How to close your Fidelity account
You can close a Fidelity brokerage or retirement account by calling Fidelity directly, submitting a written request, or using their online portal if you have one set up. The process takes a few business days, and Fidelity will ask what you want to do with any remaining cash or securities before they finalize the closure. If you have an IRA or 401(k), there are tax and withdrawal rules that depend on your age and account type — closing the account itself is straightforward, but moving the money out may have consequences you need to understand first.
Most people close accounts because they are moving to another brokerage, consolidating accounts, or no longer need the account. Whatever your reason, Fidelity requires you to settle any pending trades, pay any negative balance, and decide where your money goes before the closure is final.
Key Takeaways
- You can close most Fidelity accounts by phone at 1-800-343-3548, by mail with a signed letter, or through your online account portal if that option is available.
- Before closing, decide whether to withdraw your cash and securities to your bank account or transfer them to another brokerage — Fidelity will not close the account until you choose.
- If you have a retirement account like an IRA or 401(k), withdrawing money before age 59½ may trigger income taxes and a 10% penalty, so understand the tax impact before you close.
- Most closures complete within three to five business days after Fidelity receives your request and you have decided what to do with your funds.
- Keep your final statement and prior statements for at least three years in case you need them for tax purposes or to verify that transfers arrived correctly.
Close your account by phone
Call Fidelity's customer service line at 1-800-343-3548. Have your account number ready, and tell the representative you want to close your account. They will ask which accounts you want to close (you may have multiple), and they will walk you through what happens to any money or investments in those accounts. The representative will confirm your identity by asking for personal information like your Social Security number or date of birth.
The representative will ask whether you want to withdraw the funds, transfer them to another brokerage, or transfer them to a bank account. If you have securities (stocks, mutual funds, bonds), you can sell them first and withdraw the cash, or you can transfer the securities themselves to another brokerage. Tell the representative your choice, and they will explain any fees or timing involved. If you choose to transfer securities, the representative will give you the steps to initiate an ACAT transfer (Automated Customer Account Transfer) from the receiving brokerage.
Fidelity may ask you to confirm the closure in writing. If they do, they will mail you a form or send it electronically. Sign it and return it within the timeframe they give you — usually 10 to 14 days. Your account will not close until Fidelity receives the signed confirmation.
Close your account by mail
Write a letter to Fidelity requesting account closure. Include your full name, account number, and the date. State clearly that you want to close the account and what you want to do with the money or securities (withdraw, transfer to another firm, or transfer to a bank). Sign the letter and mail it to Fidelity's address for account services — you can find the correct mailing address by calling 1-800-343-3548 or checking your account statements.
Send the letter via certified mail with return receipt so you have proof Fidelity received it. Keep a copy for your records. Fidelity will contact you within a few business days to confirm the closure request and ask any follow-up questions about what to do with your funds. Be prepared to provide instructions for where to send your money or which brokerage to transfer securities to.
Close your account online
Log into your Fidelity account and look for account settings or account management options. Not all account types allow online closure, so if you do not see a closure option, you will need to call or mail a request instead. If the option is available, click it and follow the prompts to confirm which account you want to close and what to do with your money or securities.
After you submit the online request, Fidelity will send you a confirmation email. Check your email for any follow-up questions or requests for additional information. Some closures complete when ready online; others require a phone call or written confirmation to finish. If you do not receive a confirmation email within one business day, call customer service to confirm that your request was received.
What happens to your money and investments
Before your account closes, you must tell Fidelity what to do with any cash balance and any securities you own. You have three main options: withdraw the money to your bank account, transfer the securities and cash to another brokerage, or sell the securities and withdraw the cash.
If you choose to transfer securities to another brokerage, that brokerage will initiate an ACAT transfer. Fidelity will send your holdings to the new firm, and the transfer usually takes five to seven business days. You cannot close your Fidelity account until the transfer completes. During the transfer, your securities will not be tradeable at either firm, so plan accordingly if you need access to the money.
If you choose to withdraw cash, Fidelity will send it to the bank account you provide. Withdrawals typically arrive within three to five business days. If you have securities and want to withdraw cash, you must sell the securities first — Fidelity can do this for you, but confirm the sale price and timing before you authorize it. Market conditions can affect the sale price, so do not assume you will receive the price you saw when you logged in.
Closing a retirement account: IRA or 401(k)
Closing a retirement account works the same way as closing a regular brokerage account, but the money you withdraw may be subject to taxes and penalties. If you have a traditional IRA or SEP IRA and you withdraw money before age 59½, you will owe income tax on the withdrawal plus a 10% early withdrawal penalty — unless an exception applies (such as a first-time home purchase, disability, or medical expenses). If you have a Roth IRA, you can withdraw contributions tax-free, but earnings withdrawn before age 59½ are taxed and penalized.
If you have a 401(k) through an employer, you cannot close it while you are still employed by that employer. Once you leave the job, you can close it by rolling it over to an IRA, rolling it to a new employer's plan, or withdrawing the money. Withdrawals before age 55 (or 50 if you work in public safety) trigger the 10% penalty plus income tax. A rollover to an IRA or new employer plan avoids these penalties and taxes, so that is usually the better choice if you have the option.
Before you close a retirement account, consider speaking with a tax professional or financial advisor about the tax impact. The closure itself is straightforward, but the tax consequences can be significant and may affect your tax bill for the year.
What to do after your account closes
Once Fidelity confirms your account is closed, you will receive a final statement showing all transactions through the closure date. Keep this statement and any prior statements for at least three years — you may need them for tax purposes, especially if you had capital gains or losses in the account. If you closed a retirement account and took a withdrawal, you will need these statements to verify the amount withdrawn when you file your taxes.
If you transferred securities to another brokerage, log into your new account and confirm that all holdings arrived correctly. Check the number of shares and the security names against your final Fidelity statement. If you withdrew cash, check your bank account to confirm the deposit. If anything is missing or incorrect, contact Fidelity within 30 days while they can still investigate.
If you closed a retirement account and took a withdrawal, watch for a 1099-R tax form in January of the following year. This form reports the withdrawal to the IRS and to you. You will need it to file your taxes correctly. If you do not receive the form by early February, contact Fidelity to request it.
Frequently Asked Questions
Can I close my Fidelity account if I have a negative balance?
No. If your account has a negative balance (you owe Fidelity money), you must pay the balance before closing. Call Fidelity at 1-800-343-3548 to find out the exact amount owed and how to pay it. Once the balance is paid, you can proceed with closure.
What if I have pending trades or orders when I try to close?
Fidelity will not close your account while trades or orders are pending. Cancel any open orders first, wait for pending trades to settle, and then request closure. Settling usually takes one to two business days.
How long does it take to close a Fidelity account?
Most closures complete within three to five business days after Fidelity receives your request and you have decided what to do with your money and securities. If you need to transfer securities to another brokerage, add five to seven more business days for the ACAT transfer to complete.
Will I be charged a fee to close my account?
Fidelity does not charge a fee to close most brokerage accounts. However, if you transfer securities to another brokerage, that brokerage may charge an incoming transfer fee. Ask the receiving brokerage about their fees before you initiate the transfer.
Can I reopen a closed Fidelity account?
Yes. You can open a new Fidelity account at any time by going to their website or calling customer service at 1-800-343-3548. Your old account number will not be reused, but you can set up a new account with the same personal information.