How do I close my M1 Finance account?

Sell or transfer all holdings, withdraw cash, cancel M1 Premium, then contact support to close the account.

Can I transfer my M1 Finance holdings to another broker?

Yes - initiate an ACATS transfer from your new broker to move holdings without selling, avoiding taxes.

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Cancellation guide · Updated 2026

How to Close M1 Finance

Last verified May 2026 · Sell or transfer holdings first

CancelNest Editorial
Reviewed & updated June 2026

Moderate - sell or transfer holdings first

Close your M1 Finance account

1
Sell or transfer your investments first
You cannot close an investment account with open positions. Either sell all holdings or initiate an ACATS transfer to another broker.
2
Consider ACATS transfer to avoid selling
An ACATS transfer moves your holdings to another broker without selling, avoiding potential taxes on gains. Your new broker initiates this.
3
Withdraw your cash balance
Transfer any cash in your M1 account to your linked bank.
4
Cancel M1 Premium if active
M1 Finance has a premium subscription ($3/month). Cancel it in Settings → Subscription before closing the account.
5
Request account closure in the app or via support
Open M1 Finance → Settings → Help → Contact Support to request account closure, or email support@m1.com.

Selling holdings may trigger taxes - consider ACATS transfer

If you have gains in your M1 taxable account, selling everything creates a taxable event. An ACATS transfer moves positions to another broker in-kind, avoiding selling. Decide based on your tax situation before closing.

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Last verified - May 2026

M1 Finance account closure process

M1 Finance requires all positions to be liquidated or transferred before closing. Download your tax documents (1099 forms) before closing - you will need them at tax time. M1 does not retain account access after closure.

Frequently asked questions

How do I close my M1 Finance account?: Sell or transfer all holdings, withdraw cash, cancel M1 Premium, then contact support to close the account.
Can I transfer my M1 Finance holdings to another broker?: Yes - initiate an ACATS transfer from your new broker to move holdings without selling, avoiding taxes.
Does M1 Finance have fees to close an account?: There may be an outgoing ACATS transfer fee. Check current fee schedules in your account.