If you are experiencing issues with an ACAT (automated customer account transfer), here are some common reasons:
- We do not accept Options.
- We do not accept stocks that trade on OTC, Pink Sheets, and/or most low-priced Securities.
- You can only ACAT between the same type of account. I.e. Roth IRA to Roth IRA or Individual to Individual.
- You can only ACAT between accounts that have the same account holder.
- Not all firms accommodate ACAT requests. You may need to reach out to the firm where your assets are currently held to check with them if they participate in ACAT requests.
If you have assets in your delivering account that cannot be held at SoFi, these assets 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 do not want to liquidate those assets, you can do a partial ACAT. Please reach out to one of our Investment Specialists by calling 855-525-7634 or chat online.
Typically, your transferring brokerage firm will automatically liquidate the fractions, then send the proceeds with the ACAT request.