|
How To Close a Fidelity Account
|
How to Cancel an Account at Fidelity
Do you have an investment account with Fidelity Investments? If you do but no longer use it, it can make sense to close the account and remove an extra point of access. Here’s how to get it done:
Get Rid of the Securities First
The first step is to remove the securities from the account. There are two basic ways to do this. You can either sell the assets (or buy to cover short positions) or transfer them out. The first option will most likely create tax consequences in a taxable account, so you’ll definitely want to speak with a tax professional before taking that route.
As for transfers, it’s possible at Fidelity to move securities out through transfer networks such as ACAT. Because Fidelity offers both fractional-share trading and dividend reinvesting, it’s very possible that you have fractional shares in stock and ETF positions. These cannot be transferred out, so they will be turned into cash during the transfer process.
Get Rid of the Cash Next
Once the securities are gone, the account’s cash balance is next. That money will need to be moved out in one of several ways. Both the website and mobile app have ACH transfer tools. On the app, the transfer form can be found by tapping on the Transact icon that appears in the bottom menu (select Transfer on the following page).
On the website, the ACH transfer tool can be found under the Transfers section. If you need to link an external bank account, you can do so by adding a bank account before submitting the transfer.
Once you have both accounts ready to go, set the date of the withdrawal (it could be in the future), the frequency (presumably, this will be just once here), and the amount.
Besides ACH, there are other ways to move a cash balance out of a Fidelity account. These include wire transfer, paper check, and bill pay. ACH withdrawal is usually the easiest.
Closing a Fidelity IRA Account
Fidelity offers several retirement accounts and other tax-deferred accounts. In these cases, withdrawing cash (or moving securities in the case of a rollover) could have tax consequences. Be sure to consult with a licensed tax professional before making any transfers or withdrawals from a tax-advantaged account.
Closing the Fidelity Account
Once everything has been removed from the account and it has a $0.00 balance, it’s time to close it. This can be done using one of several methods.
First is the robo chat service on Fidelity’s website and mobile app. In some cases, the automated system can help with account-closure requests. Just type in (or use the microphone to speak) a request to close the account. The system may ask you to verify the specific account in case you have more than one.
The automated chat system can be found on the mobile app by tapping on the dialogue cloud icon at the top of the app. On the website, there is a link at the top of the site.
A second option on the website is secure messaging. To find it, go to Fidelity’s customer service area or contact page and look for the link to send a secure message.
Another option is to call a human representative over the phone. This method is a little less efficient because there may be a wait time. Although branch locations may have wait times, too, they can also handle account-related requests.
Find a Financial Advisor
Find a Financial Advisor
Closing the Fidelity Managed Accounts
In a robo or other advisory account, Fidelity may need time to liquidate holdings or otherwise process the assets before the cash can be moved out. This can take a few days, which may delay the final withdrawal.
Broker Promotions
If you are transferring your Fidelity investment account to another firm, make sure to check whether that company offers promotions for opening a new account.
Here is the list of current incentives - Broker Promotions »
Closing a Fidelity Account by Transfer
Instead of going through the steps outlined above, it can be easier to move the account into another one. To use this method, you obviously need a second account first. It can be either another Fidelity account or an account at another brokerage firm that participates in the ACAT transfer service. In either case, the two account types need to match exactly.
To perform an internal transfer from one Fidelity account to another, go back to the transfer tool we used earlier. This time, instead of moving cash to a linked bank account, you’ll move cash or eligible assets to the second Fidelity account, which should automatically appear in the list of available accounts. If the first account remains open after its balance reaches zero, you can then request closure separately.
To close the Fidelity account using a full outgoing ACAT transfer, you’ll need to request the transfer from within the receiving brokerage account at the second firm. A partial ACAT transfer won’t empty the Fidelity account, so be sure to select a full transfer if your goal is to finish moving everything out.
Both self-directed accounts and some managed accounts can be transferred out of Fidelity. Learn more on
How to transfer a Fidelity account to Charles Schwab.
Free Charles Schwab Account
Visit Schwab Website
Closing a Fidelity Account for a Deceased Client
Closing an account for an account holder who has passed away is a little more involved. To start the process, fill out Fidelity’s online death-notification form and attach a death certificate if it is available. The account will be restricted, and more time and work will be necessary to eventually get it closed.
Updated on 4/7/2026.
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.
|