A magnetic latching system selectively couples and releases an information handling system housing and lid by moving a magnet associated with one of the housing or lid relative to a ferrous metal in the other of the housing or lid to selectively apply magnetic attraction between the housing and lid. A latch retainer interfaced with the magnetic latching system retains the magnetic latch in a released position until the lid and housing approach a closed position and then allows the magnetic latch to return to a locked position, thus bringing the lid and housing to a securely closed configuration without slamming together due to the magnetic attraction between the magnet and ferrous metal.