Can I Roll Money From One Mutal Fund Company To Another And Not Pay Capital Gains

Can I Just Transfer Over Common Funds to Another Brokerage House?

You can transfer your fund investments to a new brokerage house. — You tin can transfer your fund investments to a new brokerage house.

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You are not tied to a single brokerage house for your investments, including mutual fund holdings. The financial industry has an electronic transfer system for moving securities from i banker to another. Common fund investments are a special case; the transfer details depend on the fund company and on how shares are currently held.

Fund Shares Location

The shares of your mutual fund investment can be held either by the fund visitor or by your brokerage. Information technology volition assist with the transfer procedure if yous let the new banker know the current status of your fund shares. If you receive common fund statements from the fund company, the fund visitor holds your shares, with the broker listed as the dealer of record. If your statement is generated by your broker, the brokerage holds the fund shares in your name.

Brokerage Account Transfers

A brokerage account transfer is initiated by the receiving brokerage. To transfer your common fund and other investment holdings, gear up upwardly a new brokerage account and consummate the account transfer request form. The transfer form will ask you where your mutual fund shares are held, at the brokerage or at the mutual fund company. With the transfer request form, the new brokerage will use the Automatic Customer Account Transfer Service -- ACATS -- to accept your fund investments electronically transferred to the new account.

Fund Dealer Agreements

A brokerage doesn't accept a selling agreement with every mutual fund and fund family. Before you open a new business relationship, telephone call the brokerage and ask whether information technology handles the mutual funds you ain. Y'all can't transfer mutual fund investments to a brokerage that doesn't have a marketing understanding with your funds. A problem is well-nigh probable to ascend if you accept invested in proprietary funds that are sponsored and managed by your electric current brokerage.

Transfer Considerations

The brokerage account procedure through ACATS requires both brokers to verify account data earlier the transfer is initiated. According to the Fiscal Industry Regulatory Authority, it typically takes two weeks to complete a transfer. Transfers from banks or fund companies tin can have longer, the authority notes. A few days after submitting the transfer request, contact your new brokerage to check the status of your transfer.

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