1% IRA Match

This year, aspire to
retire a millionaire.

With a 1% IRA match on rollovers and contributions1 - plus the power of compound returns-investing $7K a year for 40 years could put you on the path to retiring a millionaire.2

Get a 1% match

2The S&P 500 Index return does not include the reinvestment of dividends or account for investment fees, expenses, or taxes, which would reduce actual returns.

1Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.

Find the right fit for your investing style.

When it comes to managing your IRA with SoFi, you've got options. Choose the approach that best fits your goals, comfort level, and how involved you want to be.

  • Self-Directed IRAs
    (HANDS-ON)

    Take control of your investment choices. With a self-directed IRA, you pick your own stocks, ETFs, and funds. Ideal if you enjoy researching investments and want a hands-on role in managing your portfolio.
    Provided by SoFi Securities LLC.

    Open a Self-Directed IRA

  • Automated IRAs
    (HANDS-OFF)

    Prefer a more hands-off approach? Our automated option uses SoFi's robo advisor to build and manage a portfolio for you based on your goals, timeline, and risk tolerance. It's a smart, convenient, and keeps your investments on track.
    Provided by SoFi Wealth LLC.

    Open an Automated IRA

SoFi doesn’t provide tax or legal advice. Individual circumstances are unique.
Consult with a qualified tax advisor or attorney about your specific needs.

The power of
compound returns.

It's all due to one simple, yet powerful, idea: The longer your money stays in market, the more you could earn. Why? Because you’re getting returns on both your original contribution, plus the interest earned year over year.

Let's walk it out: If you invest $7K in an IRA that returns 7%—the historical rate of return for the S&P 500 Index—you could earn $490 in returns the first year. The following year, you could earn 7% on $7,490, which is $524, bringing your overall balance to $8,014. In year three, you could earn 7% on $8,014, and so on.2

Making the max annual IRA contribution could help you reach millionaire status in retirement. Add our 1% match on top, and you're retiring in style.

Get a 1% match

Are you investing enough to retire in style?

Use our calculator to see how much you need to invest each year to reach your retirement goals.3

How our retirement calculator works.




See what a 1% IRA match on rollovers1 can do for you.

Begin rollover

1Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer.

Is your 401(k) collecting dust? Roll it over with a 1% match.

Abandoned 401(k) accounts exceed $1.65 trillion—don’t let yours be one of them. Roll over your 401(k) into a SoFi IRA and get a 1% match on every dollar.1

Don't have a SoFi IRA? Open an account to get started—otherwise, begin the rollover process now.

Contribute now

Begin rollover

1Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer.

Here's how it all works:

An individual retirement account (IRA) gives you tax advantages when it comes to saving and investing money for your retirement. With a traditional IRA, your investments have the opportunity to grow tax-deferred with before-tax contributions. A Roth IRA offers tax-free growth potential on after-tax contributions.

Each year, the IRS sets a maximum amount that you can contribute across all of your IRAs, including those outside of SoFi. For 2024 and 2025, the contribution limit is $7,000 for people under age 50, and $8,000 for people age 50 and over. SoFi will match all contributions up to the annual limit at 1%.1

There is no limit to what you can roll over from your 401(k) into a SoFi IRA. Plus, the sky’s the limit on our match offer! However, you must roll over a minimum of $20K to be eligible for the 1% match. 1

There's always more to learn.

Everything you never thought you needed to know about Retirement Planning.

What is an IRA? How Does an IRA Work?

How Much Can You Put in an IRA This Year?

Traditional IRA Income and Contribution Limits

Traditional and Roth IRA Withdrawal Rules & Penalties

Traditional vs. Roth IRA: How to Choose the Right Plan

What Is a Roth IRA and How Does It Work?

Learn more

FAQs

The IRA Match is an extra 1% that SoFi adds to your IRA for making contributions and rollovers. It does not count toward your annual contribution limits. The pay-out amount for the 1% contribution match is calculated based on the total amount deposited minus any withdrawals, up to the annual contribution limits.

For example, if you deposit $3,000 into your IRA and withdraw $1,500, your 1% match will be $15 on the net deposits in your account.

To receive the 401(k) rollover match, you must roll over a minimum of $20,000 via our partner, Capitalize. There is no cap or limit.
The IRS sets annual IRA contribution limits. The contribution limit for 2024 and 2025 is $7,000 for people under age 50, which means you can earn up to $70 extra with SoFi’s 1% match. For people age 50 and over, the limit is $8,000 which means you can earn up to $80 extra with SoFi’s 1% match.
A 401(k) rollover involves transferring the funds from your 401(k) retirement account into another tax-advantaged retirement account, such as an Individual Retirement Account (IRA). This process helps maintain the tax-deferred status of your retirement savings without incurring immediate taxes or penalties.

