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
The written request can be either faxed or mailed to:
Fax Number is: 707-576-5024 – Attn: HSA Dept.
Mailing Address: Redwood Credit Union
  Attn: HSA Dept.
  PO Box 6104
  Santa Rosa, CA 95406-9985

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.