Initiating a full account transfer can be done online:
SoFi Invest is capable of receiving assets directly from another brokerage account if that brokerage firm is ACAT eligible. SoFi does accept ACAT requests of fractional shares if it comes from another firm that clears through APEX. Typically, your transferring brokerage firm will automatically liquidate the fractions, then send the proceeds with the ACAT request. (Note: There should be no additional action needed from you to submit your ACAT request with us, however, some firms may have that requirement.) If unsure of eligibility or liquidation practices, please contact your current brokerage firm.
To Submit the Request on the SoFi App:
- Tap on ‘Invest’ and either tap on Trade or go directly to the Invest account and tap on Trade on the account itself. You will select Transfer Assets.
- You will be able to search with Plaid for the firm where your assets are currently held.
- Plaid will have you enter the login information for the other firm. Once you have entered in the login credentials, Plaid will be able to get the information needed for your ACAT request. You will just need to follow the prompts to complete the request.
If you do not want to use Plaid or your institution is not available via Plaid, you can manually enter the information for the ACAT request. You can tap on the ‘X’ in the top right corner of the screen then tap on ‘Transfer account manually’. Then fill out the required information for the request.
To Submit the Request on the SoFi Website:
- Select ‘Invest’ from the products and click on the Transfer Investments icon and select the account you would like to transfer to, or go directly to the Invest account and click on the Transfer Investments button on the account itself.
- You will be able to search for the firm where your assets are currently held.
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Enter the account number for the account you are transferring to SoFi.
- If you need assistance locating the account number, we may have an article with the instructions in our Account Number Look Up Help Center.
- If you need assistance locating the account number, we may have an article with the instructions in our Account Number Look Up Help Center.
- Confirm if you have Crypto, Mutual Funds, or Options in the account you are transferring.
- Confirm that you are doing a full transfer. If you need to do a partial transfer, please reach out to an Investment Specialist at (855)525-7634 for assistance.
- Review and Submit the transfer request.
The ACAT transfer request may take 1 - 2 weeks to finalize.
Please Note:
- We do not accept mutual funds, options, or crypto. These investments 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.
- If you have margin trading enabled in your Individual Active Invest account, you are able to transfer a margin balance. If you do not have margin trading enabled, the transfer that has a margin balance will be rejected.
- We do not accept all 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 do not want to liquidate those assets, you can do a partial ACAT and only transfer the eligible assets.
- You can only ACAT between the same type of account. I.e. Roth IRA to Roth IRA, or Individual to Individual.
- If the firm cannot accommodate an ACAT request, please call or chat with one of our Investment Specialists. They will be able to assist you with a Non-ACAT Request.
Finally, we do not charge any fees to transfer an investment account INTO SoFi Invest! However, for Active Invest and Automated Invest brokerage accounts, there is a $75 outgoing ACAT fee should you decide to transfer your account to another broker. It is also possible that other firms may charge an ACAT fee. If you transfer over a brokerage account using the SoFi ACAT system, SoFi will cover up to $75 of any ACAT Outgoing Fees you may incur from your current brokerage firm as long as the transfer is for $5,000 or more. Once the transfer is successfully completed, you can request reimbursement by calling us at 855-525-7634 or chat with us online.
Check Status:
To check the status of your retirement account rollover or ACAT, please contact a licensed Investment Specialist by phone at 855-525-7634.