How to designate beneficiaries at SoFi
Covers 2 deposit, 3 investment, 4 retirement, and 2 lending accounts — beneficiaries can be managed online
Death Claims
SoFi Bank, N.A., 2750 E Cottonwood Parkway, Suite 300, Cottonwood Heights, UT 84121
Preparing your SoFi accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and aligning account ownership with your broader estate plan. Both approaches bypass probate, but they work differently depending on the account type.
The transfer rules at SoFi vary across 11 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
- Navigate to account settings and select the beneficiary option
- Add up to 5 primary and 5 secondary (contingent) beneficiaries
- Provide each beneficiary's full name, Social Security number, date of birth, and U.S. address
- Balances are split evenly among primary beneficiaries; secondary beneficiaries receive funds only if no primary beneficiary is living
- Select the gear icon, then click on "Beneficiary"
- Add or modify beneficiaries as needed
Special Requirements
- Up to 5 primary beneficiaries per account
- Up to 5 secondary (contingent) beneficiaries per account
- Each group of beneficiaries receives equal shares (no custom percentages)
- Only individuals who are U.S. citizens or residents and over 18 are eligible
- Trusts, minors, and non-U.S. citizens cannot be named as beneficiaries on any SoFi product
- Beneficiary information required: full name, SSN, date of birth, U.S. address
Sources
Data sourced from SoFi primary sources (20 pages reviewed). How we research.
Download these SoFi instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against SoFi primary sources. Bring it to the branch or keep it beside the phone.
Death Claims
SoFi Bank, N.A., 2750 E Cottonwood Parkway, Suite 300, Cottonwood Heights, UT 84121
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