How do I permanently delete my acorns account?

Pre-Deletion Checklist: What to Do Before Closing Your Account

Review Your Investments

Before closing your Acorns account, thoroughly review your portfolio to understand your holdings and performance. Access your investment dashboard to check asset allocation, gains/losses, and recurring contributions. This helps avoid unintended liquidation of assets or missing tax-saving opportunities. Liquidate investments by initiating a full withdrawal request through the app’s settings menu.

Withdraw All Funds

Transfer your entire balance to avoid forfeiting funds or incurring dormant account fees. Initiate a withdrawal via the “Withdraw & Transfer” option in your Acorns settings, specifying the full amount. Note that transfers take 3-6 business days to reach your linked bank account. Verify the transfer completion in your bank statement before proceeding with deletion.

Understand the Consequences

Closing your account permanently erases your financial history, tax documents, and round-up data. You’ll lose access to Acorns’ tools like Later retirement accounts and Found Money partnerships. Additionally, expect tax implications: liquidated investments trigger capital gains taxes. Consult a tax advisor if your portfolio exceeds $1,000 in gains to estimate liabilities.

Warning: Deleting your account is irreversible. Acorns states, “Once closed, you cannot reactivate your account or retrieve historical data.”

For step-by-step deletion instructions, visit our detailed guide: How to Permanently Delete Your Acorns Account.

Step-by-Step Account Deletion Walkthrough

Withdraw All Funds
Transfer your entire balance to your linked bank account. Navigate to Withdraw > One-Time Withdrawal and select “Transfer All Money Out”[Source: Acorns Help Center].
Cancel Recurring Investments
Go to Recurring Investments in Settings and disable automatic deposits to prevent new funds from entering your account[Source: Investopedia].
Submit Account Closure Request
- App: Tap your profile icon > Support > Contact Support. Type “Close Account” and follow prompts to submit a request.
- Web: Log in > Help Center > search “Close Account” > complete the closure form[Source: Acorns Help Center].
Confirm via Email
Acorns will email a verification link. Click to confirm permanent deletion. Accounts typically close within 3–5 business days[Source: NerdWallet].

Note: Unused referrals or subscriptions (e.g., Acorns Later) must be canceled separately. For tax implications, consult our guide on Acorns account deletion.

Video Guide to Acorns Account Deletion

Fund Withdrawal & Tax Implications

Withdrawing Your Remaining Funds Safely

To withdraw funds from your account, start by liquidating investments through your brokerage platform. Initiate a withdrawal request via the “Transfer” or “Withdraw” section, specifying the amount and destination bank account. Ensure your linked bank account is verified to prevent delays. Processing times vary—ACH transfers typically take 1-3 business days, while wire transfers are faster but may incur fees. For security, enable two-factor authentication (2FA) and confirm withdrawal requests via email or SMS.

Tax Implications of Selling Investments

Selling stocks, bonds, or mutual funds triggers capital gains tax. Short-term gains (assets held ≤1 year) are taxed as ordinary income (up to 37%), while long-term gains (held >1 year) face lower rates (0%, 15%, or 20%) based on income. Report sales via Form 8949 and Schedule D when filing taxes. Losses can offset gains—deduct up to $3,000 annually against ordinary income (Source: IRS).

Tax Considerations for Account Closure

Closing an investment account may incur penalties:

Early withdrawal fees: For retirement accounts (e.g., 401(k), IRA) if under age 59½ (10% penalty plus income tax).
Unrealized gains: Liquidating assets before closure crystallizes gains/losses.
State taxes: Some states tax investment income (e.g., California, New York). Consult a tax professional to strategize timing or use tax-loss harvesting.

Note: Brokers issue Form 1099-B detailing sales proceeds and cost basis. Retain this for tax filing.

For account-specific steps, see our guide to closing your Acorns account.

Post-Deletion Timeline & Account Status

Immediate Effects

After submitting your Acorns account deletion request:

Account Access Loss: You immediately lose access to your portfolio, investments, and Round-Ups®. Attempting to log in will fail, and any scheduled deposits are canceled [Source: Acorns Support].
Funds Handling: Your remaining balance is liquidated (may take 3-5 business days). Proceeds are sent via check or bank transfer to your linked external account [Source: Investopedia].

Verifying Account Closure

Confirm your account is closed by:

Checking for an official confirmation email from Acorns (sent within 24 hours).
Attempting to log in—a “disabled account” error confirms closure [Source: Acorns Help Center].
Monitoring your linked bank account for the final withdrawal.

Data Removal Timeline

30 Days: Personal data (name, email, phone) is anonymized in Acorns’ systems [Source: SEC Filing].
7 Years: Federally mandated financial records (tax documents, transaction history) are retained for compliance before permanent deletion [Source: FINRA Rule 4511].

Note: For related guidance, see our step-by-step guide to permanently deleting your Acorns account.

Alternative Solutions to Account Deletion

When permanent deletion feels too drastic, most platforms offer reversible alternatives:

Pausing: Freeze activity without losing data (e.g., Amazon subscriptions or prepaid services). Ideal for short breaks.
Downgrading: Switch to free tiers to retain core access (e.g., AWS Free Tier or Spotify Basic). Preserves history while reducing costs.
Temporary Deactivation: Hide your profile with reactivation options. Instagram (up to 30 days), Facebook, and LinkedIn support this.

Key benefits: Retain data ownership, avoid re-verification hassles, and resume seamlessly. Services like Tumblr and Snapchat even let you restore content post-reactivation.

Note: Check platform-specific policies—downgraded subscriptions may lose premium features (Fitbit), while paused accounts could auto-delete after inactivity periods (Gmail).