SoFi IRA Deposit Match Terms & Conditions

The SoFi IRA Deposit Match (“IRA Deposit Match” or “Offer”) is governed by the following Terms & Conditions:

1. Offer – SoFi will match 1% of a customer’s ACH deposits, up to their contribution limit, made into their existing or newly opened SoFi IRA during the Offer Period. Deposits must be maintained in the IRA for two (2) years after the close of the Offer Period, otherwise known as the Eligibility Period. Bonuses will be paid within 30 days of the last day of the month in which the contributions settle in your SoFi Invest account. Please see examples below:

Example 1: If you have not made any contributions to your IRA for 2024 before the offer period, and contribute $7,000 during the offer period, you will be matched 1% of your contribution which is $70.

Example 2: If you have made a contribution of $2,000 to your IRA for 2024 before the offer period, and contribute and additional $7,000 during the offer period, 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.

2024 IRA Contribution Limits
If you’re younger than 50 $7,000
If you’re age 50 or older $8,000

2. Offer Period – The Offer Period will run from May 15, 2024 to midnight of December 31, 2024. This period may be extended at SoFi’s discretion.

3. Eligibility – The IRA Deposit Match is available to customers who have (1) an existing Individual Retirement Account (IRA) (Automated IRA, Automated Roth IRA, Active IRA, and Active Roth IRA)1 in good standing or have successfully opened an IRA during the Offer Period through SoFi Securities LLC2. And (2) have successfully deposited cash in their SoFi IRA. Only deposits received through a contribution via automated clearing house (ACH) transfer are eligible. The deposit must be received before the end of the Offer Period to be eligible for the 1% Match.

4. Eligibility Period – Two (2) years from the close of the Offer Period.

5. Limitations – This Offer may not be combined with any other offer.

If the deposit is removed prior to the end of the two year Eligibility Period, SoFi, at its discretion may remove the corresponding proportion of the 1% Match from the customer’s account. For instance, if $7,000 (maximum contribution if under age 50) was deposited receiving a $70 match and then later $5,000 was withdrawn; SoFi may remove $50 from the bonus. SoFi reserves the right to liquidate securities to pay for the removal of the Match bonus. Further, SoFi may bill this to a receiving firm in the event of an account transfer.

The amount of the 1% Match is calculated based on the total amount deposited (via ACH) cash contributions minus any withdrawals. SoFi will calculate the 1% Match to three decimal points any amount over $0.005 will be rounded up to $0.01 and any amount below will be forfeit.

Payment/match will be made in the account you initially contributed. If contributions are no longer in the account for any reason (withdrawal, account transfer, IRA conversion, etc.), you will not receive a match.

If SoFi suspects that there may have been fraudulent activity or a violation of these Terms & Conditions in connection with the Offer, SoFi reserves the right to either decline to grant the 1% Match, or to rescind the 1% Match. SoFi reserves the right to liquidate any security to make up for any shortfall. SoFi reserves the right to delay granting the 1% Match if there are indications of fraud or a violation of these Terms.

6. Not a Recommendation – The IRA Deposit Match is not a recommendation to buy, sell, or hold any security, nor is the Offer a recommendation or endorsement of any investment strategy. The Offer is not a recommendation that a customer rollover or transfer assets into a SoFi IRA, nor a recommendation for any specific account type. There are many factors that an investor should consider before initiating a rollover as it is one of a few options. An investor should consult with a qualified advisor prior to initiating a transfer or rollover.

Customers that wish to participate in the IRA Deposit Match are acknowledging the offer is not investment advice and are participating in the Offer voluntarily.

7. Taxes – Each investor’s tax situation is unique and SoFi does not give tax advice. Investors should consult a qualified tax advisor prior to making any rollover or transfer. The 1% match will be treated as interest earned on the account and won’t impact contribution limits.

8. Other Disclosures – SoFi reserves the right to change the Offer terms or terminate the offer at any time without notice. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to U.S. residents only. The offer is only available for personal use, and may not be used for commercial purposes.

1SEP IRAs are excluded from this offer.

2Automated Investing accounts are managed by SoFi Wealth LLC and are executed through SoFi Securities and are eligible for the IRA Deposit Match.

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