Closing An Account

Please complete the following steps to close your account at IB:


Step 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 into Account Management and in the Report Management section open Activity Statements. Elect to View Statements to verify that all positions have been liquidated or transferred.
Step 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. The conversion can be processed using the Trader Workstation FXTrader. If you need assistance with the conversion process please contact our Trade Desk.
Step 3.	Verify Mailing Address For USD-based accounts, IB will issue a check to your mailing address on file. To confirm that IB has your correct mailing address, log in to Account Management and in the Account Administration section open the Print Account Details page. Scroll down to the Account Holder Details section to verify your home address. To make changes,open the Account Information section and click Modify. Checks are automatically sent for USD based accounts. If you would prefer a wire transfer, open the Funds Management section and on the Cash Transfers page set up a Wire transfer.
Step 4.	Verify Bank Wire Instructions For all non-USD based accounts, IB will issue a wire based on the banking instruction on file. To create or change banking instructions, Log in to Account Management and open the Funds Management section. On the Cash Transfers page select Withdraw Cash as the transaction, then Wire as the method. To create a new instruction, select Add New Instruction and fill in the necessary fields. To modify an existing instruction, select an existing wire instruction and click the Edit Instructions button at the bottom of the page.
Step 5.	Cancel Market Data Subscriptions You need to cancel your market data subscriptions when you close your account. To cancel subscriptions, log in to Account Management, open the Trading Access menu and select Market Data Subscriptions. Deselect checkboxes to cancel your subscriptions.
Step 6.	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 USD 150.00 until the secure login device is returned. For more information regarding this program please contact our Technical Assistance Department or visit our web site: http://www.interactivebrokers.com/en/accounts/secureTransactionProgram.php
Step 7.	IRA Accounts Withdrawals IRA account holders will need to complete the IRA Withdrawal Instructions in Account Management and specify the type of withdrawal for government tax reporting purposes.
Step 8.	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. Please refer to the attached link for more details: http://www.interactivebrokers.com/en/accounts/depositInstructions.php
Step 9.	Check Statements and Tax forms To access activity statements and tax forms, log in to Account Management and open the Report Management section. Click an entry to view your Activity Statements or Tax Forms. 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.
Step 10.	Close Account After all of the above has been completed, log in to Account Management and open the Account Administration section. Click Close Account. Your account will be held open for 3 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. Please check back to see if any balance has been created on future statements.

Please note that if the above criteria are not met our system will not be able to process your account closure request. Inactivity fees will continue to be deducted from an account until the above steps are completed, including the return of any Secure Login System device. Also note that 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 inactivity or market data fees.