Closing Your Account

1. Click the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > Close Account.

   

2. If you have a master account, use the Account Selector to search for client or sub accounts by Account ID, Account Title or Account Alias, then click the client or sub account you want to close.
3. You must delink all client accounts that you manage before you can close your own account.
4. Read the instructions on the page carefully. If your account is USD-based, we will initiate an ACH transfer based on an ACH bank instruction you have on file. If you have more than one ACH bank instruction on file, select the one you want to use from the drop-down list.
5. If you do not have an ACH bank instruction on file, we will issue a check. Verify your US mailing address displayed on the screen.
6. Specify the reason you are closing your account by clicking the appropriate check boxes.
7. Click Continue.
8. Click Back on the next page if you change your mind and do not want to close the account.

   The Close Account page will display the status of your request.

Complete the following steps to close your account at IB. Note that for USD-based accounts, we will initiate an ACH transfer based on an ACH bank instruction you have on file. If you have more than one ACH bank instruction on file, you will have the opportunity to select one. If you do not have any ACH bank instructions, we will issue a check to your U.S. mailing address on file. For all non-USD based accounts, we will issue a wire based on the banking instruction on file.

1. Liquidate or Transfer Positions

   Accounts with positions cannot be closed. You must either liquidate, or transfer all positions to another brokerage firm. Please contact your broker for transfer instructions.

   To check your positions, log in to Broker Portal and select Reports > Activity. View your latest statement to verify that all positions have been liquidated or transferred.

2. Convert Foreign Currencies

   Closing withdrawals may only be made in your base currency. You must convert any foreign currency you may hold back to your account's base currency. Be sure to check your statement and consider any dividend or interest accruals. The conversion can be processed using the Trader Workstation FXTrader. IB will automatically convert non-Base currency balances when you submit a close account request and the balances are below USD 1,000 equivalent. If you need assistance with the conversion process please contact our Trade Desk.

3. Verify Bank Wire Instructions

   For all non-USD based accounts, we will issue a wire based on the saved bank information (instruction) on file. If you do not have any saved bank information (instruction) for a Wire Withdrawal, create one.

4. Return Secure Login Device

   If you participate in the Secure Login System, you must return your secure login device. Cash balances will be reduced by the cost of the device (between USD 20 and USD 150 depending on device) until the secure login device is returned.

   For more information regarding how to return the device please contact our Technical Assistance Department or visit our web site: http://ibkb.interactivebrokers.com/node/975.

5. IRA Accounts Withdrawals

   IRA account holders will need to complete an IRA Withdrawal on the Funding > Fund Transfers page in Broker Portal and specify the type of withdrawal for government tax reporting purposes.

6. Ensure Recent Deposits Have Cleared

   All recent deposits, such as ACH, check and wire transfers, must have time to clear according to the Customer Deposit Credit and Hold Periods policy before your request to close your account can be honored.

   See the Funding Reference for details on credit and hold periods:

7. Check Statements and Tax Forms

   To access activity statements and tax forms, log in to Broker Portal and open the Reports menu.

   This information will only be available for a limited time after your account is closed. You will need to save your username and password for future access to statements.

8. Close Account
   1. After you have completed all of the previous steps, log in to Broker Portal and select the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > Close Account.
      • For USD-based accounts only, we will initiate an ACH transfer if you have an existing ACH bank instruction. If you have more than one ACH bank instruction, select the ACH bank instruction you wish to use from the drop-down list on the Close Account page.
      • For USD-based accounts only, if you do not have an existing ACH bank instruction, you can either create one in Broker Portal on the Fund Transfers page or we will issue a check to your U.S. mailing address on file. In the latter case, confirm that we have your correct U.S. mailing address by checking the address displayed on the Close Account page.
   2. To make changes, open the Profile page in Broker Portal by selecting the User menu (head and shoulders icon in the top right corner) > Settings > Account Profile > Profile Information
   3. Specify the reason you are closing your account by clicking the appropriate check boxes.
   4. Click the Submit button to submit your request.

      Your account will be held open for three months after you receive your closing withdrawal to collect any possible future fees, dividends, interest, or corporate actions. After that time, your account will be closed permanently.

   5. Check back to see if any balance has been created on future statements.
   6. You can view the status of your request to close your account by logging in to Broker Portal and selecting the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > Close Account.

   If the above criteria are not met, our system will be unable to process your account closure request.

   Note: Funds held to secure the return of the security device may not be withdrawn until the device has been returned, and will be applied to meet any market data fees.