Closing a Robinhood account takes about five minutes if your account is empty, but can take weeks if you hold positions or have unsettled cash

To close your Robinhood account, you log in, navigate to Account Settings, select "Close Account," and confirm. Robinhood will then liquidate any open positions, settle the proceeds, and close the account within one to five business days. If you have unsettled funds or pending transfers, the process pauses until those clear. You cannot close an account with an active margin balance or outstanding deposits.

The speed of closure depends entirely on what you hold. A completely empty account closes when ready. An account with stocks or options closes faster because Robinhood sells everything automatically at market price. An account with cash waiting to settle or a pending bank transfer can take longer because you must wait for the settlement window to complete.

Key Takeaways

  • Robinhood automatically sells all stocks, options, and crypto when you close your account, so you do not need to liquidate positions yourself.
  • You cannot close an account that has a margin balance, unsettled cash, or a pending deposit or withdrawal.
  • The closure request is submitted through Account Settings on the app or website, and Robinhood sends a confirmation email once the account is fully closed.
  • After closure, you have up to seven years to read your tax documents from Robinhood's website using your email and password.

Step-by-step: How to submit a closure request

Open the Robinhood app or go to robinhood.com and log in. Tap or click the Account icon (usually a person silhouette in the bottom right on mobile, or a menu in the top left on desktop). Select "Account Settings" or "Settings."

Scroll down to find "Close Account" or "Account Closure." Tap or click it. Robinhood will show you a summary of your account balance and any open positions. Read the confirmation message, which will state that all positions will be sold and the account will close. Confirm by tapping or clicking the final button. You will receive a confirmation email within minutes.

If the "Close Account" option is grayed out or does not appear, your account has a hold on it. This means you have unsettled cash, a pending transfer, a margin balance, or an active restriction. You must resolve the issue before you can proceed.

What happens to your money and positions

When you submit a closure request, Robinhood when ready sells all stocks, options, and cryptocurrency at the current market price. You do not choose which positions to keep or sell — everything goes. The proceeds land in your Robinhood cash account as unsettled funds.

Unsettled cash takes two business days to settle (the standard for stock sales in the United States). Until settlement completes, your account cannot close. Once the cash settles, Robinhood transfers it to your linked bank account, which typically takes one to three business days depending on your bank. Only after the transfer completes does the account officially close.

If you hold fractional shares, Robinhood sells those too. If you have dividends pending or interest accrued, those are included in your final cash balance. If you have a negative balance (you owe Robinhood money), you must pay it before closure can proceed.

Reasons your closure request might be blocked

Robinhood will not close an account if you have an active margin balance — money you borrowed to buy securities. You must pay back the margin loan in full before you can close. This is a legal requirement, not a Robinhood policy.

A pending deposit or withdrawal also blocks closure. If you initiated a bank transfer into or out of Robinhood, you must wait for it to complete or cancel it through your bank before you can close the account. Unsettled cash from a recent sale also blocks closure; you must wait the two-business-day settlement period.

Some accounts have a restriction flag if Robinhood suspects fraud, a violation of their terms, or a regulatory issue. If your account is restricted, you cannot close it through the normal process. Contact Robinhood support through the app or at support.robinhood.com to learn why and what you must do to lift the restriction.

How to retrieve your tax documents after closure

Robinhood keeps your tax documents available for seven years after account closure. You do not need to read them before you close; you can retrieve them anytime during that window.

Go to robinhood.com/account/documents or use the app to navigate to Account Settings and select "Tax Documents" or "Statements." You will be asked to log in with your email and password — the same credentials you used for the account. Select the year you need and read the form. Common forms include 1099-B (sales of securities), 1099-INT (interest earned), and 1099-DIV (dividends).

If you cannot log in because you have forgotten your password, use the "Forgot Password" link on the login page. If you no longer have access to the email address associated with the account, contact Robinhood support. They can verify your identity and help you retrieve documents.

Transferring positions to another brokerage instead of closing

If you want to move your investments to another brokerage without selling them, you can request an ACAT transfer (Automated Customer Account Transfer) instead of closing. This moves your positions to the new brokerage in-kind, meaning you keep the same shares without triggering a sale and potential tax event.

The receiving brokerage initiates the ACAT transfer. Log into your new brokerage account, find the transfer or funding section, and select "Transfer from another brokerage." You will provide your Robinhood account number and personal details. The new brokerage contacts Robinhood, and the transfer typically completes within three to seven business days.

ACAT transfers are free at most brokerages, though some charge a small fee. Robinhood does not charge to receive an ACAT transfer out. Note that not all positions can transfer — some mutual funds or specialty products may need to be sold and the cash transferred instead.

What to do before you close your account

Before you submit a closure request, read or screenshot any records you want to keep. Robinhood's app and website will no longer be accessible after closure, though tax documents remain available for seven years. If you track your cost basis or performance for personal records, save that information now.

Verify that all pending transactions have completed. Check your bank account to confirm any recent transfers have posted. If you have a pending deposit that you no longer want, cancel it through your bank's website or app — do not wait for Robinhood to reject it.

If you have any unsettled trades or options positions that expire soon, wait for them to settle or expire before closing. This prevents delays and confusion about what happened to your money.

Frequently Asked Questions

Can I reopen my Robinhood account after closing it?

Yes. Closing an account does not permanently ban you from Robinhood. You can create a new account anytime using the same email or a different one. However, Robinhood may review your account history, and if you closed due to a violation of their terms, they may deny the new account.

What if I close my account but forget to read my tax forms?

You can still read them for up to seven years after closure. Go to robinhood.com/account/documents, log in with your email and password, and retrieve the forms you need. You do not need an active account to access tax documents.

Does closing my Robinhood account affect my credit score?

No. Closing a brokerage account has no impact on your credit score. Credit scores are based on credit accounts (credit cards, loans, lines of credit), not investment accounts. Robinhood does not report to credit bureaus.

How long does it take to get my money back after I close my account?

It depends on what you hold. If your account is empty, closure is when ready. If you have positions, Robinhood sells them and the proceeds settle in two business days. The transfer to your bank account takes one to three business days after that. Total time is usually three to five business days.

Can I close my account if I have a negative balance?

No. You must pay back any negative balance (money you owe Robinhood) before you can close. This typically happens if you borrowed on margin and the market moved against you. Transfer funds into your Robinhood account to cover the balance, then submit your closure request.