A Rollover Fee is a charge that is assessed when an investor moves the assets from one retirement account, such as an 401(k) or an individual retirement account (IRA), to another. This fee is typically assessed by the institution that is managing the new account, and it covers the administrative costs associated with processing the rollover.There are also rollover fees for non-retirement accounts like brokerage, these fees usually charged when you sell a position and intend to buy a similar position in the same or another account.It's worth noting that there are some cases where a rollover fee might not be assessed, such as if the investor is rolling over the assets to a new account at the same financial institution. It's always best to check with your financial institution to confirm whether or not a rollover fee will be assessed and, if so, how much the fee will be.Additionally, It's important to note that there can be tax implications of a rollover, so its always wise to consult a tax professional before doing any rollover operation.
