The basic steps to close a Fidelity account

You can close a Fidelity account by contacting Fidelity directly — either by phone, online chat, or in person at a branch. The process itself takes a few minutes, but what happens to your money and investments depends on what type of account you have and what you do before you call.

Before you close, you need to decide what to do with any cash or investments in the account. Fidelity will not close an account that still holds positions — you must either sell investments, transfer them elsewhere, or withdraw the cash. Once your account is empty, Fidelity processes the closure, usually within one business day.

The timeline from your request to final closure is typically three to five business days, though it can be longer if you are transferring investments to another brokerage instead of selling them.

Key Takeaways

  • You must empty your account before Fidelity will close it — sell all investments, transfer them out, or withdraw cash.
  • Contact Fidelity by phone at 1-800-343-3548, through online chat on their website, or visit a local branch in person.
  • If you have a retirement account (IRA, 401k), closing rules are different and depend on your age and the account type.
  • Transfers to another brokerage take longer than selling positions, sometimes two to three weeks for the full process.
  • After closure, keep records of your final statements and any tax documents for at least three years.

What to do with your money and investments before closing

The first decision is whether to sell your investments or move them to another brokerage. Selling is faster — you can liquidate most positions within one business day and then close the account immediately after. Moving investments to another brokerage (called a transfer) takes longer because the receiving brokerage has to request the positions from Fidelity, and Fidelity has to verify and send them. This process usually takes two to three weeks.

If you have cash in the account, you can withdraw it to your bank account or leave it until after the account closes — Fidelity will mail a check or transfer it to the bank account on file. If you have fractional shares or positions that are hard to move (certain mutual funds, for example), ask Fidelity which option is faster: selling them or transferring them.

Write down your account number and the total value of what you own before you call. Fidelity will ask for this information, and having it ready speeds up the conversation.

How to contact Fidelity to close your account

You have three ways to reach Fidelity: by phone, online chat, or in person. Phone is usually fastest if you know what you want to do with your money.

Call Fidelity at 1-800-343-3548. Have your account number, Social Security number, and a form of ID ready. Tell the representative you want to close your account and describe what you have done with your positions (sold them, transferred them, or withdrawn cash). The representative will confirm your account is empty and process the closure on the call.

You can also use online chat through Fidelity's website — log into your account, look for the chat icon, and select the option to close your account. Chat representatives can answer questions but may direct you to phone for final closure. If you have a local Fidelity branch, you can walk in and ask to close your account in person; bring your ID and account number.

Closing retirement accounts (IRAs and 401ks)

Retirement accounts have different rules. If you have a traditional or Roth IRA with Fidelity, you can close it the same way as a regular account — empty it and call to close. But what you do with the money matters for taxes.

If you are under 59½ and withdraw from a traditional IRA, you will owe income tax plus a 10 percent early withdrawal penalty on most of the money. If you are 59½ or older, you owe income tax but not the penalty. Roth IRAs have different rules depending on how long you have held the account. The safest move is to transfer the money to another IRA (at another bank or brokerage) rather than withdraw it, because transfers do not trigger taxes or penalties.

If you have a 401k through your employer, you cannot close it through Fidelity alone — your employer's plan administrator has to approve the closure. Contact your employer's HR or benefits department first. They will tell you whether you can roll the money into an IRA, take a distribution, or leave it where it is.

What happens after you close your account

Once Fidelity confirms your account is closed, you will no longer be able to log in or access it. Any pending transactions will be cancelled. If you had automatic deposits or transfers set up, those will stop.

Fidelity will send you a final statement showing the closure date and any remaining activity. Keep this statement along with your last few regular statements for your records — you may need them for tax purposes or if a question comes up later.

If you transferred investments to another brokerage, watch your new account to make sure the positions arrived. This usually happens within two to three weeks, but delays can occur. If positions do not show up after three weeks, contact the receiving brokerage to ask them to follow up with Fidelity.

Reasons you might want to close your account

People close Fidelity accounts for different reasons: moving to another brokerage, simplifying finances by consolidating accounts, or no longer needing the account. If you are moving because you want lower fees or different investment options, compare what you will pay at the new place before you close — some brokerages charge transfer fees, and selling investments to move them can trigger capital gains taxes.

If you are closing because you are unhappy with Fidelity's service or fees, consider calling first to ask whether they can address your concern. Fidelity sometimes waives fees or offers other options for long-term customers. You do not have to take them up on it, but it is worth asking before you go through the closure process.

Frequently Asked Questions

Can I close my account online without calling?

You can start the process online through chat, but Fidelity typically requires a phone call to finalize the closure. This is a security measure to confirm your identity. You can schedule a callback if you do not want to call immediately.

What if I have pending transactions when I try to close?

Fidelity will not close your account if transactions are still processing. Wait for pending trades to settle (usually one to two business days), then contact Fidelity again. Once everything has settled and your account is empty, the closure can go through.

Will closing my account affect my credit score?

No. Closing a brokerage account does not show up on your credit report and does not affect your credit score. Credit reports track borrowing and payment history, not investment accounts.

How long do I need to keep records after closing?

Keep your final statements and any tax documents (1099 forms, capital gains reports) for at least three years. The IRS can audit tax returns going back three years in most cases, so having records available protects you if questions come up.

Can I reopen a closed Fidelity account?

You can open a new Fidelity account at any time, but you cannot reopen a closed account. If you close and then change your mind, you will need to go through the new account process again, which takes a few minutes online.