How to Close an Account with UMB HSA

When it comes to closing your Health Savings Account (HSA) with UMB, the process is relatively straightforward but may vary depending on certain factors. UMB HSA accounts provide individuals with a tax-advantaged way to save for medical expenses. If you decide to close your UMB HSA account for any reason, follow these steps:

1. Contact UMB Customer Service: Call the UMB HSA Customer Service number to speak with a representative who can guide you through the closing process. They will provide you with any necessary forms and instructions.
2. Complete Closure Form: Fill out the closure form provided by UMB. This form typically requires your account information, reason for closing, and any additional details.
3. Submit Documentation: Some HSAs may require supporting documentation, such as proof of account ownership or a valid ID. Be sure to submit any required documents to finalize the closure.
4. Transfer Funds: If you have remaining funds in your UMB HSA account, decide whether to transfer them to another HSA or withdraw them. UMB may have specific guidelines for fund transfers.
5. Verify Closure: Once you have completed all necessary steps, verify with UMB that your account has been successfully closed. Keep any confirmation or reference numbers for your records.

Remember, before closing your UMB HSA account, consider any potential impact on your taxes or future healthcare expenses. It's essential to plan accordingly and understand the implications of closing your HSA.

Closing your UMB Health Savings Account (HSA) can be a simple process if you follow these essential steps. Always remember that UMB provides personalized guidance, making it easier to navigate the closure. Start by reaching out to UMB Customer Service.