Fidelity eliminated $50 IRA closeout fee

[tfb]

We had many threads over the years from posters annoyed by a $50 fee charged by Fidelity for closing out an IRA. Some leave a small balance in a Fidelity IRA simply to avoid this fee.

Fidelity charges to close accounts!
50.00 Fee from Fidelity for transfer
Annoyed with Fidelity
A small rant about a fee I was hit with...

Now, in addition to launching two new funds with 0% ER, lowering ERs on existing index funds, lowering minimum investments to $0, expanding the commission-free iShares ETFs from 70 to 240, Fidelity also eliminated the IRA closeout fee. This is reflected in the updated commission and fee schedule below (Fee Information tab):

https://www.fidelity.com/trading/commis ... rgin-rates

If you have a Fidelity IRA you didn't want except for avoiding the fee, now you can close it and transfer it out.

Unrelated but maybe relevant to some, Fidelity also made domestic wire transfers free for everyone (Vanguard charges $10 unless you are Flagship).

[FIREchief]

I saw the first Fidelity commercial on TV last night for their new ZERO funds. They mentioned dropping to zero on a number of things (minimums, ERs, xfer fees, etc.). The tag line? "All those zeros add up to a lot" Really clever!

[blackwhisker]

Thank you for sharing tfb!

[stlutz]

Also no fee for a wire or to get a cashier's check.

[pokebowl]

I just did a rollover of an orphan IRA from fidelity only two weeks ago. Would have saved myself $50 bucks to wait two weeks. Oh well...

[stlutz]

I just did a rollover of an orphan IRA from fidelity only two weeks ago. Would have saved myself $50 bucks to wait two weeks. Oh well...

I'll give you $50 if you call up Fidelity and manage to convince them to reimburse you.

[Dead Man Walking]

We had many threads over the years from posters annoyed by a $50 fee charged by Fidelity for closing out an IRA. Some leave a small balance in a Fidelity IRA simply to avoid this fee.

Fidelity charges to close accounts!
50.00 Fee from Fidelity for transfer
Annoyed with Fidelity
A small rant about a fee I was hit with...

Now, in addition to launching two new funds with 0% ER, lowering ERs on existing index funds, lowering minimum investments to $0, expanding the commission-free iShares ETFs from 70 to 240, Fidelity also eliminated the IRA closeout fee. This is reflected in the updated commission and fee schedule below (Fee Information tab):

https://www.fidelity.com/trading/commis ... rgin-rates

If you have a Fidelity IRA you didn't want except for avoiding the fee, now you can close it and transfer it out.

Unrelated but maybe relevant to some, Fidelity also made domestic wire transfers free for everyone (Vanguard charges $10 unless you are Flagship).

When will the elimination of the close out fee take affect?

DMW

[tfb]

When will the elimination of the close out fee take affect?

It has already taken effect.

[OnLevel]

I just did a rollover of an orphan IRA from fidelity only two weeks ago. Would have saved myself $50 bucks to wait two weeks. Oh well...

Ditto

[tenkuky]

And Fidelity covered the $25 partial transfer out fee imposed by Schwab in midst of my IRA to 403b rollover.
All good moves by Fido.