Objective To investigate the perceived risk of coronavirus disease 2019 (COVID‐19) infection and outcomes as well as shielding practices among patients with rheumatoid arthritis (RA) during the COVID‐19 pandemic. Methods We surveyed participants with RA in a large health care system between July 16 and November 8, 2020. Participants reported RA treatment, COVID‐19 risk perception, and shielding practices (eg, masks, social distancing, and quarantining). We examined the association of demographic and disease‐specific factors with risk perception and the association of risk perception with shielding practices. Results Of 494 participants, 195 (40%), 169 (34%), and 130 (26%) strongly agreed, agreed, or were uncertain/disagreed that their RA put them at higher risk for COVID‐19 or poor outcomes, respectively. Younger age (odds ratio [OR]: 0.98), having a comorbidity (OR: 1.60), and biologic disease‐modifying antirheumatic drug (bDMARD) use (OR: 1.75) were independently associated with a higher perceived risk. Among those who strongly agreed, agreed, or were uncertain/disagreed that they had greater risk, 165 (85%), 118 (70%), and 69 (53%), respectively, practiced all three shielding measures ( P < 0.0001). Those who strongly agreed or agreed that they were at higher risk were more likely to use all three shielding practices (OR: 4.16 and 1.97, respectively). bDMARD use and glucocorticoid use were associated with using all three shielding measures (OR: 1.99 and 1.81, respectively). Conclusion Perception of COVID‐19 risk among patients with RA varies substantially. Factors associated with perceived risk are different from those found to be associated with worse outcomes in observational studies. Greater perceived risk is associated with more strict shielding, which has implications for patient education and mental health.