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Personal Finance (Not Investing) • Cost efficient way to close brokerage accounts with small amounts?

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ACATS will do partial transfers. You specify which items and how much. ACATS all except $150 in cash. Wait until April 2025, after you get all the tax documents for 2024, then transfer $140 to your bank, then a month later to right after interest is credited, transfer the last $10. Not guaranteed to work, but often does.
This is a good tip. Could you explain why leaving $150 in cash? Is it the minimum amount required to get the tax document?
$150 is above their $100 fee point, so they are unlikely to do anything.

I had a WF Brokerage account with just $10 in it for a year just to maintain the history. It was an Estate Account.

Statistics: Posted by RetiredAL — Fri Jul 12, 2024 3:11 am — Replies 10 — Views 621



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