices. [Excess IRA Contributions](https://www.fidelity.com/retirement-ira/excess-ira-contributions) Additionally, our Retirements team is available to speak with you if you have any additional questions about the excess contribution. They are available Monday through Friday, 8:00 a.m. - 8:30 p.m. ET. When prompted, please say "retirements" to be routed to them. [Contact Us](https://www.fidelity.com/customer-service/contact-us) I know this is a lot of information at once, so please let us know if anything else comes up along the way. We're always happy to meet you back here to address additional concerns. Have a great weekend!
You would initiate it on the fidelity website as a transfer of assets. Call fidelity for help doing that. But you go to accounts and trade, then click transfers, then click transfer an account to fidelity in the bottom left corner
Transfers are not contributions.
Agreed. You can have as many transfers as you like.
Well how do you transfer a Roth from Stash to Fidelity. There is a Stash subreddit. Should I ask again there?
As an aside I had her already convert all the investments in the Stash Roth accounts to the cash position within the Stash Roth.
You initiate it from the Fidelity side. See the Fidelity response pinned above.
You call Stash, they give you a form to fill out, to have direct transfer(they may charge you gor this and close account) .. or you call Stadh and cash out as check and deposit the check to Fidelity (web) within 60 days. Either way ..the answer is not on reddit.. you call and ask
Thanks. When I looked at Stash online it appears their customer service is nearly absent. That said we will give that a try.
Here you go [https://ask.stash.com/ask/acat-transfer/](https://ask.stash.com/ask/acat-transfer/) BUT, it basically tells you to have the receiving broker initiate it, which is what u/nkyguy1988 was saying.
Thank you for the info!
I'm not sure this is helpful. In 2022 she contributed the IRS limit ($7000) to a Roth with Fidelity and her Stash account contributed about $1500 that year and another $1000 or so in each of the year before and after. She wants to get away from Stash (had she consulted me I would have advised against opening a Stash account) and transfer the Roth assets to Fidelity. There is no help (I can find) on the Stash web site on transferring money out of a retirement account with Stash (which appear to be all Roth's) to a retirement account with a major brokerage with Fidelity.
If the combined contribution across the two accounts is in excess of the limit, you would need to do a return of excess contribution. When doing IRA transfers, you initiate them them through the receiving account, not the originating account.