How To Close SoFi Invest Account (2025)

How to close a SoFi Invest account online, on mobile app, or on the phone. Fee to delete a SoFi Invest brokerage or IRA account.

How to Close an Account at SoFi Invest

Closing a SoFi Invest account is easy, but you should know a few steps.

You can close or move either a robo or self-directed account. If you transfer your account with ACATS to another broker, it closes automatically.

Closing a SoFi Account by Selling Everything

To close a brokerage account, sell all your investments, move the cash out, and then close the account. You can do this in the SoFi Invest app.

For a self-directed account, sell all your investments (SoFi Invest will perform this step for a robo account). After the cash is ready, transfer it out. The account balance must be $0.00 before you close it. If the balance is negative, fix that first.

To transfer cash out, click “Transfer money” on the website or the app. Choose “Full Balance Withdrawal.” That also closes a robo account.

If you have a linked crypto account, its balance must also be $0.00. Turn off any recurring buys or deposits.

When you’re ready, open the app, tap Invest at the bottom, then tap Profile. Scroll down and tap the red delete button. Follow the prompts.

For help, use the chat on the website or app. In the app, open the menu (tap the little person) and tap Help. You can also call weekdays at 855-456-7634.

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Closing a SoFi Account by Transferring

If you don’t want to sell for tax reasons, transfer your account to another broker. After the transfer, your SoFi account closes.

Start an ACATS transfer with the new broker. After you open the new account, set it up for the transfer. For example, add margin if you’re moving a margin loan.

ACATS doesn’t move fractional shares. Sell them first. If you don’t, SoFi will sell them later and send the cash a few days after your other assets.

To start, log into your new broker account. Use its transfer tool to move assets from SoFi. Pick a full transfer so your old account closes.

SoFi Invest charges $100 for an outgoing ACATS transfer. Some brokers, like Robinhood, will refund that fee.

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Tax Issues

Withdrawing money from a retirement account or selling investments in a taxable account can have tax effects. This applies to both self-directed and robo accounts. Consider talking to a CPA before you close or withdraw.

Updated on 5/5/2025.

About the Author

Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.