How do I move an account from an existing AWS Organization to another AWS Organization?

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I want to move my member account from an existing AWS Organization to another Organization.

Short description

Prerequisites

Check these prerequisites before you migrate an AWS account from an existing Organization to new Organization:

You have the necessary permissions to move both the management and member accounts in the Organization. For example:
DescribeOrganization: This is required only when using the AWS Organizations console.
LeaveOrganization: The Organization's administrator can apply a policy to your account that denies permission to remove your account from the Organization.
Note: If you can't leave the Organization, contact AWS Support.
If you sign in as an AWS Identity and Access Management (IAM) user, make sure you have these permissions: aws-portal:ModifyBilling and aws-portal:ModifyPaymentMethods. Also, the member account must have an activated IAM user access to billing. For more information, see About IAM Access to the AWS Billing console.
You backed up any reports from the member accounts that you must keep. The member accounts can't access these reports after leaving the Organization.
You have a valid payment method on the member account to address any charges that you incur while you migrate the account.
You've reviewed and updated the tax information for any accounts that are changing from one Organization to another.
You've changed the AWS Support plan for migrating developer or business accounts.

Resolution

Important: If you have a pricing agreement with AWS and want to move your management account to a different Organization, contact your Account Manager.

Check these considerations before you begin:

For information on account access, see Considerations before removing an account from an organization.
Note: If an account joins a new organization, the Service Control Policy (SCP) of the organization applies to the migrating account.
For information on reporting considerations, see Cost and Usage Reports, Detailed Billing Reports, or reports generated by AWS Cost Explorer that you want to keep.
For information on billing requirements, see Effective billing date, account activity, and volume discounts.
Note: The account used to purchase the Savings Plan/RI owns the Plan. If you leave the Organization, then the Savings Plan/RI remains on the account that purchased it. For help with updating the payment method for the member account, contact AWS Support.
For information on tax considerations, see How do I add or update my tax registration number or business legal address for my AWS account?
To share resources with a migrating account, you must turn on resource sharing with AWS Organization before you migrate the account. For more information, see Sharing your AWS resources.
Before you migrate the account, consider the number of accounts in your organization. For more information on quota limits for Organizations, see Quotas for AWS Organizations.

Migrate developer or business accounts

Note: It's a best practice to change your AWS Support Plan for a migrating developer or business account. If you don't want to be billed for migrating a developer or business account, then change or cancel its existing AWS Support Plan. For more information, see How do I cancel my AWS Support plan?

Plan the migration process

Follow these steps to plan your migration process:

Use the AWS Organizations console if you have only a few accounts to migrate.
If you're migrating many accounts, then use the AWS Organizations API or AWS Command Line Interface (AWS CLI) to move the accounts instead.
Note: If you receive errors when you run AWS Command Line Interface (AWS CLI) commands, then see Troubleshoot AWS CLI errors. Also, make sure that you're using the most recent AWS CLI version.

In either case, perform these actions for each member account:

If you want the management account of the old organization to also join the new organization, then perform these actions:

Remove the member accounts from the organization using the preceding process.
Delete the old organization.
Repeat the preceding process to invite the old management account to the new organization as a member account.