SoFi IRA review: Is it worth it in 2026?
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Key takeaways
- IRAs held $19.9 trillion in assets at the end of the second quarter of 2026, up 9.2% from the first quarter.1
- A SoFi IRA pays a 1% match on contributions and 401(k) rollovers with no subscription, but matched money has to stay 5 years and moving the account out costs $100.
- A SoFi IRA is best for a saver who wants a match without paying for a membership, while Robinhood is best for a saver contributing more than $3,000 a year who will pay $5 a month for a 3% match.
In this article
Key takeaways
- IRAs held $19.9 trillion in assets at the end of the second quarter of 2026, up 9.2% from the first quarter.1
- A SoFi IRA pays a 1% match on contributions and 401(k) rollovers with no subscription, but matched money has to stay 5 years and moving the account out costs $100.
- A SoFi IRA is best for a saver who wants a match without paying for a membership, while Robinhood is best for a saver contributing more than $3,000 a year who will pay $5 a month for a 3% match.
A SoFi IRA is a traditional or Roth IRA inside SoFi Invest that pays a 1% match on contributions and on 401(k), 403(b), and 457(b) rollovers, with $0 commissions on stocks, ETFs, and options.2 The choice comes down to whether a 1% match with no subscription beats Robinhood's larger match with one, and whether you can leave matched money alone for 5 years. This review covers how the match is paid and held, the active and automated IRA, the fees, what it costs to leave, and the 2% match you may see quoted elsewhere.
This review covers the SoFi IRA only. The SoFi Active Investing review covers SoFi's self-directed brokerage, and the best Roth IRA accounts roundup compares SoFi with five other providers.
Who is a SoFi IRA for?
A SoFi IRA is for a saver who wants a match without a membership fee and plans to leave the money where it is, not for one who expects to move brokers in a few years. Three kinds of savers fit a SoFi IRA best.
Savers who want a match with no subscription
SoFi pays the same 1% to every IRA customer, Active or Automated, so there is no paid tier to buy and no second match rate to qualify for. If you are still choosing the account type, start with what a Roth IRA is, because the match works the same in either.
Savers rolling over a 401(k), 403(b), or 457(b)
SoFi's rollover match has no cap. That makes it worth a look for anyone with a large balance in an old workplace plan. The rollover has to go through SoFi's own flow to count.
Hands-off savers starting small
SoFi's Automated Investing IRA opens with $50 and earns the same 1% match. Robinhood's managed IRA earns none.
SoFi IRA pros and cons
The SoFi IRA's pros apply when you put money in, and most of its cons apply when you take money out.
SoFi IRA pros
- 1% match on contributions, with no subscription needed
- No cap on the rollover match
- $0 commissions on stocks, ETFs, and options, and $0 options contract fees
- An automated IRA from $50 that still earns the match
- No account minimum
SoFi IRA cons
- Matched money has to stay 5 years
- $100 to transfer out, full or partial
- $25 inactivity fee after 6 months without a login
- SEP IRAs are excluded from the match
- An IRA closing fee once the balance drops below $100
If the $100 exit fee and the 5-year hold are the dealbreaker, Fidelity charges $0 to transfer an IRA out and pays no match it could take back (see our Fidelity IRA review).
How does the SoFi IRA match work?
The SoFi IRA match is 1% of each contribution or eligible rollover, paid within 5 business days of the deposit settling. The match does not count toward your IRS contribution limit. A saver who maxes out the IRA gets the match on top of the limit.
1% on contributions
SoFi matches 1% of what you contribute to a traditional or Roth IRA, Active or Automated. The IRS limit sets the most the match can pay in a single year.3 A saver who contributes $3,000 gets $30. SoFi's IRA page lists the 1% match on contributions and 401(k) rollovers with a 5-year holding period and no end date stated, as of October 6, 2026.
| 2026 contribution | SoFi match (1%) |
|---|---|
| $3,000 | $30 |
| $7,500, the limit under 50 | $75 |
| $8,600, the limit at 50 and older | $86 |
1% on rollovers, with no cap
Rollovers from a 401(k), 403(b), or 457(b) earn the same 1% with no ceiling, so the match scales with the balance you bring. The best places to roll over a 401(k) roundup compares this match with what each provider charges to leave.
| Rollover amount | SoFi match (1%) |
|---|---|
| $25,000 | $250 |
| $100,000 | $1,000 |
| $250,000 | $2,500 |
The 5-year hold
Matched money has to stay in the account for 5 years, a condition SoFi sets on its IRA page. If you transfer out sooner, SoFi's help center says you'll owe an early withdrawal fee equal to the full match amount, plus the $100 ACAT fee. Treat the match as 5-year money, not a sign-up bonus. SoFi's separate offer for new investing accounts is covered in the SoFi referral code guide.
