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How To Close TIAA CREF Brokerage Account. TIAA ACAT and Cancellation Fees


2022 TIAA CREF account transfer fee (ACAT), address. Cost and how to close TIAA brokerage or IRA accounts. Withdrawing money out of account by ACH, wire transfer, debit card, or ATM.


TIAA Brokerage Account Cancel and ACAT Fees


TIAA ACAT fee cost is $50 for a full account transfer (stock positions, mutual funds, ETFs). All IRA accounts (traditional, ROTH, SEP and SIMPLE) at TIAA CREF have the same ACAT fee plus a $130 IRA termination charge. List of all TIAA transfer fees is below: (If you move your account to TD Ameritrade, they will reimburse this ACAT fee.)

Transfers - GNMA, Restricted, Legal $65 per transfer
Transfers - register & ship $80 per transfer
Transfers - outgoing account $50 per transfer
Transfers - accommodation $80 per transfer
IRA Termination Fee $130



How To Close TIAA Investment Account


To cancel TIAA account, you first move your cash to your bank or another broker. If you have investments you can either sell them (you might face tax consequences in this case) or transfer to another broker. Then you call TIAA customer service and ask them to cancel your account.



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TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0
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How to Withdraw Your Money from TIAA Brokerage


If you need to move funds out of your TIAA brokerage account, there are a few choices available to you. This article will describe in detail the broker’s policies for taking money out of an investment account. It will also give you some recommendations on which options to use in specific situations.


ACH Transfers Terms


The TIAA website has a convenient on-line money transfer service. You can use this to electronically bring funds into your TIAA investment account or send money out of it. There is no fee for this service, and the turnaround time is just a few days (usually 1-2 business days); so obviously this is a good choice. Be aware that if the ACH is rejected for any reason, TIAA charges a $25 fee.

The cut-off time for same-day processing is 1:30 pm, EST. Any withdrawal request submitted after this time will be processed the following business day.


Send a Wire


If you don’t want to use the ACH system for any reason, you can move money out of a TIAA brokerage account using the more traditional wire service. Unlike an ACH transfer, the broker-dealer charges for this one. The fee is $25.

Although it’s more expensive, TIAA’s wire service is quicker than its ACH service. The turnaround time is just one day. If you need to move funds out of your account quickly, this may be the better choice.


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Mail a Check


If time isn’t of the essence, getting funds through snail mail is another possibility. TIAA offers this service free of charge, although there is a $12 fee for express delivery if you need the check quickly. We thought this charge was very reasonable. As a comparison, Firstrade charges its customers $50 for the same service.


ACAT Transfer


If you want to keep the positions in your TIAA brokerage account, another option at your disposal is simply to transfer the entire account to another broker. Doing so will close out your TIAA account, which is a good idea if you’re not going to use it. Of course, all the assets in the account will be transferred to the new brokerage firm. This final option is a good choice if you don’t want to liquidate any of your securities. You can transfer stocks, bonds, funds, and other assets through the ACAT system, in addition to cash. TIAA charges $50 for transferring an account to another brokerage firm.

To complete an ACAT transfer, you’ll actually need to start the process with the new broker. Many low-cost brokerage firms today have a simple on-line form that you can fill out. You’ll need your TIAA account number, whether you’re using an e-form or a paper form. If you use an electronic form, the process will be faster.


If You Need Help, TIAA Customer Service is Available


If you have any questions about transferring assets out of your account, TIAA has customer service agents who are available to help. They can be reached by phone (800-927-3059), and the company also has some branch locations.


About the Author
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.