How do I close my Health Savings Account (HSA)?

To close your HSA a written request must be submitted by the HSA Owner. We will need the following information in your letter to process your request:

• How are the funds to be disbursed:
  • By Check and mailed to the address on the account or
    Transfer the funds into your RCU account, plus include the share ID number.
• Phone number you can be reached at, if we have questions
• Date of the request
• HSA Owner’s signature

You may come into any one of our branches and meet with one of our Member Service Representatives (MSR) and they will complete an HSA Withdrawal Instruction Form #2606H for you to sign.

If my account has a zero balance, is that considered closed?
No. We must receive a written request to close your Health Savings Account (HSA). Writing a check to bring your account balance to a zero does not close the HSA account.

Note: If you want to have your HSA transferred to another Institution, go to “How do I transfer my Health Savings Account (HSA) from Redwood Credit Union to another Institution”.

If you have any questions, please call Investment Services at 707-576-5040.