Retirement Accounts
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Individual Retirement Accounts (IRAs)
Invest in your future with an IRA.
Open a Roth or Traditional IRA and benefit from tax-advantaged retirement savings. Plus, get a 1% match on IRA rollovers and contributions with no minimum amount required.1
Open an IRA
Begin rollover
1Terms and conditions apply. Matches are made on contributions up to the annual limits.
Based on SoFi Members. This claim may not be representative of the experience of all other customers. | Updated: 10/22/2025
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Choose how you want to manage your IRA.
With SoFi’s Roth or Traditional IRAs, you have the flexibility to choose the investment style that suits you best:
self-directed investing for hands-on control or robo investing for a portfolio built just for you with SoFi’s robo advisor.
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Self-Directed IRAs
(Hands-On)
If you want to be hands-on and select your own investments in your IRA, self-directed investing is the option for you. Be your own investor and pay no commissions on your trades. Other fees apply.
Open a Self-Directed IRA
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Robo IRAs
(Hands-Off)
Overwhelmed by your investment options or not sure where to start? We’re here to help. Just tell us about your overall retirement and investment goals and our robo advisor will build and manage a custom portfolio for your IRA – just for you.
Open an Automated IRA
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How SoFi can help you prepare for retirement.
Discover the benefits of opening an IRA with SoFi and see how it can help you achieve your retirement goals.
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A 1% match for your future. 1
Reimagine your retirement with a 1% match on IRA contributions and 401(k) rollovers—no employer plan is necessary. Note: SEP IRAs are excluded.
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Diverse investment options.
Whether selecting your investment options yourself or letting us build your portfolio for you, you get access to a wide range of investment options including stocks, ETFs, alternative investments, and more.
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Professional advice at no additional cost.
Book a complimentary 30-min session with a SoFi Financial Planner to get a clear understanding of your current financial situation – and build a strategy moving forward.
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No commissions on stocks and ETFs.
No commissions on stocks and ETFs means no extra cost to you. Other fees apply.
Open an IRA
Begin rollover
1Terms and conditions apply. Matches are made on contributions up to the annual limits.
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Understanding IRAs
We’ll guide you through the IRA fundamentals, importance of investing for the future, and differences between Roth and Traditional IRAs.
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Types of IRAs to fit your retirement goals.
Roth IRA
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• Contributions are not tax-deductible. See Roth IRA contribution limits.
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• Income eligibility does exist.
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• Qualified withdrawals are tax-free and penalty free after 5 years and after age 59½.
Traditional IRA
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• Contributions may be tax-deductible. See Traditional IRA contribution limits.
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• No income eligibility.
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• Earnings grow tax-deferred and are taxed as ordinary income at the time of withdrawal.
SEP IRA
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• Designed for self-employed individuals and small business owners.
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• Contributions are tax-deductible. See SEP IRA contribution limits.
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• Higher contribution limits compared to Traditional and Roth IRAs.
Rollover IRA
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• There are no contribution limits when rolling over your 401(k) to an IRA.
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• Allows you to consolidate 401(k)s from previous employers.
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• Provides flexibility and control over your retirement savings.
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• No taxes or penalties when transferring funds from a qualified retirement plan.
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Open your IRA online in 3 easy steps.
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Choose how you’d like to invest.
Consider a self-directed IRA if you want to select your own investments or an automated IRA if you want to be hands-off.
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Decide which IRA is best for you.
You can choose between a
Traditional, Roth, or SEP IRA. -
Open your new IRA.
There’s no cost or minimums to open a SoFi IRA. Don’t forget to fund your new IRA and start investing.
Open an IRA
See where you stand for retirement.
Use our retirement calculator to estimate what you’ll have, what you’ll need,
and to identify any gaps so you can plan with confidence. 3
How our retirement calculator works.
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This calculator projects your retirement savings by considering your current balance, annual contributions, and the rate of return on your investments. This is for educational purposes and is based on hypothetical assumptions that may not reflect actual performance.
The projected amount is in today’s dollars, meaning it reflects the purchasing power of your savings in terms of today’s cost of living, after adjusting for inflation (set a 3%). It also assumes those amounts are in pre-tax dollars, meaning taxes on these funds will be paid when you withdraw them in retirement.
On track or not, maxing out your IRA unlocks the power of compound returns.
Whether you’re on track or facing a gap based on your calculator results, consistently maxing out your IRA each year can help strengthen your long-term retirement outlook with the help of compound returns. This refers to the potential for your savings to build on themselves over time, similar to a snowball effect.
Take this chart, for example. It shows how those returns can add up over time when you consistently contribute the annual IRA maximum, based on a hypothetical 7% annual return, which reflects the historical average of the S&P 500 Index. 2
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Get a 2% match on IRA contributions.5
Double your match with SoFi Plus. Get a 1% match on your IRA contributions, plus an extra 1% cash match6 on all your recurring SoFi Invest® deposits.
Get SoFi Plus
Tools and education to help you plan for retirement.
