To close your fidelity account, you need to call the customer service number and request an account closure. If you are looking to terminate your relationship with fidelity, closing your account may be one of the steps you need to take.
Closing your account with fidelity is a straightforward process that can be done by calling customer service. It’s essential to make sure you have no funds or investments tied up in the account before closing it. Also, remember that there may be possible fees or tax consequences that could occur from closing the account, so be sure to inquire about any possible charges before proceeding with the closure.
This article will guide you on how to close your fidelity account and provide tips to ensure that you have a smooth experience through the process.
Step 1: Gather Necessary Information
If you’re considering closing your fidelity account, you’ll need to gather some crucial information before you begin the process. This information includes your fidelity account number, social security number (ssn), driver’s license or other government-issued id, address, and phone number.
It’s critical to double-check this information to ensure accuracy before proceeding. With this information in hand, you’ll be ready to move on to the next step in the process of closing your fidelity account. Remember, it’s essential to follow all instructions carefully to avoid any confusion or delays in the closing process.
Step 2: Contact Fidelity Customer Service
Once you’ve decided to close your fidelity account, the next step is to contact their customer service. You can call their representative through their customer service number and follow the instructions provided. Alternatively, you can initiate the process by using their online chat feature.
Fidelity’s customer support is always ready to assist you with your requests, so don’t hesitate to ask for their assistance. Additionally, you can send an email to fidelity’s customer service, and they will provide you with further instructions on how to proceed.
Make sure to follow their guidelines, and you’ll be able to close your account in no time. Remember, fidelity values their customer’s satisfaction, so they will do their best to ensure you have a smooth experience.
Step 3: Complete Required Forms
Once you have decided to close your fidelity account, completing the required forms is step 3 in the process. One of the forms you will need to fill out is the account closing request form. This form will ask for your personal information, account details and reason for closing the account.
Additionally, if you have an ira account with fidelity, you may also need to complete a tax withholding form. This form will determine the tax withholding amount, if any, for the distribution of your ira balance. Completing the required forms accurately and in full will make sure your request to close your fidelity account is processed smoothly and efficiently.
Step 4: Verify Your Identity
To close your fidelity account, you’ll need to verify your identity. Provide your fidelity account number, social security number (ssn), and driver’s license or other government-issued id. This helps ensure that only you can access the account. You may also be asked to provide additional information or documentation, depending on your situation.
Once you’ve verified your identity, you’ll need to follow the remaining steps to complete the account closure process.
Step 5: Withdraw Funds
Whether you’re transferring your assets to another brokerage or taking your profits out, fidelity makes the process easy. After you’ve completed the necessary paperwork and closed your account, you can withdraw funds by transferring them to another account, requesting a check be sent to your address, or withdrawing cash at a fidelity branch (if applicable).
The options are flexible and up to you, so choose the one that is most convenient. Just keep in mind that fidelity may charge fees for some types of withdrawals, so check the fine print before making your decision. With this guide, closing your fidelity account is a seamless process from start to finish.
Frequently Asked Questions On How To Close Fidelity Account
How Do I Close My Fidelity Account?
To close your fidelity account, you need to contact fidelity directly by phone or chat. You will likely need to provide some personal information, and fidelity may ask you to complete some paperwork or transfer your account balance.
Are There Any Fees For Closing My Fidelity Account?
Fidelity may charge you fees for closing your account, depending on the type of account you have and how long you have had it. These fees may include an early termination fee or a transfer fee if you decide to move your money to another brokerage firm.
Can I Close My Fidelity Account Online?
You cannot close your fidelity account entirely online. However, you may be able to initiate the process online by sending a secure message through your fidelity account. Fidelity will then provide you with further instructions on how to proceed.
What Are The Alternatives To Closing My Fidelity Account?
If you no longer want to use your fidelity account, there are a few alternatives you can consider before closing it entirely. These include transferring your account to another brokerage, leaving your account open with a zero balance, or using it to hold assets you plan to convert to cash in the future.
How Long Does It Take To Close A Fidelity Account?
The timeline for closing your fidelity account will vary depending on your individual situation and how quickly you respond to fidelity’s instructions and requests for information. Typically, it takes a few days to a few weeks to close a brokerage account.
Fidelity will provide you with a specific timeline once you initiate the process.
Conclusion
In closing, closing a fidelity account is a straightforward process that involves just a few steps. It is crucial to ensure that you have completed all the necessary steps in your account before closing it. The initial step in this process is to settle all outstanding balances and fees to prevent any future complications.
Once you have done that, you can proceed with the deactivation of your account. Remember to confirm all your details before submitting the paperwork to the customer service representative to make sure that everything is in order. Always keep a record of all the procedures of closing your fidelity account for future reference.
By following the guidelines outlined in this blog post, the entire process will be less daunting and beneficial to all parties involved. Make sure to seek assistance from fidelity customer services representatives if you experience any issues or have questions during the closure process.
