The SoFi Rollover Match (“Rollover Match” or “Offer”) is governed by the following Terms & Conditions:

1. Offer – SoFi members will earn a 1% match for rolling-over a 401(k) balance of more than $20,000 into their existing or newly opened SoFi IRA during the Offer Period. Rollover must be completed via the Capitalize rollover application (see Eligibility). Further, rollover funds must be maintained in the IRA for two (2) years after the close of the Offer Period, otherwise known as the Eligibility Period. Bonuses will be paid within 60 days of the last day of the month in which the rollover funds settle in your SoFi Invest account. Please see example below:

Example: If you initiate a $75,000 Rollover with Capitalize, during the offer period, you will be matched 1% of your rollover which is $750.

2. Offer Period – The Offer Period will run from July 1, 2024 to midnight of September 15, 2024. This period may be extended at SoFi’s discretion.

3. Eligibility – The Rollover Match is available to customers who have (1) an existing Individual Retirement Account (IRA) (Automated IRA, Automated Roth IRA, Active IRA, and Active Roth IRA)¹ in good standing or have successfully opened an IRA during the Offer Period through SoFi Securities LLC.² And (2) have successfully rolled over their 401(k) in their SoFi IRA with Capitalize. Only rollovers initiated through Capitalize are eligible. The rollover must be completed by either scheduling a rollover call or submitting a rollover request between July 1 and September 15, 2024. If a rollover call is required, the appointment must occur by Oct 15, 2024 to be eligible for the Rollover Match.

a. For members with existing SoFi IRAs, a 401(k) rollover must be completed via Capitalize utilizing this link (and provide their SoFi IRA account number)

b. For SoFi members who don’t have SoFi IRAs, getting started is easy;

i. Click here to open an Active or Automated IRA with SoFi

ii. Once your IRA is open, click here to utilize Capitalize (and provide your SoFi IRA account number) to rollover your 401(k) to SoFi

4. Eligibility Period – Two (2) years from the close of the Offer Period.

5. Limitations – This offer cannot be combined with any other rollover bonus or offer.

If the rollover funds are removed prior to the end of the two year Eligibility Period, SoFi, at its discretion may remove the corresponding proportion of the 1% Rollover Match from the customer’s account. For instance, if $75,000 was rolled-over, receiving a $750 match and then later $50,000 was withdrawn; SoFi may remove $500 from the bonus. SoFi reserves the right to liquidate securities to pay for the removal of the Match bonus. Further, SoFi may bill this to a receiving firm in the event of an account transfer.

The amount of the 1% Rollover Match is calculated based on the total amount rolled-over minus any withdrawals. SoFi will calculate the 1% Match to three decimal points any amount over $0.005 will be rounded up to $0.01 and any amount below will be forfeit.

Payment/match will be made in the account that 401(k) assets were initially rolled into.

If SoFi suspects that there may have been fraudulent activity or a violation of these Terms & Conditions in connection with the Offer, SoFi reserves the right to either decline to grant the 1% Rollover Match, or to rescind the 1% Rollover Match. SoFi reserves the right to liquidate any security to make up for any shortfall. SoFi reserves the right to delay granting the 1% Rollover Match if there are indications of fraud or a violation of these Terms.

6. Not a Recommendation – The Rollover Match 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 SoFi Rollover Match are acknowledging the offer is not investment advice and are participating in the Offer voluntarily.

7. 401(k) 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 401(k) at your former employer, rolling the 401(k) to a new employer plan, or cashing the 401(k) out. 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 401(k):

a. Investment Options: 401(k)s 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

b. Services: There are different levels of service available to 401(k) participants and an investor should consider how these services differ from those in an IRA. Some employer plans may offer more robust service options.

c. Fees & Expenses: Both 401(k) plans and IRAs involve expenses and fees. Investors may pay loads, commissions, or the expenses of funds. Some employers cover administrative fees such as recordkeeping, trustee, or compliance fees. However, an investor can expect to pay the fees on an IRA.

d. 401(k) 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.

e. Penalty Free Withdrawals: Employees that leave their job between 55 and 50 ½ may be eligible for penalty free withdrawals from their plan. However, penalty free withdrawals start at 50 ½ in IRAs.

f. Protection from Creditors: 401(k) plans generally have unlimited protections against judgements and creditors. IRAs are only protected in bankruptcy and state laws vary.

g. Required Minimum Distributions (RMDs): For both employer plans and IRAs individuals are required to take periodic distributions beginning at age 70 ½. However, if an individual continues working past age 70 ½ they may not be required to to RMDs from their employer plan.

h. 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.

8. Taxes – Each investor’s tax situation is unique and SoFi does not give tax advice. Investors should consult a qualified tax advisor prior to making any rollover or transfer. The 1% Rollover match will be treated as interest earned on the account and won’t impact contribution limits.

9. Other Disclosures – SoFi reserves the right to change the Offer terms or terminate the offer at any time without notice. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to U.S. residents only. The offer is only available for personal use, and may not be used for commercial purposes.

¹ SEP IRAs are excluded from this offer.

² Automated Investing accounts are managed by SoFi Wealth LLC and are executed through SoFi Securities and are eligible for the Rollover Match.