This guide explains how to close different types of M1 accounts, including Invest, IRA, Margin Loan, and High-Yield Savings accounts. Please carefully follow the steps below to ensure your account is properly closed.
Closing M1 Invest accounts (Individual, Joint, or IRA)
Before requesting to close an M1 Invest (Individual, Joint, or IRA) account, you must either liquidate your investments and withdraw funds or transfer your holdings to another brokerage.
Once an investment account’s value is less than $1 you can request to have it closed. If you're chatting while logged in, simply type "close account" in our Messenger and answer the prompts that follow.
To start a new conversation, please log in and click "Help" in the lower left corner on Web or tap "Client Support" in your account settings on Mobile.
Note: If you have an open M1 High-Yield Savings Account or M1 High-Yield Cash Account, you must keep at least one M1 Individual or Joint Invest account open.
Closing M1 Margin Loan accounts
You must pay off any outstanding Margin Loan before closing a margin-enabled account.
How to pay off Margin Loan:
Go to the Borrow tab in your M1 account.
Select Pay Back and follow the payment instructions.
Once your loan balance is $0, you may follow the Invest account closure instructions above.
Closing an M1 Earn account
You must withdraw all funds from your M1 High-Yield Savings Account before closure.
Once your High-Yield Savings Account’s value is $0, you can request to have it closed. If you're chatting while logged in, simply type "close account" in our Messenger and answer the prompts that follow.
To start a new conversation, please log in and click "Help" in the lower left corner on Web or tap "Client Support" in your account settings on Mobile.
M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors. Past performance does not guarantee future performance.
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
SAIF-08262025-rji9fjyp