Ameriprise IRA Rollover: How to Transfer Out

Ameriprise Financial manages approximately $1.4 trillion in client assets, the vast majority of which is held in IRAs and managed accounts through its advisor network. When clients decide to leave, the reason is almost always the same: fee drag. Ameriprise's SPS (Strategic Portfolio Service) wrap fee programs charge an advisory fee of up to 2.0% annually — on top of the underlying fund expenses and, effective August 2025, a new platform fee.¹ At a $600,000 IRA balance, that can easily mean $15,000–$18,000 per year in total costs.

The good news: transferring an IRA out of Ameriprise is a direct trustee-to-trustee transfer — it creates no taxable event, does not count against the IRS once-per-year rollover rule, and takes 2–3 weeks in most cases. Ameriprise cannot prevent you from initiating the transfer. Unlike some custodians with proprietary fund complications, most Columbia Threadneedle and third-party funds held at Ameriprise transfer in-kind via ACAT — you stay invested throughout.

This guide covers the fee math, the one wrinkle unique to Ameriprise accounts (the franchised advisor retention conversation), and the exact steps to move your account.

What you're actually paying at Ameriprise

Ameriprise offers several account structures. The most common for IRA clients are the SPS wrap programs and commission-based brokerage accounts. The fee structure is negotiated and varies, but here are the realistic ranges:

For comparison: Fidelity, Schwab, and Vanguard charge 0% advisory fee on self-directed IRAs and offer broad market index funds at 0.00–0.03% expense ratios. The fee gap between an Ameriprise SPS wrap IRA and a self-directed IRA at a discount custodian is typically 1.50–2.50% per year.

There is also an annual IRA custodial fee of approximately $75 per year, waived at certain household balance thresholds.² When you close or transfer the account, Ameriprise charges a $125 ACAT transfer fee per account.³

Fee-drag calculator: the 20-year cost of staying

When leaving Ameriprise makes sense

Leaving makes sense when:

• You're comfortable managing your own allocation or plan to hire a fee-only advisor who charges a flat or hourly fee instead of AUM
• Your balance is large enough that the annual fee gap ($12,000–$15,000 per year on a $600K account) exceeds the planning value you're receiving
• You're approaching retirement and want serious Roth conversion planning — Ameriprise's AUM wrap model creates a structural conflict with recommending Roth conversions that reduce the taxable balance (and the advisor's annual fee)
• You rarely meet with your advisor and aren't using comprehensive financial planning services

Staying may make sense when:

• Your advisor is actively delivering estate planning coordination, tax return review, insurance analysis, and liability coverage review that genuinely justifies the fee
• You're in a complex situation — NUA employer stock, pending pension decision, active 72(t) SEPP — where terminating mid-execution has consequences
• Your balance is modest enough that the absolute dollar fee gap is small relative to the cost of doing it yourself

The Columbia Threadneedle portability advantage

One important difference between Ameriprise and some other custodians (notably Edward Jones): Columbia Threadneedle funds are publicly available mutual funds that can transfer in-kind via ACAT to Fidelity, Schwab, or Vanguard. You do not have to liquidate them before the transfer — they move as securities and you stay invested throughout.

This matters because:

• There is no brief period of cash drag waiting for liquidation proceeds to arrive at the new custodian
• No capital gains tax event (all within the IRA, so irrelevant — but the in-kind transfer avoids any settlement timing issues)
• You can hold the Columbia Threadneedle funds at your new custodian and sell or exchange them on your own timeline

One exception: If your Ameriprise account holds a RiverSource annuity contract, that is not transferable via ACAT. RiverSource annuities (now issued by Ameriprise Life Insurance Company) have their own surrender charge schedules and require separate surrender or 1035 exchange paperwork — this is a different and more complex process. If you have an annuity in your IRA, address that separately before or after transferring the non-annuity assets.

The franchised advisor retention conversation

Ameriprise advisors operate as franchisees — they own their client relationships and their compensation depends directly on assets under management. When a large account initiates a transfer, advisors are trained to schedule a retention meeting. This is predictable and worth preparing for:

• Initiate the transfer at the receiving custodian, not at Ameriprise. If you call Ameriprise first to say you're leaving, you route into the advisor's retention process before the transfer has started. Instead, open an account at Fidelity or Schwab, initiate the ACAT request there, and let the automated system notify Ameriprise.
• Your advisor may offer to reduce the advisory fee. Many clients discover their SPS fee is negotiable only when they say they're leaving. If the reduced fee still reflects genuine planning value, that's a real option. If it doesn't, proceed with the transfer.
• FINRA requires the transfer to be processed within 5 business days of validation. Once an ACAT request is validated, Ameriprise cannot stall it. If you encounter unusual delays, cite FINRA Rule 11870.

Transfer vs. rollover: the tax distinction

Always use the direct ACAT transfer. There is no scenario in which the 60-day rollover path is preferable for a simple custodian change.

Step-by-step: how to transfer your Ameriprise IRA

1. Open the receiving IRA at the new custodian. Open a Traditional IRA (or Roth IRA if your Ameriprise account is a Roth) at Fidelity, Schwab, or Vanguard. This takes 10–15 minutes online. You do not need to fund it first — just create the receiving account.

2. Gather your Ameriprise account information. Have your Ameriprise account number, registered name, account type (Traditional vs. Roth), and the Ameriprise clearing firm DTC number. This information is on your account statement or accessible in your Ameriprise online portal.

3. Download your cost basis records. Log into your Ameriprise online account and save or screenshot cost basis information for all holdings. Cost basis should transfer automatically, but having your own record prevents disputes on arrival.

