How to Close a TIAA Account
If you want to close your TIAA investment account, follow these steps to do it fast.
Choosing a TIAA Closeout Method
You can close your TIAA brokerage account by transferring it to another firm (they close it at TIAA) or by withdrawing all your money and asking TIAA to close it.
The benefit of transferring is you don’t have to sell your investments. The downside is TIAA charges $50 per transfer. Closing an IRA costs $130 either way.
You can use either method for self-directed or managed accounts, and fees are the same.
TIAA Account Closing by Transfer
You can close a TIAA account easily with ACATS, which moves assets between brokerages. A full transfer (not a partial one) will close your TIAA account. TIAA charges a fee, but some brokers, like Charles Schwab, refund it.
First, have a brokerage account at another firm ready. It must be the same account type and in the same name. If not, open a new account.
Before the transfer, set up your new account correctly. Enable options or margin if you’re moving those from TIAA. Check with the new broker that they accept your mutual funds.
Also, in your TIAA account, close any options that expire within a week before you start the transfer.
To request the transfer, ask your new broker. They notify TIAA, which moves your assets and closes the account. The process takes about 10 days.
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Regular TIAA Account Closing
If you prefer, you can close the account by selling everything. Turn bonds, stocks, options, mutual funds, and ETFs into cash.
After you have cash in the account, withdraw it. ACH transfers are free on the TIAA website or app.
On the website, click the Actions tab. Then choose Transfer money under Brokerage. The transfer tool will open, showing your saved bank accounts. You can add one if needed.
The transfer tool also lets you pick wire transfers (faster) or paper checks.
In the mobile app, open Actions by tapping the middle icon in the bottom menu to find the transfer tool.
After your balance is zero, ask TIAA to close the account. This stops unauthorized use.
To close the account, call TIAA at 800‑927‑3059. You can also use internal messaging in the website or app, or live chat on the website during business hours.
Broker Promotions
If you are replacing TIAA with another brokerage company, check for incentives for new accounts.
Here is the list of current promos - Broker Promotions »
Updated on 5/5/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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