How do I close my Retirement Portfolio? (2024)

Before you can close your Retirement Portfolio (IRA), you must complete the following steps:

1. Link your external bank account to Stash so we can transfer your balance to you. (Learn how →)
2. Turn off auto invest for your IRA. (Learn how →)
3. Sell all of the investments in your IRA.
4. Wait up to three business days for the sale to settle. (Learn how →)
5. Wait up to five business days for the recently deposited funds to become available to withdraw.

You cannot close your IRA until you have sold or transferred all of your investments (up to three business days for the sale to settle), and any pending contributions to become available to withdraw (up to five business days).

After you’ve completed steps 1-5 above, follow these steps to finish closing your IRA:

On the app:

1. Login to the Stash app.
2. Tap on Retirement Portfolio.
3. Tap the gear icon in the upper-right corner.
4. Scroll to the bottom, then tap Close retirement account.
5. Follow the prompts to close your Retirement Portfolio.

On the web:

1. Click here to be taken to the Manage Account page to close your IRA.
2. Click Close Account next to Retirement Portfolio.
3. Fill out the form (follow the on-screen instructions [linked below]).
4. Wait 2-4 business days for your balance to be transferred to your external linked bank account.
5. After you’ve received your balance in your external linked bank account, follow this link follow this link to select your tax withholdings.
   1. *Important: If you are withdrawing from a Traditional IRA account you must review the mandatory minimum tax withholding information seen here: IRA Close or Withdrawal State IRA Withholding Requirements. If you do not follow these regulations, your transfer could be rejected.
6. Follow the prompts to close your IRA.

We’ll close your IRA within four business days, and send you an email to confirm that your IRA has been closed. If you don’t hear from us within four business days, please give us a call at 800-205-5164 from 8:00 a.m.-8:00 p.m. ET Monday-Friday, or email us at [email protected].

IRA Forms

If you cannot complete the form, please download the appropriate form and follow the instructions below.

Roth IRA

View the Roth IRA Instructions | Download Roth IRA Form

Traditional IRA

View the Traditional IRA Instructions | Download Traditional IRA Form

DISCLOSURES

Roth IRA: Withdrawals of the money (Contributions) you put in are penalty and tax free. Prior to age 59 1/2 , withdrawals of interest and earnings are subject to income tax and 10% penalty. All earnings are tax free at age 59 ½ or older, assuming your first contribution was more than 5 years prior. Income Eligibility applies.

Traditional IRA: Withdrawing prior to age 59 ½, generally means you’re subject to income tax and a 10% penalty. Withdrawals after age 59 ½ are only subject to income tax but no penalty.

Please review the IRS website for additional information. This is not tax advice. Please consult with a tax professional for additional questions. Closing your Retirement Portfolio will not close your Stash subscription.