The fastest way to close a Fidelity account
You can close a Fidelity account by calling their customer service line at 1-800-343-3548, speaking to a representative, and requesting account closure. This takes about 15 minutes. You can also close an account online through your Fidelity account dashboard under Account Settings, though the phone route is faster because the representative can confirm your identity, answer questions about what happens to your money, and process the closure in one call.
Before you close, you need to decide what to do with any cash or investments still in the account. Fidelity will not close an account with a balance—you must either withdraw the money, transfer it to another brokerage, or move it to a different Fidelity account you plan to keep open. If you have a margin loan or outstanding trades, those must settle first.
The closure itself is free. There is no penalty for closing a Fidelity account, and no fee charged by Fidelity for the closure itself. However, if you transfer investments to another brokerage, that receiving brokerage may charge an incoming transfer fee—typically $0 to $75 depending on the firm.
Key Takeaways
- Call 1-800-343-3548 to close your account over the phone, which is faster than the online method and lets you ask questions during the process.
- You must move all money and investments out of the account before closure—Fidelity will not close an account with a balance.
- Closing a Fidelity account is free, but transferring investments to another brokerage may trigger fees from the receiving firm.
- If you have a margin loan, outstanding trades, or pending transactions, those must complete or be resolved before you can close.
- After closure, you will lose access to your account dashboard and cannot log in, so download or print any statements or tax documents you need first.
What to do with your money before closing
You have three options: withdraw the cash to your bank account, transfer investments to another brokerage, or move everything to a different Fidelity account you want to keep. Each path takes different time and has different costs.
Withdrawing cash is the simplest. Log into your account, go to Transfers & Payments, select Withdraw Funds, and choose your linked bank account. Fidelity processes most withdrawals in one to three business days. If you have investments you want to keep, you must sell them first—this happens immediately during market hours, but the cash from the sale takes one business day to settle before you can withdraw it.
Transferring to another brokerage moves your entire account or specific holdings to a new firm. You initiate this from the receiving brokerage's website by requesting an ACAT transfer (Automated Customer Account Transfer). Fidelity has 30 days to complete it, though most finish in three to five business days. The receiving brokerage may charge an incoming transfer fee of $0 to $75. Fidelity does not charge you to send the transfer.
Moving to a different Fidelity account is free and instant. If you have multiple Fidelity accounts and want to keep one open, you can move money between them before closing the one you do not want. This avoids transfer fees and takes minutes.
Settling trades and loans before closure
If you have open trades, pending orders, or a margin loan, Fidelity will not close your account until these are resolved. Open trades must complete—if you placed a buy or sell order that has not filled, you must cancel it or wait for it to execute. This usually happens within one business day during market hours.
If you have a margin loan (money you borrowed from Fidelity to buy investments), you must pay back the full balance before closure. You can do this by depositing cash into the account or selling investments to cover the loan. Fidelity will tell you the exact amount owed when you call to close.
If you have pending deposits or transfers coming into the account, wait for them to land before you close. Similarly, if you initiated a withdrawal that has not cleared yet, wait for it to complete. Once everything has settled, you can proceed with closure.
Closing the account online versus by phone
Fidelity offers both methods, but they work differently. The phone route is usually faster because a representative can walk you through the process, confirm your identity in real time, and answer questions about what happens to your money or tax documents.
To close online, log into your account, go to Account Settings, find the option to close or deactivate your account, and follow the prompts. Fidelity will ask you to confirm the account is empty and that you understand you will lose access. You may need to wait for email confirmation, and the closure may take a few business days to process.
To close by phone, call 1-800-343-3548 during business hours (Monday through Friday, 8:30 a.m. to 9 p.m. Eastern Time; Saturday, 8:30 a.m. to 6 p.m. Eastern Time). Have your account number and a form of ID ready. The representative will verify your identity, confirm the account is empty, and process the closure immediately. You will receive a confirmation email within one business day.
What happens to your tax documents after closure
Fidelity keeps your tax documents available for download for a limited time after closure, but access is easier before you close. Before you initiate closure, log into your account and download or print any 1099 forms, 1098 forms, or year-end statements you need for tax purposes. Save these to your computer or print them.
After your account is closed, you can still request documents by calling Fidelity at 1-800-343-3548, but it is slower and requires you to verify your identity without being able to log in. If you need documents from multiple years, download them all before you close.
If you had investments that generated capital gains or losses, or if you received dividends, you will need the 1099-B (for sales) or 1099-DIV (for dividends) to file your taxes. Fidelity mails these in January for the previous year, so if you close before January, make sure you have already downloaded the prior year's forms.
Reopening a closed Fidelity account
If you close your account and later change your mind, you can reopen it. Contact Fidelity at 1-800-343-3548 and ask to reopen your account. Fidelity can usually reopen accounts within 30 days of closure without requiring you to go through the full account opening process again. After 30 days, you may need to open a new account instead, which is free but means you get a new account number.
Reopening is free and takes one business day. Your account history and previous statements remain on file, so you can still download documents from your closed account even after reopening a new one.
Frequently Asked Questions
Do I have to pay a fee to close my Fidelity account?
No. Fidelity does not charge a fee to close your account. However, if you transfer your investments to another brokerage, that firm may charge an incoming transfer fee, typically $0 to $75.
What if I have a 401(k) or IRA with Fidelity?
Retirement accounts have different rules. You cannot simply close a 401(k)—you must roll it over to a new employer's plan, an IRA, or take a distribution (which may trigger taxes and penalties). IRAs can be closed by transferring the balance to another IRA provider or withdrawing the money. Call Fidelity to discuss your specific retirement account type before closing.
How long does it take to close my account?
If you close by phone and your account is already empty, closure is immediate and confirmed within one business day. If you close online, it may take two to three business days. If you still have money or investments in the account, you must move those first, which adds one to five business days depending on the method.
Can I close my account if I have pending transactions?
No. You must wait for all pending transactions, trades, and transfers to complete before Fidelity will close your account. This usually takes one to three business days.
What happens to my account statements after I close?
You can download statements from your closed account by calling Fidelity, but it is easier to download them before you close. Fidelity keeps records for several years, so you can request older statements even after closure, but you will need to verify your identity without being able to log in.