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Housing associations are pushing back against the Federal Reserve’s recent policy of rate hikes.

SoFi is reimagining IRAs by offering a 1% IRA match on eligible contributions.

To Accelerates Members’ Retirements, SoFi Invest Announces a 1% IRA Match On IRA Contributions

San Francisco, CA – October 12, 2023– SoFi, the all-in-one digital personal finance company, today announced SoFi Invest¹ will offer a 1% match on all eligible IRA (individual retirement account) contributions². This comes as a new survey³ also out from SoFi today unveils American’s top financial ambitions including: creating or sustaining generational wealth, buying a house or owning property, buying a car, retiring early and sending kids to college.

Designed to help members plan for their retirement in order to achieve this top financial ambition, SoFi is introducing the 1% match on eligible IRA contributions to ensure members get more for their hard-earned money and feel more confident in their retirement plans. SoFi members can earn the IRA Match on all new IRA contributions from outside accounts as well as new contributions through ACH transfers. 

SoFi Invest complements this new IRA 1% match with a full suite of investing tools and educational resources to help members at every step of their financial journey, including access to credentialed financial planners, career planners and award-winning investment platform such as SoFi Active Invest and SoFi Automated Investing¹.

Other data in the survey reveals interesting sentiment and trends around retirement including:

• Almost half (44%) of people feel like they are not making enough money to contribute to their retirement savings
• Almost three quarters (71%) of people would rather own a home compared to over one quarter (28%) of people would rather retire by age 50
• Men are more likely than women to be saving for retirement (54% vs. 43%)
• Of those people saving, men are more likely to know what is in their savings account (55% vs. 44%)
• And the younger generations are willing to give up dining out for 5-years in order to retire by age 50

• • two thirds (66%) of Gen Z respondents would give up eating out at restaurants for 5 years to retire by age 50 
  • 7 in 10 Millennial respondents would rather give up eating out at restaurants for 5 years to retire by age 50 

To learn more about SoFi’s 1% IRA Match visit here and to see more about SoFi’s latest survey visit here.

About SoFi:

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 6.2 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Credentialed Financial Planners (CFP®), exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

Disclosures

1. SoFi Invest refers to the three investment and trading platforms operated by Social Finance, LLC and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.

1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.

2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.

3) SoFi Crypto is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

For additional disclosures related to the SoFi Invest platforms described above, including state licensure of SoFi Digital Assets, LLC, please visit SoFi.com/legal.

Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Bank, N.A.

2. Earn a bonus (as described below) when you transfer investments from another brokerage firm into a taxable SoFi Invest Active brokerage or Active retirement account (Traditional, Roth, or SEP IRA). Bonus amounts are based on the total net dollar amount (incoming transfers less outgoing transfers) of settled transfers from another brokerage to an individual SoFi Invest account during each calendar month. Bonuses will be paid within 14 days of the last day of the month in which the transferred assets settled in your SoFi Invest account. Bonuses will be paid into the same account you transferred investments into. Transfers into multiple accounts may not be combined. Assets are required to remain in your SoFi account for 180 days. SoFi reserves the right to recoup up to the bonus amount from any withdrawals that take place prior to the 180-day period. SoFi also reserves the right to change or terminate this promotion at any time without notice. Important Tax Information: The value of the reward you receive may constitute taxable income. SoFi Securities LLC may issue a Form 1099 (or other appropriate form) to you that reflects the value of the reward. Please consult your tax advisor. SoFi Securities LLC and its affiliates and associates do not provide tax advice.

Please see https://www.sofi.com/acatoffer for amount chart

We do not accept mutual funds. These funds would need to be liquidated prior to initiating an ACAT with SoFi. Please contact your brokerage firm to complete this action, prior to submitting an ACAT.

We do not accept cryptocurrency transfers, and we do not accept stocks that trade on OTC, Pink Sheets, and/or most low-priced securities. Check our Invest platform for any associated stocks you may be interested in transferring – if they appear in SoFi Invest, they are eligible to be transferred to us.

If you transfer a brokerage account with total asset value over $5,000 through the ACAT system, SoFi will reimburse up to $75 of ACAT Fees from your outgoing brokerage firm.

Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA/SIPC, (“Sofi Securities). Clearing and custody of all securities are provided by APEX Clearing Corporation.

3. The SoFi Ambition Survey findings are based on an online survey of 2,000+ consumers conducted by SoFi in the U.S. between August 21 through September 1, 2023.

SoFi 1% Rollover Match Terms & Conditions

The SoFi Securities LLC (“SoFi Securities”) and SoFi Wealth LLC (“SoFi Wealth,” and together with SoFi Securities, “SoFi”) 1% Rollover Match (“Rollover Match” or “Offer”) applies to eligible rollovers from Eligible Account Types (as defined below) into Individual Retirement Accounts (“SoFi IRAs”) held through a Self-directed SoFi Invest account (offered by SoFi Securities LLC) or a Robo SoFi Invest account (offered by SoFi Wealth LLC). The Offer is governed by the following Terms & Conditions:

Offer: SoFi will match 1% of a customer’s eligible rollover into their newly opened SoFi IRA or existing SoFi IRA initiated in partnership with Capitalize during the Offer Period. The rollover funds must be maintained in the SoFi IRA account for five (5) years from the settlement date. Matches will be paid in cash within 5 business days from the date which the rollover funds settle in your SoFi IRA account.