The 2% match some reviews still quote
You may see a 2% IRA match for SoFi Plus members quoted elsewhere. SoFi's IRA page, observed October 6, 2026, lists 1% for every customer, with no higher rate for Plus. The 2% rate is not on SoFi's own page.
SoFi IRA fees and features
A SoFi IRA costs nothing to trade in but charges a fee to leave. The table lists every IRA-relevant fee SoFi publishes, with the fund fees last observed September 9, 2026 and the rest on October 6.4 Margin, crypto, and the taxable account are covered in the SoFi Active Investing review.
| Fee or feature | SoFi IRA |
|---|---|
| Stock and ETF commissions | $0 |
| Options commissions and contract fees | $0 |
| Account minimum | $0 (Automated Investing: $50) |
| Automated Investing advisory fee | 0.25% a year |
| Interval funds | 2% |
| Other mutual funds | 0.2%, capped at $20 |
| Expense ratios on SoFi's own ETFs and funds | 0.03% to 0.40% |
| Outgoing ACAT transfer | $100, full or partial |
| Inactivity fee | $25 after 6 months without a login |
Trading and options in a SoFi IRA
Stocks, ETFs, and options trade for $0 in a self-directed SoFi IRA. SoFi allows options inside self-directed IRAs, up to Level 2 strategies. Fractional shares start at $5. Fractional shares let a small monthly contribution go fully into the market instead of waiting for a whole share.
Mutual funds inside a SoFi IRA
Mutual funds cost extra in a SoFi IRA, at the rates in the fee table above. SoFi's own ETFs and funds carry expense ratios from 0.03% to 0.40%, so an ETF-only IRA avoids the fund fees entirely.
The Automated Investing IRA
SoFi Automated Investing runs an IRA for 0.25% a year from $50, with no tax-loss harvesting. That matters less than it sounds, because an IRA has no taxable gains to harvest in the first place. On a $20,000 balance, the 0.25% fee comes to $50 a year. Schwab Intelligent Portfolios charges no advisory fee but needs $5,000 to start, and it pays no match.
The $25 inactivity fee
SoFi charges $25 per account after 6 months with no login. An IRA you fund once a year is the kind of account most likely to go 6 months without a login. Opening the app or website counts as activity. Dividends and interest do not.
What does it cost to leave a SoFi IRA?
Leaving a SoFi IRA costs $100 per outgoing ACAT transfer, full or partial, plus whatever part of the match you lose under the 5-year hold.5That puts SoFi level with Robinhood at the expensive end. Check that cost before your first deposit, not in the fifth year.
| Exit cost | SoFi IRA |
|---|---|
| Outgoing ACAT, full or partial | $100 |
| Transfer out within the 5-year hold | Early withdrawal fee equal to the full match |
| IRA closing fee | Applies once the balance drops below $100. The amount is on SoFi's fee schedule |
| Fractional shares | May not transfer by ACAT, so sell them first |
| Incoming transfer | SoFi reimburses up to $75 of the old broker's fee on $5,000 or more |
Is a SoFi IRA worth it?
A SoFi IRA is worth it for a saver who will leave matched money alone for 5 years, because 1% with no subscription is extra money at any contribution size. No independent rating covers SoFi's IRA on its own, so judge the IRA on what it pays and charges: $75 a year on a maxed contribution and $100 to leave.
SoFi is a bank that owns a brokerage, so the match is built to keep deposits in the app. The 5-year hold and the transfer fee keep those deposits there. A SoFi IRA fits a saver who already banks with SoFi, contributes $3,000 a year or less, or wants a cheap robo-advisor that still earns a match. A larger contributor willing to keep Gold earns more at Robinhood. If SoFi fits, you can open a SoFi IRA through Tweed's referral link.
Is SoFi Plus worth it for an IRA?
No, SoFi Plus is not worth it for an IRA alone, because SoFi's IRA page shows the same 1% match for every customer. Plus costs $10 a month, and the Plus investing match applies to taxable Invest deposits, not IRAs. The value of Plus is on the banking side.
When does Robinhood's 3% match beat SoFi's 1%?
