The tumultuous economic climate has created a situation in which banks and investment companies are abruptly closing at a moment's notice. This economic emergency has prompted many people to take a second look at their investments and determine whether it is time to close some accounts while they still have some money left them. It is important to know properly manage and close your investment accounts in order to avoid any extra charges or penalties.
Instructions
1. Read your investment account's application and contract to find out about any fees associated with closing your account. It is best to know what you'll have to pay to close the account in order to prevent sticker shock when you don't get a check for the entire account balance.
2. Check the account's application and contract for any specific rules or procedures for closing the investment account. Some institutions require that you follow explicit rules in order to successfully close your account.
3. If you don't see any specific directions for closing your investment account, write a letter to the company that is holding your investment account. The letter should state that you would like your shares sold, the account closed and the monies sent to you via a check. You can also opt to pick up the funds if there is an office near you.
4. Print out the letter, place it in a stamped envelope that is addressed to your investment account institution, and mail your request.
