Yes, you can close your HSA at any time. Please follow the steps below.
- Complete the HSA account closure form and email it it support@joinforma.com. Please note that a $25 account closure fee will be applied.
- Liquidate all investments.
- Once you close the account and receive the remaining balance, you will have 60 days to deposit your funds into another HSA in your name or use the funds for qualified medical expenses, otherwise funds not deposited into another HSA will be included in your gross income and may be subject to an additional 20% tax.