Be sure that you make it crystal clear that you want a "transfer-in-kind" of the shares, not cash from the sale of the shares.  If this is a new account with Fidelity, you will have to fill out an application, in addition to the Transfer of Assets form.  If it is a Roth, don't identify it as a "Traditional IRA," they are not the same and you can't transfer from one to the other.

A number of investors HERE have done it.  If you have any questions, contact Fidelity... they should be happy to help you.

erryl

Thanks Justin,

The firm name was the part that I wasn't sure about. I think overall account opening/closing fees comes out to be about $25.00 or $30.00 which is not bad.

Erryl,

Yes I have chosen transfer in kind. This is an existing account with Fidelity. I already have this fund in taxable account but they wouldn't let me buy in IRA account, that's why jumping through these hoops. BTW both are traditional IRA accounts.

 Thanks again!

Vivek
 

Vivek:

I am doing the same thing as you, but I am a few days farther into the process. After you send the form in, you can check the transfer status online. I think it is at this link, after you log in;

https://scs.fidelity.com/customeronly/s-statustoa.shtml

It will show a file number, initiation date, and estimated completion date.

My case shows an initiation date of July 2 and an estimated completion date of July 21.

Oakmark does not use "ACAT", which is some type of high-tech transfer method that would speed the process, so I assume it is all done by US mail, which slows things down a bit.

I think the info earlier in this thread about how to fill out the form is correct. I talked to Fido about whether or not to mention State Street--he said it probably did not make any difference, so I did not mention them and just stuck with "The Oakmark Funds", and it seems to have worked OK.

ignatz,

Thanks for the link, it would be useful once I mail the paperwork. I was little surprised to see when they (Fidelity) said it may take upto three weeks, what you said about not using "ACAT" kind of explains it.

Vivek 

Finally the shares showed up in my IRA account with Fidelity. The transfer process took a little more than two weeks, in case anyone wants to know.

Now one thing that is missing is cost basis, would Fidelity update it in a few days ? Or do I manually need to enter that?

Thanks again!