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Chase IRA Rates. Chase ROTH IRA Fees in 2022
JP Morgan Chase IRA (Roth, SEP, Simple, 401K, traditional, rollover) account rates. Chase bank IRA interest and IRA fees.
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Chase IRA Fees
J.P. Morgan offers Individual Retirement Accounts, available through more than one company department. There are fees in some situations, although sometimes the retirement accounts are fee-free. Let’s check them out.
Chase Bank IRA Fees
Chase Bank no longer offers any FDIC-insured retirement accounts. Although a new IRA cannot be opened, the bank does still service IRAs opened before they shut down their IRA service (March 2017).
Fees at J.P. Morgan Investing IRA
JPMorgan Chase & Co. offers investment IRAs through its discount brokerage unit
J.P. Morgan Investing. These accounts can be opened either as self-directed or automated accounts. Roth and Traditional accounts are available, and an old employer’s plan can be rolled over into an IRA.
The broker’s fee schedule is the same for Roth and Traditional, robo and self-directed. There are no setup or annual fees for IRAs, although there is a $75 IRA closeout fee.
Although FDIC-insured bank IRAs are no longer available through JPMorgan Chase & Co., the discount brokerage unit does offer bank CDs, which themselves are FDIC insured, up to the maximum levels offered by the FDIC.
J.P. Morgan Self-Directed Investing charges $10 for each CD trade.
Trades of target-date mutual funds inside self-directed IRAs with J.P. Morgan Investing are commission free.
See all J.P. Morgan fees.
Read J.P. Morgan review.
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IRA Fees at J.P. Morgan Wealth Management
An IRA can be opened with J.P. Morgan under a traditional format, i.e., with a licensed human investment advisor at a branch location. Typically, this will be inside a Chase Bank location, although J.P. Morgan Wealth Management does have separate locations in some cities.
A retirement account opened under an old-school system will come with a different fee schedule. Here it is:
- IRA maintenance $75 per year
- IRA termination $95 per account
- 401k termination $50 per account
Although the fees are obviously higher, the advantage with the traditional program is that account holders get to sit down with a licensed financial advisor and build a roadmap to retirement.
Combining Accounts
Customers who end up with multiple retirement accounts within the JPMorgan Chase & Co. family can combine like accounts later (Roth to Roth or Traditional to Traditional) without incurring any taxes. It’s also possible to move assets from a Traditional to a Roth with tax liability on the transfer for the tax year in which the move is made.
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Disclaimer
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Updated on 4/16/2022.
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.
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