Closing an IDPS account

To close an Investor Directed Portfolio Service (IDPS) account, the client must provide an explicit closure instruction listing:

  • Account name and number
  • Crediting account details
  • Signature of the account holder(s) – signed in accordance with the signing instructions.

You can search for a 'closure form' in Adviser Tools.

How long will this take?

Closing an IDPS account generally takes around six days (where clients hold a combination of cash and assets); however, factors like selling or transferring assets can extend the closure timeframe.  

Processing times begin only when all necessary requirements for a request have been received. To avoid delays, please ensure all forms are completed, and supporting documents uploaded, before submitting the request.

For information on how to avoid delays, please see Close a Wrap account.

What's the adviser's role?

As an adviser before requesting to close an Investor Directed Portfolio Service (IDPS) account, you must:

  • Sell down or transfer all assets
  • Ensure all transactions have finalised
  • Turn off automatic investment plans
  • Cancel Dividend Reinvestment Plans (DRP)
  • Consider outstanding corporate actions that may be on the account.

View closure forms on Adviser Tools. You can see the Corporate Actions Calendar and find more information about upcoming actions.

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