How To Close Chase Investment Account

Chase customers looking to close their investment accounts face a straightforward, yet crucial, process. Failing to follow the proper steps can lead to delays and potential complications in accessing your funds.

This article provides a concise guide on how to close a Chase investment account, ensuring a smooth and efficient experience.

Initiating the Account Closure

Before beginning the closure process, verify that all assets have been liquidated or transferred. This includes stocks, bonds, mutual funds, and any other holdings within the account.

Failure to do so will require liquidating these assets during the closure, which may have tax implications and potentially incur fees.

Chase offers several methods to initiate the account closure, each with its own advantages.

Closing Your Account Online

Unfortunately, Chase does not currently offer a fully online method for closing investment accounts. This is a key difference from managing standard checking or savings accounts.

Instead, customers must use either mail or phone channels.

Closing Your Account by Mail

This involves sending a written request to Chase. The letter should clearly state your intention to close the investment account.

Include the full account number, your full name, address, phone number, and signature. Mail the request to Chase Investment Services, PO Box 24705, Columbus, OH 43224-0705.

Be sure to include instructions for how you want the remaining funds distributed, whether by check or electronic transfer to another account.

Closing Your Account by Phone

Contact Chase Investment Services directly at 1-800-392-5749. Be prepared to verify your identity and account information.

A Chase representative will guide you through the necessary steps. They will also confirm the details for distributing your remaining funds.

Important Considerations Before Closing

Understand potential fees. Determine if any charges apply to closing the account, especially if it's within a specific timeframe since opening.

Consider the tax implications. Liquidating assets may trigger capital gains taxes. Consult a tax advisor for personalized guidance.

Account statements will cease upon closure. Download and save any necessary statements for your records before initiating the process.

Following Up and Confirmation

Regardless of the method used, follow up with Chase to confirm the closure has been processed. Request written confirmation for your records.

Allow sufficient time for the closure to be completed. This may take several business days, depending on the complexity of the account and the method used.

Carefully review the final statement to ensure all transactions are accurate and the account balance is zero.

Next Steps

After closing your Chase investment account, consider your future investment needs. Explore alternative investment options if necessary.

Retain all documentation related to the closed account for tax purposes. Monitor your credit report for any unusual activity related to the closed account.

Contact Chase Investment Services immediately if you encounter any issues or have further questions regarding the closure process.