Opening an IRA Before Tax Deadline is a Breeze With Schwab 15-Minute IRA

Charles Schwab IRA Offerings Include Traditional and Rollover IRA as well as Tools, Help and Guidance to Support Investors During Tax Season

Wednesday, January 28, 2009 8:00 am PST



Public Company Information:


SAN FRANCISCO--(BUSINESS WIRE)--With tax season upon us, Charles Schwab has fast, easy and convenient ways for consumers to open an IRA before the April 15 tax deadline. Investors can open a traditional or Roth IRA account with Schwab online in about 15 minutes.

“People are looking for some easy solutions to help them get on a better financial track, and the 15-minute IRA is exactly that,” said Rene Kim, senior vice president, Schwab Investor Services. “An IRA can be an excellent retirement savings tool, and Schwab has some great resources to make the process of opening and funding an IRA as painless as possible.”

Schwab’s “15-Minute IRA”

Schwab’s “15-minute IRA” makes it easy to open a retirement account online. Schwab IRAs offer a number of advantages to investors, including no account service fees, low minimum balances, automatic deposits, and access to complimentary consultations to help people through the process of opening their account and matching their portfolio to their needs and risk profile. Schwab IRAs also provide access to a wide range of investment choices that make it easy to invest – from Schwab Target date retirement funds to hundreds of other no-load, no-transaction-fee mutual funds, as well as stocks, bonds, CDs and more. Schwab also offers an IRA Analyzer that helps investors find the IRA type that’s right for them, available at or by calling 1-800-548-5576.

Rollover IRA

Schwab’s Rollover IRA service allows 401(k) plan participants who are changing jobs or retiring to move their retirement savings from their employer’s retirement plan into a Schwab IRA. A rollover can help maintain the tax-deferred savings status and avoid taxes and withdrawal penalties associated with early payouts. By rolling retirement savings into an IRA, investors can also have access to more investment choices and more flexible distribution options.

“It is important for people to understand their 401(k) rollover options when they change jobs, and rolling retirement savings into an IRA can be a good way to continue on the saving path,” said Catherine Miller, Charles Schwab vice president of 401(k) education and advice. “To help people maximize the benefit of rolling their money into an IRA, Schwab offers a complimentary consultation to new Rollover IRA customers, specifically designed to assess investments and make sure retirement savings remain on track.”

Schwab encourages investors to visit for a full list of options and further resources, or call 1-800-548-5576 or visit a Schwab branch to take advantage of the remaining window for opening a retirement account prior to the April 15 tax deadline.

Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing. Investment value will fluctuate, and shares, when redeemed, may be worth more or less than original cost.

Trades in no-load mutual funds available through Mutual Funds OneSource service (including Schwab Funds) as well as certain other funds, are available without transaction fees when placed through or our automated phone channels. For each of these trade orders placed through a broker, a $25 service charge applies. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses.

Charles Schwab & Co., Inc., member SIPC, receives remuneration from fund companies participating in the Mutual Fund OneSource™ service for record keeping and shareholder services and other administrative services. Schwab also may receive remuneration from transaction fee fund companies for certain administrative services.

About Charles Schwab

The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.4 million client brokerage accounts, 1.4 million corporate retirement plan participants, 447,000 banking accounts, and $1.1 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at (0109-7619)


Charles Schwab
Lindsay Tiles, 415-667-3997
Jennifer McClellan, 212-704-4567

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