Offer Period: The Offer Period is any time from November 21, 2025 onwards, though SoFi may modify, suspend, or terminate the Offer at any time without advance notice.

Eligibility: The Offer is available solely to customers who roll over their account under Internal Revenue Code Sections 401(k), 403(b) or 457(b) (“Eligible Account Type”) into a SoFi IRA and initiated in partnership with Capitalize within the Offer Period. “Rollover” refers to deposits received via check. Rollovers received by ACAT transfers are excluded from this Offer. If a rollover call is required by SoFi’s third party service provider Capitalize, it must occur within one month after the end of the Offer Period.

SEP IRAs not eligible. Rollovers to a SEP IRA (Simplified Employee Pension Individual Retirement Account) are not eligible for the Match.

Calculations and Payments: Matches will be paid out in cash into the account where the check was deposited within 5 business days of the deposit being settled. The 1% Rollover Match is calculated based on the total rolled-over check amount. Payment will be made into the IRA initially credited with the rollover.

Example: If you complete a $75,000 rollover with Capitalize to a SoFi IRA during the Offer Period, you will be matched 1%, equaling $750.

Limitations: Qualifying rollovers must remain in the SoFi IRA account that earned the promotion for five (5) years to keep the entire match amount. If a member makes a withdrawal before the five (5) year Holding Period is complete, they will be subject to an early withdrawal fee and SoFi will remove a proportional amount of the Match from the member’s account. The proportional amount is based on the breach in retention value, not retention period. To avoid this fee, the total equity of the member’s account (“total equity”) must remain at the original pre-promotion equity balance in the account, plus the qualifying rollover and match amount. If a withdrawal causes the total equity to fall below this combined amount, the fee will be applied. The fee will also apply if the member initiates a withdrawal and the total equity has fallen, for any reason including investment losses. Distributions required by law (e.g., required minimum distributions in IRAs) can also trigger the fee. However, the fee will not apply if the member’s total equity has risen by an amount greater than the withdrawal amount, either by investment gains or additional deposits.

The proportional early withdrawal fee is deducted from the requested withdrawal amount. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount. If insufficient cash is available in this account, the fee will be debited from an outgoing financial institution or added to a margin balance. SoFi reserves the right to liquidate securities to pay for this early withdrawal fee. SoFi will also bill an ACAT out fee separate from an early withdrawal fee. All such fees are subject to the then-current SoFi fee schedule.

Examples:

Fraud and Violations: SoFi reserves the right to decline, rescind, or delay granting the 1% Match if fraudulent activity or violations of these Terms are suspected. SoFi will liquidate any security to recover the Match amount if required.

Not a Recommendation: This Offer is not a recommendation to buy, sell, or hold any security, or roll over any retirement plan account, nor does it endorse any specific investment strategy or account type. There are many factors an investor should consider before contributing to an IRA or deciding to rollover an employer-sponsored retirement plan. Customers are advised to consult with a qualified advisor before making any transfers or rollovers. Customers acknowledge that by participating in the Match, they are participating in the Offer voluntarily and not based on any investment advice from SoFi.

Rollover Considerations: A rollover is one of several options available to you and may not be the best option for you. Other options may include leaving the Eligible Account Type at your former employer, rolling the Eligible Account Type to a new employer plan, or cashing out the Eligible Account Type. You should consult with a financial advisor or tax professional prior to making any decision. Further you should consider the following prior to any change in your Eligible Account Type:

•  Investment Options: Eligible Account Types generally have limited investment options, however, some options may be exclusive to that employer’s plan. IRAs often have wider range of investment options available to investors

•  Services: There are different levels of service available to Eligible Account Type participants and an investor should consider how these services differ from those in an IRA. Some employer plans may offer more robust service options.

•  Fees & Expenses: Both Eligible Account Type plans and IRAs involve expenses and fees. An investor can expect to pay some fees in an IRA that may not be applied to an Eligible Account Type such as loads, commissions, fund expenses, or advisory fees. Some employers cover administrative fees such as recordkeeping, trustee, or compliance fees. For additional details on the SoFi fee schedule click here.

•  Loans: Many employer plans allow you to take loans against the assets in your plan, while this option is generally unavailable in IRAs. You will be required to pay any outstanding loan balance prior to a rollover.

•  Penalty Free Withdrawals: Employees that leave their job prior to age 59 ½ may be eligible for penalty free withdrawals from their plan. However, penalty free withdrawals generally start at 59 ½ in IRAs.

•  Protection from Creditors: Eligible Account Type plans generally have unlimited protections (in amount) against judgements and creditors. IRAs are only protected in bankruptcy up to $1,711,975 (as of April 2025) and state laws vary.

