Cloud storage Q
How do I turn off the 5GB of cloud storage since my company is no longer paying for the additional service?
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The default 5GB of iCloud storage is provided completely free of charge with your Apple ID. As such, there's no way to 'cancel' it (nor would you want to, I think).
If you had a larger iCloud+ plan, and want to downgrade to the free 5GB iCloud plan, see here - Downgrade or cancel your iCloud+ plan - Apple Support