What is ACATS?
Operated by the National Securities Clearing Corporation (NSCC), ACATS allows investors to move equities, options, bonds, and cash from one FINRA-member brokerage to another (for example, moving an IRA or taxable brokerage from Edward Jones or Wells Fargo to Fidelity, Charles Schwab, or Robinhood).
Why In-Kind Transfers Matter
An in-kind ACATS transfer moves your exact share lots and original cost basis without liquidating your positions. Because no sale occurs, moving a $150,000 taxable portfolio via ACATS triggers $0 in capital gains taxes and keeps you invested in the market during the 3-to-5 business day settlement window.