When leaving a job, you have several options for handling your 401(k):

-Roll Over to an IRA: Offers more investment choices and potentially lower fees. Can be a traditional IRA or a Roth IRA, depending on your 401k contribution structure.
-Roll Over to a New Employer's 401(k): Consolidates your retirement savings into one account. May offer the convenience of automatic payroll contributions and potentially higher contribution limits. Not all employers accept rollovers, so check with your new employer first.
- Leave the Funds in the Old 401(k): Keeps the funds in the current plan, which might be beneficial if the plan has good investment options or lower fees. You cannot make new contributions to this account, and managing multiple accounts can be cumbersome.
-Cash Out the 401(k): This option can incur significant tax implications and penalties, especially if you are under age 59½. It is typically only advisable in extreme circumstances where immediate cash is necessary.
The SoFi IRA Match and employer 401(k) match both offer matches on retirement investments, but they aren't the same. For starters, the IRA Matches do not count toward your annual contribution limit. Also, you don't have to work for SoFi to earn an IRA Match. In contrast, a 401(k) employer match is a contribution that an employer makes to an employee's retirement account. It is possible to have both an employer 401(k) match, earn the IRA 1% Contribution Match with a SoFi IRA and rollover a 401(k) from a previous employer to a SoFi IRA to earn a 1% Rollover Match.
The rollover must be completed via the Capitalize rollover application to be eligible for the match.

For members with existing SoFi IRAs, a 401(k) rollover must be completed via Capitalize utilizing this link (must provide your SoFi IRA account number)

For SoFi members who don’t have SoFi IRAs, getting started is easy;
Click here to open an Active or Automated IRA with SoFi
Once your IRA is open, click here to utilize Capitalize (and provide your SoFi IRA account number) to rollover your 401(k) to SoFi.
It depends. If you want your contributions or rollovers to be automatically invested and rebalanced, you have the option to open an Automated IRA where we’ll build a portfolio for you, based on your investment objectives and risk appetite. If you prefer to choose your investments yourself, you have the option to open an Active IRA. With an Active IRA, don’t forget to place trades to invest your IRA deposits so you don’t leave them as uninvested cash in your account.
Yes, as long as you completed the rollover via Capitalize utilizing this link, your rollover is eligible for the match.
SoFi offers three different types of retirement accounts: Traditional IRA, Roth IRA, and SEP IRA. Only Traditional and Roth IRA are eligible for the Contribution and Rollover 1% match.

A traditional IRA helps you save for your retirement and gives you tax advantages. This means you may be able to deduct qualified contributions now and pay taxes later. Your contributions may be fully or partially deductible, depending on your filing status and income.

A Roth IRA allows you to contribute after-tax dollars. This means you pay taxes on contributions now with tax-free withdrawals later. Any earnings are tax and penalty free if they meet certain requirements. You should consult a tax advisor prior to making a contribution as your tax situation is unique.
Bonuses will be paid within 60 days of the last day of the month in which the contributions settle in your SoFi Invest account. NOTE: Your IRA Contribution Match and Rollover Match will be paid out as two separate sums.
SoFi will match 1% of a customer’s ACH deposits, up to their contribution limit. Contributions over the annual contribution limit will not be matched. Please see examples below:

Example 1: If you have not made any contributions to your IRA for 2024 and contribute $7000 you will be matched 1% of your contribution amount, which is $70.

Example 2: If you have already made a contribution of $2,000 to your IRA for 2024 and contribute an additional $7,000, bringing you over the annual contribution limit, you will be matched 1% of your additional contribution up to the legal limit, which would be $50 if you are below 50 years old, or $60 if you are above 50 years old.
As long as you hold your eligible funds for at least 2 years, the IRA match is yours to keep. If your deposit or rollover is removed prior to the end of the two year Eligibility Period, SoFi reserves the right to remove the corresponding proportion of the 1% Match from your account. Your IRA investments are savings for retirement, and you'll incur penalties if you take your funds out early, so make your best effort to keep them there till you retire.
Contributions into Automated IRA, Automated Roth IRA, Active IRA, and Active Roth IRA are eligible for the match promo.
If you take funds out of a traditional IRA before you turn 59 ½, you’ll owe regular income taxes on the contributions and the gains, per IRA tax deduction rules, plus a 10% penalty.

You can withdraw your own contributions to a Roth IRA without penalty no matter what your age. However, you cannot withdraw the earnings on your contributions before age 59 ½, or before the account has been open for at least five years, without incurring a penalty.

You should consult a tax advisor if you’re not sure how IRA withdrawals will affect your personal tax liability

See all FAQs

Retirement reimagined.

A 1% match of eligible contributions to your IRA gives you an easier way to build your future, without relying on an employer plan. Start saving today.

Open an IRA