Closing a Boursorama PEA: Complete and Updated Guide 2025

The closure of a Plan d'Épargne en Actions (PEA) at Boursorama, now known as BoursoBank, is a strategic operation for individual investors. This comprehensive guide details the tax implications, fees, procedures, exceptional cases, and best practices to make an informed decision and optimize your wealth management strategy.

What is a PEA at Boursorama/BoursoBank?

The PEA allows investment in European financial markets while benefiting from tax advantages after a holding period of five years. Boursorama offers several types of PEA: the classic PEA, the PEA-PME-ETI, and the PEA for Young Investors. Each type caters to different profiles and objectives based on the amount invested, desired diversification, and the investor's personal situation.

  • Classic PEA: maximum deposit of €150,000
  • PEA-PME-ETI: dedicated to French and European SMEs and ETIs, specific cap
  • PEA for Young Investors: reserved for those aged 18-25 attached to the same tax household, reduced cap

A PEA is a tax envelope that allows investment in French and European stocks as well as certain eligible funds. Returns are optimized as the plan ages due to tax carryover benefits.

Why Close a Boursorama PEA?

The main reasons for closing a PEA at Boursorama are:

  • Necessity for immediate liquidity for projects (real estate, entrepreneurship)
  • Change in personal circumstances (divorce, expatriation, death)
  • Tax optimization after five years
  • Irregularities in the functioning of the plan (non-conforming deposits, ineligible operations)
  • Dissatisfaction related to performance or fees

Depending on the age of your plan and your profile, the impacts of closure vary significantly: tax implications, access time to funds, consequences on long-term investments, etc.

Official Procedure for Closing a Boursorama/BoursoBank PEA

The closure of a Boursorama PEA proceeds through several steps:

  1. Submit a written request, dated and signed, to Boursorama (BoursoBank). This request should be accompanied by a front and back copy of your current ID card.
  2. Ensure that no order is pending on the held securities. All operations must be settled and delivered.
  3. Boursorama proceeds with the liquidation of remaining shares (sale or transfer according to your request).
  4. The available funds are automatically transferred to your BoursoBank current account.
  5. After document verification and effective closure, your PEA is closed.

In case of illiquid securities (PEA-PME-ETI): the process may take longer, as selling non-listed or less liquid securities can take several weeks or months.

Model Closure Letter

It is recommended to use a model closure letter, available on many specialized institutional websites.

Fees for Closing a Boursorama PEA: Beware of Misconceptions

The Pacte law sets a maximum fee of €150 for closing PEA accounts at all banking institutions. However, Boursorama/BoursoBank has an advantageous policy in this regard: the standard closure of a PEA account at BoursoBank is free, or €0 in closing fees.

Key Points:

  • Standard closing fee: €0 at Boursorama/BoursoBank
  • Legal cap for other banking institutions: up to €150
  • Additional fees may apply due to the sale of securities based on the type of order and market (PEA-PME, unlisted stocks)

Closure Delays: Practical Realities

In contrast to some claims, PEA closure is never instantaneous. The average delay varies from a few days to several weeks, depending on:

  • The completeness of the request and supporting documents
  • The liquidation of remaining securities (depends on the liquidity of the securities)
  • The state of stock operations and settlements/deliveries
  • Special cases (death, disability, expatriation, etc.)

Taxation Upon Closure: Exact Rules

PEA Closure Before 5 Years

  • Partial or full withdrawal before 5 years: automatically closes the PEA
  • Flat tax: 30% on capital gains (12.8% income tax + 17.2% social charges)
  • Exception: cases of force majeure (disability, business creation, death, withdrawal of securities in judicial liquidation, etc.), exemption or adapted taxation in certain cases

PEA Closure After 5 Years

  • No income tax on gains generated after 5 years of holding
  • Social charges: 17.2% on capital gains, applicable upon closure
  • Possibility of partial withdrawals without automatic closure of the plan
  • The tax history is reset to zero if you open a new PEA after closure

Taxation in Case of Death

  • No income tax on capital gains realized in case of the holder's death
  • Gains remain subject to social charges
  • Automatic closure of the PEA, with the balance transferred to beneficiaries

Maximum Contribution Amount for Standard PEA

  • Cap: €150,000 for a standard PEA. This cap does not apply to contributions to PEA PME-ETI.

Special Cases to Know

Automatic Closure Cases

  • Death of the holder
  • Disability of the holder or spouse/partner
  • Transfer of tax residence outside of France (according to tax treaty)
  • Total withdrawal or repurchase before 5 years
  • Failure to comply with operating conditions

Status of Illiquid Securities

  • Certain unlisted stocks and small/mid-cap company stocks can delay the liquidation process
  • In the context of PEA PME-ETI, the lack of liquidity on certain assets can generate additional delays

PEA Insurance vs. PEA Banking

  • The closure procedure for a PEA insurance is different from that of the bank-managed PEA (managed by the insurer)
  • Closure is possible at any time, but specific procedures apply (request to the insurer, tax implications of partial or full withdrawals)

FAQ: Frequently Asked Questions about Closing a Boursorama PEA

Can a PEA be closed before 5 years?

Yes, it is always possible to close a PEA at any time, including before the fifth anniversary. However, the tax consequences are significant: you lose the tax advantage on capital gains, except in exceptional cases.

How long does it take to close a PEA at Boursorama?

The duration depends on the situation: generally, it takes a few days to several weeks depending on the liquidation of assets and the completeness of the request. Longer periods are mainly related to the case of non-listed shares or PEA SMEs.

Are closure fees waived at Boursorama/BoursoBank?

Boursorama does not charge any closure fees for a standard bank-managed PEA. However, additional fees may apply in specific cases or for the sale of certain securities.

What are the tax consequences of a partial withdrawal after 5 years?

After five years, a partial withdrawal of funds no longer automatically closes the PEA. Gains are exempt from income tax but remain subject to social security contributions.

What happens in the event of the holder's death?

The PEA is automatically closed and the amounts are paid to the beneficiaries. Gains are exempt from income tax but social security contributions remain due.

Strategies and Alternatives to Closing a PEA

Before making a decision to close, it is recommended:

  • To evaluate your liquidity needs and your wealth management objectives
  • To check the holding period of your plan: tax benefits change significantly beyond five years
  • To consider transferring the PEA to another institution (possible but subject to compliance with the procedure)
  • To opt, if necessary, for partial withdrawals after five years to preserve tax advantages
  • To consult the updated fee schedule brochure to monitor changes in fee policy

Checklist for a Smooth Closure

  • Ensure that all your stock orders are executed and settled
  • Prepare a dated, signed written request with identification documents
  • Evaluate the tax impact: withdrawal before or after five years, wealth management consequences
  • Anticipate the liquidation of illiquid securities (case of PEA SMEs)
  • Consult a wealth management advisor if the plan has specific features

Conclusion: Optimizing the Closure of Your Boursorama/BoursoBank PEA

Closing a PEA with Boursorama/BoursoBank is an operation available at any time, subject to specific documentation requirements and variable tax implications based on the opening date and the nature of the investments. Thanks to the 0 € closing fees at Boursorama/BoursoBank, this operation is often more advantageous with this institution than with other banks. However, the liquidity of the shares and the timeframes remain important factors to monitor.

Be sure to carefully evaluate the tax implications, available alternatives, and long-term consequences to best preserve your estate interests. A one-time consultation with an investment professional or Boursorama/BoursoBank customer service can also secure your approach.

Do not hesitate to keep this guide for any future decisions regarding the management or closure of your Plan d'Épargne en Actions.