|
Chase IRA Rates. Chase ROTH IRA Fees in 2024
J.P. Morgan Chase IRA interest rates. Chase ROTH IRA, traditional/SEP IRA fees, and
bank retirement account review.
|
Chase IRA Fees
J.P. Morgan provides Individual Retirement Accounts through several divisions. Some of these accounts may have fees, while others do not. Let’s explore the details.
Chase Bank IRA Fees
Chase Bank has stopped offering FDIC-insured retirement accounts. While new IRAs cannot be opened, the bank continues to manage IRAs that were established before they discontinued this service in March 2017.
Fees at J.P. Morgan Investing IRA
JPMorgan Chase & Co. has investment IRAs through its discount brokerage
J.P. Morgan Investing. These are only available as self-directed accounts. Both Roth and Traditional options are offered, and it’s possible to transfer a former employer’s plan into an IRA.
The fee structure is consistent across Roth, Traditional, and taxable accounts.
There are no setup or annual fees for IRAs, but there is a $75 fee to close an IRA.
Although FDIC-insured bank IRAs are no longer offered by JPMorgan Chase & Co., their brokerage division still provides FDIC-insured bank CDs up to the maximum levels guaranteed by the FDIC.
J.P. Morgan Self-Directed Investing charges $10 for each CD transaction.
Trades of target-date mutual funds within self-directed IRAs at J.P. Morgan Investing do not incur commissions.
See all J.P. Morgan fees.
Read J.P. Morgan review.
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor
(or read
Wiser Advisor review).
Visit Wiser Advisor
IRA Fees at J.P. Morgan Wealth Management
You can open an IRA with J.P. Morgan in a traditional setting, where you meet with a licensed investment advisor at a branch. This could be inside a Chase Bank or at a separate J.P. Morgan Wealth Management location in some cities.
Opening an IRA this way involves a different set of fees. Here they are:
- IRA maintenance $75 per year
- IRA termination $95 per account
- 401k termination $50 per account
Although these fees are higher, the benefit of this traditional approach is that clients can work directly with a financial advisor to plan their retirement.
Top Rated Brokers For IRA
Combining Accounts
Clients with multiple retirement accounts at JPMorgan Chase & Co. can merge similar accounts later (Roth to Roth or Traditional to Traditional) without facing any tax consequences. It’s also possible to transfer assets from a Traditional to a Roth IRA, which may result in taxes for the year the transfer occurs.
Updated on 8/6/2024.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|