•  Required Minimum Distributions (RMDs): For both employer plans and IRAs individuals are required to take periodic distributions beginning at age 73 or 75 depending on your year of birth. However, if an individual continues working past age 73 they may not be required to to RMDs from their employer plan.

•  Employer Stock: There may be negative tax consequences for individuals who hold appreciated employer stock in an employer plan and transfer to an IRA. If this applies to you, consult your tax advisor prior to initiating a transfer or rollover.

Taxes: The Match is treated as interest earned and does not impact contribution limits, but may be reportable on IRS Form 1099-INT, 1099-MISC, or Form 1042-S as applicable. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the offer; consult with your tax advisor to determine applicable tax consequences. Each investor’s tax situation is unique, and SoFi does not provide tax advice.

Disclosures: SoFi reserves the right to change or terminate the Offer at any time without notice. The Offer is not transferable, saleable, or valid in conjunction with other offers and is available to U.S. residents for personal, non-commercial use only. Participation in this Offer constitutes acceptance of these Terms.

SoFi 1% IRA Deposit Match Terms & Conditions

The SoFi Securities LLC (“SoFi Securities”) and SoFi Wealth LLC (“SoFi Wealth,” and together with SoFi Securities, “SoFi”) 1% IRA Deposit Match (“IRA Deposit Match” or “Offer”) is governed by the following Terms & Conditions:

Offer: SoFi will match 1% of a customer’s deposits, up to their Internal Revenue Service (IRS) contribution limit, made into their existing or newly opened SoFi Individual Retirement Account (“SoFi IRA”) held through a Self-directed SoFi Invest account (offered by SoFi Securities LLC) or a Robo SoFi Invest account (offered by SoFi Wealth LLC) during the Offer Period. Deposits must be maintained in the IRA account for five (5) years from the settlement date. Matches will be paid in cash within 5 business days from the date which the funds settle in your SoFi IRA account. Please see examples below:

Example 1: If you have not made any contributions to your IRA for 2025 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 2025 before the offer period, and contribute an 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 under 50 years old, or $60 if you are over 50 years old.

Offer Period: The Offer Period is any time from November 21, 2025 onwards, though SoFi may modify, suspend, or terminate the Offer at any time without advance notice.

Eligibility: The IRA Deposit Match is available to customers who have an existing or newly opened SoFi IRA—whether a Self-directed IRA offered by SoFi Securities LLC or a Robo IRA offered by SoFi Wealth LLC—in good standing during the Offer Period and have successfully deposited cash in their SoFi IRA. Only deposits received through a contribution via automated clearing house (ACH) transfer or via instant cash transfer from SoFi Bank accounts are eligible.

Calculations and Payments: Matches will be paid out in cash into the account where the cash contribution was deposited within 5 business days of the deposit being settled. The 1% Deposit Match is calculated based on the total amount deposited (via ACH or instant cash transfer from SoFi Bank accounts). If contributions are no longer in the account for any reason (withdrawal, account transfer, IRA conversion, etc.), you will not receive a match.

Limitations: Qualifying deposits must remain in the SoFi IRA account that earned the promotion for five (5) years to keep the entire match amount. If a member makes a withdrawal before the five (5) year Holding Period is complete, they will be subject to an early withdrawal fee and SoFi will remove a proportional amount of the Match from the member’s account. The proportional amount is based on the breach in retention value, not retention period. To avoid this fee, the total equity of the member’s account (“total equity”) must remain at the original pre-promotion total equity in the account, plus the qualifying deposit and match amount. If a withdrawal causes the total equity to fall below this combined amount, the fee will be applied. The fee will also apply if the member initiates a withdrawal and the total equity has decreased, for any reason including investment losses. Distributions required by law (e.g., required minimum distributions in IRAs) can also trigger the fee. However, the fee will not apply if the member’s total equity has risen by an amount greater than the withdrawal amount, either by investment gains or additional deposits.

The proportional early withdrawal fee is deducted from the requested withdrawal amount. In the event of an ACAT transfer out, there will be an early withdrawal fee for the entire match amount. If insufficient cash is available in this account, the fee will be debited from an outgoing financial institution or added to a margin balance. SoFi reserves the right to liquidate securities to pay for this early withdrawal fee. SoFi will also bill an ACAT out fee separate from an early withdrawal fee.

Examples:

Fraud and Violations: SoFi reserves the right to decline, rescind, or delay granting the 1% IRA Deposit Match if fraudulent activity or violations of these Terms are suspected. SoFi will liquidate any security to recover the match amount if required.

Not a Recommendation: This Offer 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.

Taxes: The Match is treated as interest earned and does not impact contribution limits, but will be reportable on IRS Form 1099-INT, 1099-MISC, or Form 1042-S as applicable. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the offer; consult with your tax advisor to determine applicable tax consequences. Each investor’s tax situation is unique, and SoFi does not provide tax advice.

Disclosures: SoFi reserves the right to change or terminate the Offer at any time without notice. The Offer is not transferable, saleable, or valid in conjunction with other offers and is available to U.S. residents for personal, non-commercial use only. Participation in this Offer constitutes acceptance of these Terms.