Fidelity lets you close your account through their website, by phone, or by mail, but the process depends on whether you have an open position, pending transactions, or money still in the account

Closing a Fidelity account is straightforward if your account is empty and has no open trades. If you have cash, securities, or pending orders, you will need to settle or transfer those first. Fidelity does not charge a fee to close an account, but they will not close it until the account meets their requirements — typically a zero balance and no open positions.

The fastest route is usually the phone line, because a representative can tell you when ready whether your account is ready to close and can walk you through any steps you need to take first. If you prefer to handle it online, Fidelity's website has a closure request form, though the timeline is longer. Mail is the slowest option and is mainly useful if you want a paper record of your request.

Key Takeaways

  • You must have a zero cash balance and no open positions (stocks, bonds, mutual funds, or options) before Fidelity will close your account.
  • If you have securities, you can sell them, transfer them to another brokerage, or leave them in the account and close only the cash management features.
  • Calling Fidelity at 1-800-343-3548 is usually the fastest way to confirm your account is ready and submit a closure request the same day.
  • Fidelity does not charge a fee to close an account, and the process typically takes five to ten business days after your request is submitted.

What you need to do before closing

Before you contact Fidelity to close your account, you need to settle any open positions and move any cash or securities out of the account. If you have stocks, bonds, mutual funds, or options contracts, you must either sell them or transfer them to another brokerage. Fidelity will not close an account that holds securities.

If you have cash in the account, you can transfer it to your linked bank account or leave it there temporarily while you work through the closure steps. Check your account for any pending trades, dividend payments, or interest credits — these must clear before closure. If you have a margin account (a loan from Fidelity to buy securities), you must pay back the full balance before closing.

If you have multiple accounts with Fidelity — for example, a brokerage account and a retirement account — you will need to close each one separately. Retirement accounts like IRAs have additional rules: you cannot straightforward close them without understanding the tax consequences of withdrawing the money. If you have a 401(k) through your employer that Fidelity administers, you will need to contact your employer's benefits department, not Fidelity directly.

Closing your account by phone

Call Fidelity at 1-800-343-3548 during business hours (Monday through Friday, 8:30 a.m. to 9 p.m. Eastern time). Have your account number ready. A representative will pull up your account and confirm that you have no open positions and no pending transactions. If your account is ready, they can submit the closure request when ready.

If your account is not ready — for example, if you still have securities or a pending dividend — the representative will tell you exactly what needs to happen before closure can proceed. They can also walk you through selling securities or transferring them if you are unsure how to do it yourself. This conversation usually takes 10 to 15 minutes.

After you submit the request by phone, Fidelity will send you a confirmation email within one business day. The account will close within five to ten business days. If you do not receive a confirmation email within 24 hours, call back to verify that your request was entered into the system.

Closing your account online

Log into your Fidelity account and go to the Account Settings section. Look for "Close Account" or "Account Closure" — the exact wording varies depending on your account type. Click the link and follow the prompts. Fidelity will ask you to confirm that you have no open positions and will show you your current cash balance.

If you have securities or a non-zero balance, the online form will not let you proceed. You will see a message telling you what needs to be settled first. In that case, you will need to either complete those steps and return to the form later, or call Fidelity to have a representative help you.

Once you submit the online closure request, Fidelity will send you a confirmation email. The closure typically takes five to ten business days. You can check the status of your request by logging into your account and returning to the Account Settings section.

Closing your account by mail

Write a letter to Fidelity requesting account closure. Include your full name, account number, and the date. Keep the letter brief — one or two sentences is enough. Mail it to Fidelity's main address: Fidelity Investments, P.O. Box 770001, Cincinnati, OH 45277-0065.

Include a copy of a government-issued ID (driver's license or passport) to verify your identity. Fidelity requires this for mail-in requests. Send the letter via certified mail with return receipt so you have proof that Fidelity received it.

This method is slower than phone or online closure. Fidelity typically takes 10 to 15 business days to receive and process a mail request, plus another five to ten business days to close the account. If you need your account closed quickly, phone or online is a better choice.

What happens after your account closes

Once Fidelity closes your account, you will no longer be able to log in or access any account information through their website or app. If you had a debit card linked to the account, that card will stop working. Any recurring transfers or automatic investments will be cancelled.

Fidelity will keep records of your account for seven years for tax and regulatory reasons. If you need a statement or tax document (like a 1099 form) after closure, you can request it by calling customer service. You do not need to keep your account open to receive these documents.

If you closed the account because you wanted to move your money to another brokerage, make sure you have confirmed that your new brokerage received the transfer before you close the Fidelity account. If something goes wrong in transit, you will have a harder time recovering the money if the sending account is already closed.

Special situations: IRAs and retirement accounts

If you have a Fidelity IRA (Traditional, Roth, SEP, or straightforward), closing the account is more complicated because withdrawing the money may trigger taxes or penalties. Before you close a retirement account, talk to a tax professional or financial advisor about the consequences. Fidelity can explain the mechanics of closure, but they cannot advise you on whether it is the right choice for your situation.

If you have a 401(k) through your employer that Fidelity administers, you cannot close it directly with Fidelity. You will need to contact your employer's benefits or HR department. They will tell you your options: leave the money in the plan, roll it to an IRA, or withdraw it (which may trigger taxes).

If you have a Fidelity brokerage account that is separate from any retirement accounts, those closure steps are the same as described above — phone, online, or mail.

Frequently Asked Questions

Do I have to pay a fee to close my Fidelity account?

No. Fidelity does not charge a fee to close an account. However, if you have securities that need to be sold or transferred, you may incur trading fees or transfer fees depending on what you are moving and where it is going.

What if I have a pending deposit or dividend payment?

Wait for the deposit or dividend to clear before submitting your closure request. Fidelity will not close an account with pending transactions. Once the money arrives and settles (usually one to three business days), you can then request closure.

Can I reopen my account after I close it?

Yes, you can open a new Fidelity account at any time. However, your old account records will remain closed. If you need statements or tax documents from the old account, request them before closure or contact Fidelity after closure to retrieve them.

What if I have a negative balance or owe Fidelity money?

You must pay back any balance you owe before Fidelity will close your account. Call 1-800-343-3548 to find out the exact amount and arrange payment. Once the debt is paid, you can proceed with closure.

How long does it take for my account to fully close?

After you submit a closure request, Fidelity typically closes the account within five to ten business days. Phone and online requests are usually processed faster than mail requests. You will receive a confirmation email when the closure is complete.