How to close a Fidelity account
You can close a Fidelity account by calling their customer service line, submitting a written request, or using their online portal — the method depends on the account type and whether you have an outstanding balance. Fidelity does not charge a fee to close an account. Before you close, you will need to decide what to do with any remaining money or securities in the account, and you should review any tax implications if you hold investments.
The process typically takes a few business days once Fidelity receives your request. If you have a brokerage account with stocks or mutual funds, you may need to liquidate those holdings first, or arrange to transfer them to another brokerage. If you have a retirement account like an IRA, closing it involves different rules and tax consequences depending on your age and account type.
Key Takeaways
- You can initiate account closure by phone at 1-800-343-3548, through the Fidelity website, or by mailing a written request to Fidelity's address.
- Any cash or securities in your account must be handled before closure — you can withdraw the cash, liquidate investments, or transfer holdings to another brokerage.
- Retirement accounts like IRAs have tax and age-based rules that explore when you close them, so understand those consequences before proceeding.
- Fidelity does not charge a fee to close an account, but you may owe taxes on investment gains or face early withdrawal penalties on retirement funds.
Close your account by phone
Calling Fidelity's customer service team is the fastest way to close most account types. Dial 1-800-343-3548 and tell the representative you want to close your account. Have your account number ready, and be prepared to answer security questions to verify your identity.
The representative will ask what you want to do with any remaining balance. If you have cash in the account, they can send it to your linked bank account or issue a check. If you hold investments, they will explain your options: you can sell everything first, transfer the securities to another brokerage, or leave them with Fidelity in a closed account (though this is uncommon and usually not recommended).
Once you confirm the closure and the handling of your funds, Fidelity will process the request. You should receive written confirmation by mail within a few business days. Keep this confirmation for your records.
Close your account online or by mail
If you prefer not to call, you can submit a closure request through your Fidelity account online. Log in to your account, go to the Account Settings or Profile section, and look for an option to close the account. Not all account types offer this feature online, so you may see a prompt to call instead.
Alternatively, you can send a written request to Fidelity by mail. Address your letter to Fidelity Investments, Attn: Account Services, and include your full name, account number, and a clear statement that you want to close the account. Sign the letter and mail it to the address listed on your account statements. Processing by mail takes longer — typically one to two weeks after Fidelity receives it — so consider calling if you need faster closure.
What to do with money and investments before closing
Before your account closes, you must decide how to handle any cash or securities in it. If you have only cash, you can request a check or direct deposit to your bank account. If you hold stocks, mutual funds, or other investments, you have three options: sell them and withdraw the proceeds, transfer them to another brokerage, or in rare cases leave them with Fidelity (which is not standard practice).
Selling investments before closure is the simplest route if you do not plan to hold them elsewhere. Log into your account, place sell orders for each holding, and wait for the trades to settle — usually two business days. Once settled, the cash is available to withdraw. If you want to keep your investments but move them to another brokerage, you can request an ACAT transfer (Automated Customer Account Transfer). Fidelity will send your holdings to the new brokerage; this process typically takes five to seven business days and does not trigger a sale.
Do not leave investments unsold and unclaimed after closure. Fidelity may liquidate them on your behalf or transfer them to a custodial account, and you could lose track of them or miss important statements.
Tax and penalty considerations for retirement accounts
Closing a retirement account like a Traditional IRA, Roth IRA, or SEP IRA has tax consequences that differ from closing a regular brokerage account. If you close a Traditional IRA and withdraw the money, that withdrawal counts as taxable income in the year you take it. If you are under 59½, you may also owe a 10% early withdrawal penalty unless you meet an exception (such as disability or a first-time home purchase).
Roth IRAs have different rules. Withdrawals of contributions you have already made are not taxed, but earnings withdrawn before age 59½ are taxed and penalized unless you meet an exception. If you have a SEP IRA or other employer-sponsored retirement account, the rules vary by plan type.
Before closing any retirement account, consider speaking with a tax professional or financial advisor to understand the full impact. You may be able to roll the funds into another IRA or a new employer's retirement plan, which avoids when ready taxes and penalties. Fidelity can explain rollover options when you call to close the account.
What happens after your account closes
Once Fidelity processes your closure request, you will no longer be able to log into that account or place trades. You should receive written confirmation of the closure by mail. Keep this confirmation in your records for at least three to seven years, especially if you had investments with capital gains or losses — you may need it for tax purposes.
If you had automatic deposits or bill payments linked to the account, those will stop. Make sure you have redirected any recurring transfers to another account before closure. If Fidelity owes you a refund or has unclaimed funds, they will send it to the address on file; if you move, update your address with Fidelity before closing to may support you receive any final payments.
If you ever want to reopen an account with Fidelity in the future, you can do so by calling or visiting their website. There is no penalty for closing and reopening an account, though you will need to go through the account setup process again.
Frequently Asked Questions
Does Fidelity charge a fee to close my account?
No. Fidelity does not charge a fee to close an account. However, you may owe taxes or penalties depending on the account type — for example, withdrawing from a Traditional IRA before age 59½ may trigger a 10% penalty plus income tax.
Can I close my account if I have a negative balance?
If your account has a negative balance (you owe Fidelity money), you must pay that balance before closure. Call Fidelity at 1-800-343-3548 to arrange payment and then proceed with the closure request.
What if I have a 401(k) or employer retirement plan with Fidelity?
Employer-sponsored plans like 401(k)s have specific rules set by your employer. Contact your company's benefits or HR department to learn how to close or roll over the account. Fidelity can explain your options, but your employer controls the plan rules.
How long does it take to close my account?
Closure by phone typically takes three to five business days after you confirm the request. Closure by mail takes one to two weeks after Fidelity receives your letter. If you have securities to liquidate or transfer, add another five to seven business days for those transactions to settle.
Can I transfer my account to another brokerage instead of closing it?
Yes. You can request an ACAT transfer to move your holdings to another brokerage without closing the account first. This is often simpler than closing and reopening elsewhere. Call Fidelity or contact your new brokerage to start the transfer process.