How to Close a Fidelity Account

To close a Fidelity account, you contact Fidelity directly by phone, mail, or through your online account and request account closure. Fidelity will walk you through what happens to your money, any pending transactions, and tax documents. The process takes a few business days to a few weeks depending on your account type and whether you have open positions or pending trades.

Before you close, make sure you know where your money is going — whether you're moving it to another brokerage, a bank, or taking it as a withdrawal. You'll also need to settle any outstanding balances and decide what to do with fractional shares or small cash positions that don't transfer cleanly.

Key Takeaways

  • Call Fidelity at 1-800-343-3548 or use your online account to request closure; you can also mail a written request.
  • You must have zero balance or move your money out before the account fully closes.
  • If you hold individual stocks or mutual funds, decide whether to transfer them to another brokerage or sell them first.
  • Fidelity will send you final tax documents (1099 forms) after the account closes, which you'll need for that tax year.
  • The closure process typically takes 5 to 10 business days, but can take longer if you have complex holdings or pending transactions.

Contact Fidelity to Request Closure

The fastest way to close your account is to call Fidelity's customer service at 1-800-343-3548. Have your account number ready. Tell the representative you want to close your account, and they'll confirm your identity and ask you a few questions about where your money should go.

If you prefer not to call, you can submit a written request by mail to Fidelity's address (which you can find on your account statements or by logging into your account online). You can also initiate a closure request through your online Fidelity account in some cases — log in and look for account settings or contact options.

Email is not a find way to request account closure, so avoid sending sensitive account information that way. Stick to phone or mail for this request.

Move or Withdraw Your Money Before Closing

Fidelity will not fully close your account until it has a zero balance. Before you request closure, decide what to do with your money. Your options are to transfer it to another brokerage, transfer it to a bank account, or withdraw it as a check or electronic transfer.

If you have stocks, mutual funds, or other investments, you can transfer them as-is to another brokerage using a process called an ACAT transfer (Automated Customer Account Transfer). This moves your holdings without forcing you to sell them. The receiving brokerage usually handles most of the paperwork. If you don't want to transfer your investments, you'll need to sell them first and then move the cash.

Cash transfers typically take 3 to 5 business days. If you're transferring investments, add another 5 to 10 business days for the ACAT process. Plan ahead if you need the money by a certain date.

Handle Fractional Shares and Small Positions

If you own fractional shares (less than one full share) or very small cash balances, these sometimes don't transfer cleanly to another brokerage. Fidelity will tell you which holdings fall into this category. You have two choices: sell them before you close the account, or ask Fidelity to liquidate them and send you the proceeds.

Selling fractional shares yourself gives you control over the timing and price. If you let Fidelity liquidate them, it happens automatically as part of the closure process, usually within a few days. Either way, you'll owe taxes on any gains from the sale in that tax year.

Understand What Happens to Your Tax Documents

After your account closes, Fidelity will send you a final 1099 form (usually a 1099-B for brokerage accounts or 1099-INT for interest-bearing accounts) showing all transactions and gains or losses for that tax year. This arrives by January 31 of the following year. You need this form to file your taxes, so keep it in a safe place.

If you closed your account partway through the year, your 1099 will only show activity through the closure date. Any investments you transferred to another brokerage will show up on that brokerage's 1099 instead, starting the year after the transfer.

What Happens to Recurring Transactions and Automatic Deposits

If you have automatic deposits, dividend reinvestment, or bill pay set up on your Fidelity account, you need to cancel these before closure. Fidelity will ask you about them when you request closure. If you don't cancel them, they may fail or cause delays in the closure process.

If you have a Fidelity debit card or checks linked to the account, those stop working once the account closes. Destroy the card and any unused checks to prevent accidental use.

Confirm Closure and Keep Your Records

After you've moved your money and Fidelity processes your request, you'll receive a confirmation that your account is closed. This usually comes by mail or email. Keep this confirmation and any final statements for your records.

If you ever need to reference transactions from the closed account for tax purposes or disputes, you can contact Fidelity and request copies of your statements. Fidelity keeps records for a set period, so you can retrieve them even after closure.

Frequently Asked Questions

Can I reopen a Fidelity account after I close it?

Yes. Closing an account does not prevent you from opening a new one later. You can open a new Fidelity account at any time using the same or different email address. Your old account history remains on file with Fidelity, but the new account is separate.

What if I have a 401(k) or IRA with Fidelity?

Retirement accounts (401(k), IRA, Roth IRA) have different closure rules than regular brokerage accounts. You cannot straightforward close them without consequences — early withdrawal may trigger taxes and penalties. Contact Fidelity to discuss your specific situation and what your options are for that account type.

Do I owe money if I close my account?

If your account has a negative balance (you owe Fidelity money), you must pay it before closure. This can happen if you sold securities on margin or had fees that exceeded your cash balance. Fidelity will tell you the amount owed when you request closure.

How long does it take to close a Fidelity account?

The timeline depends on your account type and holdings. A straightforward cash account with no investments can close in 5 to 10 business days. Accounts with stocks, mutual funds, or pending transactions can take 2 to 4 weeks. Fidelity will give you a specific estimate when you request closure.

What if I have pending trades when I request closure?

Pending trades must settle before your account can fully close. If you have open orders or unsettled transactions, Fidelity will either cancel them or wait for them to settle. Tell the representative you want to close your account, and they'll explain what needs to happen with any open positions.