Closed account now showing assets and money back in it.

Arpit

I have an HSA-investment account that I CLOSED and transferred all funds out of and into another account (i see the matching transfer in that new account), but recently I was looking at my closed account list and it looks like that closed HSA-investment account shows that there are now investments in it, and has a value.

1. How do i zero out the funds in a closed account, cant seem to do it.
2. How do i fix this?

Frankx

Hi @Arpit,

First, I would suggest that you look at the entries in the account that you had closed and try to determine where they came from, because they may be transactions that belong in another account.  When you "closed' that account, did you deactivate downloads?  If not, and you continue to do One Step Update, you may find new transactions there that will need to be moved.  Or you may have inadvertently moved transactions into that account by mistake,  So try to get to the bottom of that issue and then deal with closing the account for good, which - if there are no transactions in it - you can simply delete it as follows:

1) Open the account register;
2) Click on the "Gear" icon in the upper right;
3) Select "Account Details";
4) At the bottom of the pop-up window - click the "Delete" button;
5) Confirm the account delete by typing "yes"

That's it.

Frankx

Frankx

Hi @Arpit,

First, I would suggest that you look at the entries in the account that you had closed and try to determine where they came from, because they may be transactions that belong in another account.  When you "closed' that account, did you deactivate downloads?  If not, and you continue to do One Step Update, you may find new transactions there that will need to be moved.  Or you may have inadvertently moved transactions into that account by mistake,  So try to get to the bottom of that issue and then deal with closing the account for good, which - if there are no transactions in it - you can simply delete it as follows:

1) Open the account register;
2) Click on the "Gear" icon in the upper right;
3) Select "Account Details";
4) At the bottom of the pop-up window - click the "Delete" button;
5) Confirm the account delete by typing "yes"

That's it.

Frankx

Arpit

@Frankx

Thank you for the response.

I have confirmed that no entries in the account since it was closed back in April. I had deleted it. The holdings & values in the account were set to '0' when I closed the accoutn back in April.

If i 'delete' the account will that delete the history of the account that I may need for tax purposes? I assume its fine as I'll be getting a tax document, but would like to understand why this has happened 6-months after the account was zero'd out.


Thank you,

Frankx

Hi again @Arpit,

I think I my have misinterpreted your original post.  From what you've just said, apparently the account did not have a balance after the transfers out, but it now has "investments" that have "value". In addition, there are old transactions still in the register.  And, while you believed that you "transferred all funds out of" it, for some reason that is not the current situation.

Based on that, I would continue to suggest that you determine why it still has "value" and deal with that issue.  You can use the directions I gave above for that piece.

On the issue about potentially deleting the account - since there are historical transactions in the account (I thought that you had moved them) I would not recommend deleting it, because you may need to refer to those if, for example, you are audited or have a need for other account information in the future.  Instead, you can close the account in Quicken.

Frankx

Arpit

Thank you @Frankx

Yes; I have gone back and looked. There are no new or duplicate transactions. I had sold all holding in this account to transfer the funds, and now they're all back. I'll need to dig in to see all the purchases by fund to go to each individual entry to fix. For now I've kept this account closed and moved it to not be included in my total account value.

Frankx

Hi @Arpit,

I learn a little more each time you post.  So this is an  investment type account - right?  And you say that you "sold all holding[s] in this account" and then "transfer[red] the funds".  But now the account still has all the holdings.

Does the account have the same value in it as when you sold all the holdings, or is the value and the number of shares in each fund less than before?  Is it possible that "all the funds are back" because your employer is still making deposits into the "old" HSA account instead of putting them in your new account?  

Frankx