Robinhood with Gold pulls ahead of SoFi once you contribute more than $3,000 a year, net of the $60 a year Gold costs. The Robinhood IRA review covers how Robinhood's match is paid and taken back. Robinhood's Gold page words the offer as a "3% boost on annual IRA contributions, up to $225 based on the 2026 maximum," with no end date stated as of October 6, 2026.
| Annual contribution | SoFi match (1%) | Robinhood with Gold (3%) | Gold cost | Robinhood net of Gold |
|---|---|---|---|---|
| $2,000 | $20 | $60 | $60 | $0 |
| $3,000 | $30 | $90 | $60 | $30 |
| $7,500 | $75 | $225 | $60 | $165 |
SoFi IRA vs alternatives
A SoFi IRA's closest alternatives are Robinhood and Webull on the match, and Fidelity and Schwab on fund choice and the cost to leave. The Webull IRA review covers Webull's 3.5% match with Premium. All four brokers were checked on October 6, 2026.
| SoFi IRA | Robinhood IRA | Fidelity IRA | Schwab IRA | |
|---|---|---|---|---|
| Contribution match | 1% | 1%, or 3% with Gold | None | None |
| Rollover match | 1%, no cap | 1%, no cap | None | None shown |
| Transfer out | $100 | $100 | $0 | Not confirmed |
| Managed IRA | 0.25%, $50 minimum, earns the match | 0.25%, no match | $0 under $25,000, 0.35% of the whole balance from $25,000 | No advisory fee, $5,000 minimum |
Is Fidelity or SoFi better for IRA?
Fidelity is better for an IRA you might move or fill with index funds, since it charges $0 to transfer out and its ZERO funds carry a 0% expense ratio. SoFi is better for a saver who wants to be paid 1% and will stay 5 years. The SoFi vs Fidelitycomparison covers both for different kinds of saver.
SoFi IRA vs Schwab
Schwab wins on fund choice and a managed IRA with no advisory fee from $5,000, while SoFi wins on the match and a $50 robo-advisor minimum. The Schwab IRA review covers what Schwab offers in place of a match.
Run your own match before you open an IRA
A 1% match grows only with the contributions behind it. Run the Tweed retirement calculator twice, once with your planned contribution and once with 1% more. Then check the best Roth IRA accounts list, which compares SoFi with five other providers. If SoFi fits, open a SoFi IRA with Tweed's referral link.
Frequently asked questions about the SoFi IRA
Is my SoFi IRA safe?
Yes, a SoFi IRA is safe in the brokerage sense: it is held at SoFi Securities LLC, a FINRA member, and cleared by Apex Clearing, so SIPC covers it up to $500,000, including $250,000 for cash, if the broker fails. SIPC does not cover market losses. SIPC also does not cover a match SoFi removes under its own 5-year rule.
Is SoFi Roth IRA FDIC insured?
No, the stocks and funds in a SoFi Roth IRA are securities, not deposits, so they are not FDIC insured. Uninvested cash is different: Apex sweeps it to program banks, where FDIC coverage applies up to $250,000 per program bank. The rate that swept cash earns is not published on SoFi's page.
Who is SoFi's biggest competitor?
SoFi's biggest competitor for an IRA is Robinhood, the other app-first broker paying a match on both IRA contributions and rollovers. Public also pays 1% on annual IRA contributions. Fidelity and Charles Schwab compete for the same savers on fund choice and account breadth instead of a match.
Can I have a SoFi Roth IRA and a 401(k)?
Yes, you can have a SoFi Roth IRA and a 401(k) at the same time, because the two have separate contribution limits. Roth eligibility depends on income, not on the 401(k). In 2026, Roth eligibility phases out from $153,000 to $168,000 for single filers. Joint filers phase out from $242,000 to $252,000.
Can I have a Roth IRA at SoFi and Robinhood?
Yes, you can have a Roth IRA at SoFi and another at Robinhood, but one IRS limit covers both accounts combined. Each broker matches only what you deposit with it, so splitting $7,500 between them never earns more than putting it all in one. Each broker also holds its own matched money for 5 years.
Why can't I withdraw from my SoFi Roth IRA?
A withdrawal from a SoFi Roth IRA usually waits on settlement, because cash from a sale has to settle before it can leave. IRS rules then decide the tax: contributions can come out any time, but earnings taken before 59½ and before the account is five years old can be taxed and penalized.
Is $200 a month enough for a Roth IRA?
$200 a month puts $2,400 a year into a Roth IRA, about a third of the 2026 limit. At SoFi it would also earn a $24 match each year. Whether that is enough for retirement depends on your age, your other savings, and when you plan to stop working, so run your own numbers.
Sources
- https://www.ici.org/statistical-report/ret_26_q2
- https://www.sofi.com/invest/ira/
- https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
- https://www.sofi.com/invest/
- https://support.sofi.com/hc/en-us/articles/360044740731-Is-there-a-charge-for-an-ACAT-transfer-Does-SoFi-reimburse-other-fees
Personal finance writer, former Forbes contributor and This Week in Fintech writer. He isn't a financial advisor or a CPA.
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