There are no fees to cancel or transfer your Vanguard brokerage account. If you are considering closing your account or transferring it to another broker, make sure you sell your securities first or you can allow Vanguard to do this for you. To close your Vanguard account, contact a customer support agent at Vanguard who will be happy to assist you. However, if you are transferring to another broker, you can contact them for assistance.
If you would like information on how to close your Vanguard account, this article can help. It has a lot of important information about your Vanguard account.
Whether you are canceling an individual account or a regular brokerage joint account, Vanguard does not charge a closure fee, nor do they charge for closing retirement or non-retirement accounts. In addition, they don't charge a closure fee to cancel an IRA account, which applies to SEP, ROTH, IRA, and SIMPLE IRAs. However, all Motif Investing clients pay $95 charges to close their retirement account and Ally Invest clients pay $25.
The process for closing your Vanguard securities account is very straightforward. Before closing your account, you should liquidate your securities and then withdraw the proceeds. You can also allow Vanguard to sell the securities you have, but most clients sell their securities before submitting a closure request. Most Vanguard funds have no short-term redemption fee, but there are a few that may. There are also many funds with a minimum hold period. To avoid paying early liquidation fees, make sure your funds were held long enough before they are sold. There is a minimum holding period at Vanguard of no more than two months for most funds, while some funds have longer requirements.
When you want to close your account, click here to contact a customer support agent at Vanguard on weekdays from 8 am to 10 pm, as they do not have a chat function online. If you are outside of the United States, there is also an international phone number available. Keep in mind there is a time difference. There is also an internal messaging system on the Vanguard website. This system can be used for account issues or closure requests. If you would like to submit documents, the online form has an attachment feature available.
If you would like to transfer your Vanguard account to another firm, you will need to start the process with your new broker. Most companies charge a fee for an outgoing ACAT service. For example, Merrill Edge clients pay $49.95, and Wells Trade customers pay $95. However, Vanguard doesn't charge you to move accounts to other brokers. You will be required to fill out some paperwork at the new broker's request. You will need your account number at Vanguard and if you are only doing a partial transfer, you will also need the information for the specific securities you would like to move.
Many brokerage firms have an online form available for use. There are also many firms that will offer you an incentive for transferring your brokerage over to them. These firms will usually have a promotional link available that you can click to take advantage of their offer. If you require any assistance during the transfer, you can contact the new broker for help and if you have any problems on the Vanguard end, feel free to contact them.
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