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

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, please indicate checking, savings, or money market
  • Phone number you can be reached at, if we have questions
  • Date of the request
  • HSA Owner’s signature
The written request can be emailed, faxed,or mailed to:
Email is:
Fax Number is: 707-541-2679   
Mailing Address: Redwood Credit Union
Attn: Retirement Services Dept.
PO Box 6104
Santa Rosa, CA 95406-0104

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 Retirement Services at 707-576-5362