You know you’re supposed to save for retirement, but do you know how to get started or what you’re supposed to do over time? From knowing how much to save, what to invest in, and how to manage your retirement account, our tools and resources can help you on the road to retirement.
See more investing articles
FAQs
The annual contribution limit for a traditional and Roth IRA is $7,000 for 2025 and $7,500 for 2026. Those 50 and older can contribute $8,000 in 2025 and $8,600 in 2026.
The SEP IRA contribution limit for 2025 is 25% of an employee’s total compensation, up to $70,000. The SEP IRA contribution limit for 2026 is 25% of an employee’s total compensation, up to $72,000. Other limitations may apply.
Traditional IRA contributions may be tax-deductible if you meet certain income requirements. Roth IRAs are not tax-deductible.
Learn more: IRA Tax Deduction Rules
For traditional IRAs, you can make penalty-free withdrawals once you reach age 59½. Roth IRA contributions can be withdrawn at any time without tax or penalty, for any reason at any age. Investment earnings on Roth contributions can typically be withdrawn, tax-free and without penalty, once the investor reaches the age of 59½, as long as the account has been open for at least a five-year period.
Learn more: Traditional and Roth IRA Withdrawal Rules & Penalties
Yes, you can have both a 401(k) and an IRA. Note that the two account types have different contribution and withdrawal rules, so be sure to understand those before opening an account.
How do I move my 401(k) to an IRA?
SoFi Invest offers a range of retirement accounts and
401(k) rollover options.
We offer Traditional, Roth, and SEP IRAs, and can help with the rollover process.
What is an IRA match and how does it work?
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 each settled deposit up to the annual contribution limits. For example, if you deposit $3,000 into your IRA, your 1% match will be $30. There is no cap or limit on the 401(k) rollover match.
Is the SoFi IRA Match the same as an employer’s 401(k) match?
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.
Is my IRA deposit or 401(k) rollover automatically invested?
It depends. If you want your contributions or rollovers to be automatically invested and rebalanced, you have the option to open a Robo 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.
Is my 403(b) or 457(b) eligible for the match?
Yes, as long as you completed the rollover via the SoFi platform utilizing this link, your rollover is eligible for the match.
When will I get paid my 1% match?
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.
Required minimum distributions (RMDs) are minimum withdrawals set by the IRS that you must make when you reach a certain age. For traditional IRAs, RMDs kick in the year you turn 72 (73 if you reach age 72 after Dec. 31, 2022).
Yes, you can have multiple IRAs, but the total amount you contribute to all of your IRAs cannot exceed the annual IRS contribution limits.
There’s no cost to open a SoFi IRA.
SoFi retirement accounts don’t have any account fees. However, there may be fees associated with certain ETFs and mutual funds ranging from 0.03% to 0.40%. Other fees apply.
SoFi offers a variety of investment options for your retirement savings including ETFs, stocks, and more. You can choose to invest in individual investments or you can use SoFi’s automated investing service to create a diversified portfolio that’s tailored to your risk tolerance and investment goals.
SoFi IRAs are available to anyone who is a U.S. citizen or resident who’s at least 18 years old and has a valid Social Security number.
SoFi will match 1% of a customer’s ACH deposits or via cash transfers from SoFi Bank accounts, 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 2025 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 2025 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 five years, the IRA match is yours to keep. If your deposit or rollover is removed prior to the end of the five year Eligibility Period, SoFi will remove a proportional amount of the bonus from the member’s account. The proportional amount is based on the breach in retention value, not retention period. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount.
Examples:
Scenario 1: If you deposit $7,000 into your IRA account for 2025, you’ll earn a $70 match. If you withdraw $500 less than 5 years from the deposit date, you’ll incur an early withdrawal fee of $4.95.
Scenario 2: If you deposit $7,000 into your IRA account, you’ll earn a $70 match. Your account balance then increases to $10,000 due to investment gains. If you withdraw $500 less than 5 years from the deposit date, you’ll incur an early withdrawal fee of $0 because your equity balance remains above the pre-promotion equity in the account, plus the qualifying deposit and match amount.
Scenario 3: If you deposit $7,000 into your IRA account, you’ll earn a $70 match. Your account balance then decreases to $5,000 due to investment losses. If you withdraw $500 less than 5 years from the deposit date, you’ll incur an early withdrawal fee of $30.39 because your equity balance fell below the pre-promotion equity in the account, plus the qualifying deposit and match amount.
Your IRA investments are savings for retirement, and you’ll incur penalties if you withdraw your funds 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.
The rollover must be completed via the integrated Capitalize rollover experience within the SoFi Invest platform. To begin the rollover process, please click here.
Yes – you must keep the funds in your SoFi IRA for five years from the deposit settlement date. Early withdrawals will be subject to an early withdrawal fee. SoFi will remove a proportional amount of the bonus from the member’s account based on the breach in retention value. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount.
The match will be paid out within 5 business days of the transfer being settled, subject to verification of eligibility and compliance with these terms.NOTE: Your IRA Contribution Match and Rollover Match will be paid out as two separate amounts.
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