How to close / remove an account?
Here’s a summary of the main problem and solutions discussed in the conversation:
- Main Problem: The user wants to know how to close or permanently remove accounts on Fidelity, particularly those with a $0 balance and previous employer accounts that continue to display.
- Solution 1: Workplace accounts cannot be removed due to record-keeping requirements, but users can customize their profile view to hide accounts by navigating to “Profile & Settings” on NetBenefits.com.
- Solution 2: For personal investing accounts, users can also customize their display by logging into Fidelity.com and adjusting “Account Display Preferences.”
- Solution 3: Closed brokerage accounts are retained for one year, after which they are purged, while workplace plans remain indefinitely, but hidden accounts typically won’t show online.
This provides clarity on managing account visibility and the limitations of account removal on Fidelity.
Here’s the full thread
I have a few questions regarding closing or removing accounts on Fidelity.
1) How can one close an account on NetBenefits from a previous employer that has $0 balance?
2) There is also a section in the profile from a previous employer under “Stock Plans” – there is no option to remove this from the front page. Is there a way to remove this?
3) Are there any ways to permanently remove an account from my profile? I understand I can hide the account itself by going to the customization option but wanted to see if there is a more permanent method
Thank you!
Hey @kentarosays, thanks for your questions. Happy to help.
Typically, workplace accounts cannot be removed as they are a part of our record keeping. As you mentioned, customers can customize their profile view by logging into NetBenefits.com and following the steps below:
1. Click the “Profile & Settings” icon near the top right corner
2. Choose “Account Display”
3. Expand “Account Display” and click “name and hide individual accounts”
Customers who also have personal investing accounts, such as an IRA or nonretirement account, can choose to customize their display as well. Simply visit Fidelity.com, log in and follow the steps below:
1. Click “Accounts & Trade”
2. Choose “Portfolio,” then “Customize” near the top left
3. Select “Account Display Preferences”
We’ll share feedback regarding the option to have inactive workplace plans removed. 🟢
Hi @FidelityEmilio – thank you for your help here!
I have a follow up question. Is there a reason why closed accounts continue to remain available on the Fidelity page, even as an option on some of the page for example when performing a transfer?
Is there a point in the future where the account information can be completely removed or will it always stick around?
Hey @kentarosays happy to chime in here for @FidelityEmilio.
We are required to maintain accounts online for record keeping purposes. For close Brokerage accounts, we do purge those in May each year after one full year of inactivity. With Workplace plans, those must remain.
With that said, if you hide the account using the “Customize” feature on Fidelity.com, those accounts will not typically show anywhere online.🟢
Thank you @FidelityDexter – that makes sense. Thank you very much for the clarification.