Thanks for the replies. I have done backdoor IRAs for the last number of years with Vanguard. So if I roll the Fidelity 401K into a Vanguard IRA, I can no longer do a backdoor IRA? Sounds like I should probably leave it parked with Fidelity then. The options aren't bad with Fidelity, but I would prefer to have it with Vanguard.
So yeah, you're actively doing backdoor Roth IRA contributions, and you plan to continue. Three options:
1. Leave the money in 401K (assuming this is an option - check your plan documents to be sure)
2. Roll-over the money and convert it to Roth.
3. Transfer the money to another 401K, maybe you can do this at your current employer, if you like that plan better?
Option 2 would mean a taxable conversion. Depending on the size of the conversion, that could be a lot of tax, or a little. Given you're doing the backdoor Roth, your income is probably pretty high, so I'd bet 1 or 3 is better for you.
What is the size of this account, roughly? If we're talking about 100K, option 2 is probably a non-starter, but on a 3K account, maybe the tax hit is worth it for convenience sake.