Closing your account

Things to consider:

• If you are moving your Capital Bank and Trust Company (CB&T) IRA to another company, review Outgoing IRA transfers and rollovers for additional requirements and considerations
• If you are moving your CollegeAmerica® account to another institution, review Outgoing 529 rollovers and transfers for additional requirements and considerations
• Some account types, including CB&T 403(b) and ABLEAmerica®, are not eligible for online withdrawals
• Withdrawals from your account may result in tax reporting and/or taxes and penalties. Consult with your financial professional or a tax advisor prior to making financial decisions.
   

How to close your account

Accounts are considered “closed” after withdrawing all shares. Generally, you can request a withdrawal online, or you can contact us by phone or submit the request in writing. Requests to withdraw or distribute from your account(s) at Capital Group are generally processed on the same business day. Requests received after the close of the New York Stock Exchange are processed at the next business day’s price per share.

Review the appropriate account type for specific withdrawal requirements and considerations from CollegeAmerica and retirement accounts:

• CollegeAmerica 529
• Traditional and Roth IRAs
• SIMPLE IRA
• SEP IRA
• 403(b)
  
  

Consider talking to your financial professional before taking a withdrawal. They can help you make decisions that support your long-term financial plan.

After an account is closed:

• Once the withdrawal is processed, a confirmation is sent
• The account and any transaction history for the year, including the withdrawal(s), appear on your next quarterly statement and, if applicable, your year-end statement
• If applicable, tax forms are sent the year following the withdrawal(s), typically in the month of January. Review the tax form schedule to determine which form you will receive and when it will be available.
  Note: IRA and retirement plan transfers of assets do not generate a tax form.
• Closed accounts and any transaction history will remain viewable in your online account portfolio view for up to 2 years