Closing your Robinhood account: the basic steps
To close your Robinhood account, you log in, go to your Account settings, select the option to close or deactivate your account, and follow the prompts to confirm. Robinhood will ask you to settle any open positions, pay any outstanding balances, and withdraw your cash before the account fully closes. The process typically takes a few business days once you've completed all the steps, though the exact timeline depends on whether you have unsettled trades or pending transfers.
Before you start, make sure you have access to your login credentials and know your account balance. If you have any money or securities in the account, you'll need to deal with those first — Robinhood won't let you close an account with a balance still in it.
Key Takeaways
- You must sell all stocks, options, and crypto holdings and withdraw your cash balance before Robinhood will close your account.
- If you have unsettled trades (trades that haven't completed their settlement period), you'll need to wait for those to settle before closing.
- Any pending transfers or deposits will delay the closure, so cancel or complete those first.
- Once you initiate closure, Robinhood typically finalizes it within a few business days, but the exact timing depends on your account activity.
Selling your holdings and withdrawing cash
The first step is to liquidate everything in your account. Open Robinhood, go to your portfolio, and sell all stocks, options, and cryptocurrency positions. You can sell individual holdings one at a time or use a bulk-sell feature if Robinhood offers it in your version of the app. Market orders execute immediately during market hours; limit orders may take longer or not fill at all if the price doesn't reach your target.
Once all positions are sold, your cash balance will update. Go to your Account menu, find the transfer or withdrawal section, and move all remaining cash to your linked bank account. Robinhood typically processes withdrawals within one to three business days, depending on your bank. Wait for the withdrawal to complete before you proceed to close the account.
If you have fractional shares, Robinhood will sell those too — you don't need to do anything special. However, if you have any unsettled trades (trades that are still in their settlement period, usually two business days), you'll need to wait for those to settle before you can withdraw the proceeds.
Canceling pending transfers and deposits
Check whether you have any pending transfers into or out of your Robinhood account. If you initiated a deposit that hasn't completed, cancel it through your bank or through Robinhood's transfer settings. If you initiated a withdrawal that's still pending, wait for it to complete or cancel it if Robinhood allows.
Pending activity can block account closure, so clearing these out first saves time. Go to your Account settings, find the Transfers section, and review anything marked as "pending" or "in progress." If you see anything there, either complete it or cancel it before moving forward with closing the account.
Finding the account closure option
Once your account is empty and you have no pending transfers, log into Robinhood and navigate to Account settings. The exact path varies slightly depending on whether you're using the mobile app or the web version, but it's typically under a menu labeled "Account," "Settings," or "Profile." Look for an option that says "Close Account," "Deactivate Account," or "Delete Account."
Tap or click that option. Robinhood will show you a confirmation screen that lists what needs to be true before you can proceed — usually that your cash balance is zero, all positions are closed, and no transfers are pending. If you see a message saying you can't close yet, go back and check that you've completed all the steps above.
Confirming closure and what happens next
After you click to close, Robinhood will ask you to confirm your decision, often by typing your account email or answering a security question. This is a final check to make sure you actually want to close the account and not just accidentally trigger the process. Once you confirm, Robinhood will send you a confirmation email.
The account closure itself usually completes within a few business days. During that time, you won't be able to log in or trade, but the account still exists in Robinhood's system until the closure is final. After closure is complete, you'll receive another email confirming that your account has been closed. At that point, you can no longer access any data or positions through Robinhood.
What to do if you can't close your account
If Robinhood won't let you close your account and you've already sold everything and withdrawn your cash, the most common reason is an unsettled trade or a pending transfer you missed. Go back to your Account settings and check the Transfers section again. Look for anything marked as "pending," "processing," or "in progress." If you find something, either wait for it to complete or contact Robinhood support to cancel it.
If you still can't close after checking transfers, contact Robinhood support directly through the app or website. Explain that you've sold all holdings, withdrawn all cash, and are ready to close, but the system won't let you. Support can sometimes manually clear blocks or complete the closure for you. Response times vary, but Robinhood typically replies within one to three business days.
Frequently Asked Questions
What happens to my tax documents after I close my account?
Robinhood keeps your tax documents (1099 forms, trade confirmations) available for download even after your account closes. You can usually access them through your account settings or by contacting support. Download any documents you need before closing, since accessing them afterward may be more difficult.
Can I reopen my account after closing it?
Yes, you can open a new Robinhood account after closing one. However, you'll start fresh — your old account data won't transfer over. If you closed because of a problem, contact support first to see if they can fix it, since reopening means losing your account history and any benefits tied to your original account.
Do I owe taxes when I close my account?
Closing your account doesn't create a tax event by itself. However, if you sold securities at a gain to empty your account, you may owe capital gains tax on those sales. Robinhood will report your trades on your tax forms, and you'll handle them like any other sale when you file.
What if I have a negative balance or owe Robinhood money?
If your account has a negative balance (you owe Robinhood money), you must pay that balance before closing. Robinhood will tell you the amount owed and how to pay it. You can usually pay through a bank transfer or by linking a payment method in your Account settings.
How long does it take to close my account after I confirm?
The closure typically finalizes within a few business days, though it can take longer if there are pending trades or transfers. Once Robinhood sends you a confirmation email saying the account is closed, it's complete and you can no longer access it.