4. Initiate the transfer at the receiving custodian. Log into your Fidelity, Schwab, or Vanguard account and find "Transfer assets" or "Transfer IRA from another institution." You'll specify Ameriprise as the transferring firm, your account number, and whether you want a full or partial transfer. The receiving custodian sends the ACAT request electronically — you do not need to call Ameriprise.

5. Expect a call from Ameriprise. For transfers above ~$100,000, Ameriprise typically calls to verify the transfer is authorized and, in many cases, to offer a fee reduction. Confirm authorization and politely decline to cancel. You are not obligated to discuss it further.

6. Watch for the ACAT credit. Most holdings transfer in-kind within 5–10 business days of ACAT validation. Unlike Edward Jones Bridge Builder accounts, you likely will not see a two-stage transfer — assets should arrive in one batch unless you have a RiverSource annuity or other non-ACAT-eligible asset.

7. Pay the Ameriprise transfer fee. Ameriprise charges approximately $125 to process the ACAT transfer out.³ This is deducted from the transferring account or billed separately. Request a zero-balance confirmation letter once the account is fully closed.

Timeline expectations

If you are age 73 or older (born 1951–1959) or age 75+ (born 1960+), you must take your Required Minimum Distribution from the Ameriprise IRA before transferring. RMD amounts cannot be rolled over or transferred — they must be distributed to you first.⁵ See IRA rollover and RMD rules for the sequencing.

Where to transfer: choosing the receiving custodian

• Fidelity — Best for zero-ER funds (FZROX, FZILX: 0.00%). Note: Fidelity ZERO funds cannot be transferred in-kind to another custodian in the future — you must sell and rebuy if you ever move again.
• Schwab — Strong branch presence, competitive fund costs (SWTSX: 0.03%), and rollover-specialist phone support. Good all-around choice for people who want some in-person access.
• Vanguard — Best fund portability (VTI: 0.03%, transferable anywhere via ACAT). Interface is more basic; ideal for buy-and-hold investors who won't need active trading tools.

For a deeper comparison including BAPCPA bankruptcy protection details (IRAs carry a $1,711,975 cap; rollover assets from qualified plans may qualify for unlimited protection), see Best Rollover IRA Account 2026: Fidelity vs Vanguard vs Schwab.

Tax rules during the transfer

• No taxable event. Direct trustee-to-trustee transfers create no income tax liability. Your IRA balance remains in tax-deferred (or tax-free for Roth) status throughout.
• No Form 1099-R. Ameriprise does not issue a 1099-R for a direct transfer. It files Form 5498 showing the IRA was transferred; your new custodian files Form 5498 showing the receiving balance.
• No once-per-year limit. The IRS post-Bobrow rule (IRS Ann. 2014-15) applies only to indirect IRA-to-IRA rollovers — not to direct ACAT transfers. Unlimited direct transfers are permitted. See IRA transfer vs. rollover.
• Roth IRA 5-year clock does not reset. Your Roth IRA clock started on January 1 of the first tax year you made any Roth IRA contribution anywhere. Moving custodians does not affect it.
• Non-deductible basis (Form 8606). If your Traditional IRA contains after-tax contributions, your Form 8606 basis tracks with you — not with the custodian. The new custodian will not know your basis unless you tell them. Keep all prior Form 8606 filings accessible. See non-deductible IRA and Form 8606 guide.

After the transfer: first steps at the new custodian

1. Verify cost basis on all positions. Columbia Threadneedle funds transferred in-kind should show accurate cost basis on arrival. Confirm against your Ameriprise records.
2. Decide what to keep vs. replace. Now that you own Columbia Threadneedle funds at Fidelity or Schwab, you can hold them as-is, sell and rebuy lower-cost equivalents (e.g., VTI at 0.03% vs. Columbia Total Return Bond at ~0.65%), or swap gradually over time. Inside an IRA, fund swaps are not taxable events.
3. Update beneficiary designations. Your Ameriprise beneficiary designations do not transfer to the new custodian. Log in and re-enter them on day one. See IRA beneficiary designations after rollover — this is the most commonly skipped post-transfer step.
4. Evaluate Roth conversion strategy. With the annual fee drag eliminated, this is the right moment to model a Roth conversion ladder. At a $600K pre-tax IRA and a low-income gap year before Social Security or RMDs begin, converting $50,000–$100,000 per year into the 22% bracket can save six figures in lifetime taxes. See Roth conversion after rollover and the interactive Roth conversion calculator.

When to consult a fee-only advisor before transferring

For a straightforward pre-tax IRA with no annuity, no employer stock, and no active 72(t) program, a direct ACAT transfer to Fidelity or Schwab is uncomplicated and you can do it yourself.

The transfer becomes more complex in these situations:

• RiverSource annuity in the IRA. Annuity surrender charges, CDSC schedules, and 1035 exchange eligibility require separate evaluation before moving. A fee-only advisor can model whether surrendering vs. waiting out the CDSC period makes more financial sense.
• Active 72(t) SEPP program. If you are taking substantially equal periodic payments from your Ameriprise IRA to access funds penalty-free before age 59½, transferring the account does not automatically break the SEPP — but you must maintain the SEPP schedule from the new custodian. Any modification of the payment amount or structure triggers retroactive 10% penalty back to the start. Confirm the mechanics before moving. See SEPP 72(t) guide.
• Significant Roth conversion runway. If you're 60–73 with a large pre-tax IRA and Social Security not yet started, a multi-year Roth conversion strategy timed against your income gap years can be worth modeling with an advisor. The fee savings from leaving Ameriprise can be reinvested as a one-time planning fee.
• Non-deductible IRA basis. If years of Form 8606 filings have accumulated basis in your Traditional IRA, gather all prior filings before initiating the transfer. See non-deductible IRA guide.