Overview
SoFi Bank is a leading digital-first financial institution serving over 7 million members with banking, lending, and investment products. When an account holder passes away, the estate representative must notify SoFi and follow their specific process to transfer or close accounts.
This guide covers SoFi's estate services process, the step-by-step notification procedure, required documents, and realistic timelines for different account types. SoFi operates as a national bank, so while their internal process is consistent, state-specific probate requirements will affect your timeline.
SoFi does not have a public-facing "Estate Department" phone line; instead, you will initiate the process through their general member support, who will route you to the appropriate specialist or provide a secure upload link for documents.
This guide provides informational guidance only. It is not legal advice, and SwiftProbate is not a law firm. Laws and institutional procedures change — verify current requirements directly with SoFi Bank and consider consulting a qualified attorney.
Notification Process
How to Notify SoFi Bank of a Death
Step 1: Gather Initial Information
Before contacting SoFi, have the following ready:
- Decedent's full legal name and date of birth
- Date of death
- Social Security number
- Account numbers (Checking, Savings, Invest, Loans, etc.)
- Your name and relationship to the decedent
- A certified copy of the death certificate
Step 2: Call Member Support
Contact SoFi's support team to report the death:
- Phone: (855) 456-7634
- Hours: Mon–Thu, 5 AM – 7 PM PT; Fri–Sun, 5 AM – 5 PM PT
What to expect: Select the option for "Checking and Savings" or "Invest" depending on the primary account type. Tell the representative you are calling to report the death of an account holder. They will verify your identity and the decedent's information.
When you reach an agent, they will:
- Verify the decedent's identity
- Place a deceased flag on the account(s), which freezes automatic payments and online access
- Create a support ticket/case number — write this down
- Explain which documents are needed based on account type(s)
- Provide instructions for submitting documents (often via a secure email link or physical mail)
Step 3: Submit Required Documents
SoFi typically accepts documents via mail or digital upload (if a link is provided by the agent).
Mail to:
SoFi Bank, N.A.
2750 E Cottonwood Parkway, Suite 300
Cottonwood Heights, UT 84121
Note: Always include a cover letter with the Case Number provided during your call.
Step 4: Wait for Processing
After SoFi receives your documents, expect:
- Acknowledgment: 3–5 business days
- Document review completion: 1–2 weeks
- Follow-up if additional documents needed: 1–2 weeks
Step 5: Receive Funds / Transfer Assets
Once all documents are approved:
- Bank Accounts: Funds are typically issued via check payable to the estate or the beneficiary.
- Invest Accounts: Assets may be transferred to a new SoFi account or liquidated and distributed via check.
Required Documents
Documents SoFi Bank Requires
The exact documents depend on account type, account value, and whether the estate is going through probate.
Always Required
| Document | Details |
|---|---|
| Certified death certificate | Original or certified copy |
| Government-issued photo ID | Of the person claiming the account |
| Letter of Instruction | A signed letter stating your request (close account, transfer funds) and where to send proceeds |
If There Is a Will (Testate Estate)
| Document | Details |
|---|---|
| Letters Testamentary | Issued by the probate court — must be certified and dated within 60 days |
| EIN (Employer Identification Number) | For the estate, if opening an estate account elsewhere |
If There Is No Will (Intestate Estate)
| Document | Details |
|---|---|
| Letters of Administration | Issued by the probate court |
| EIN | For the estate |
Small Estate (Below Probate Threshold)
| Document | Details |
|---|---|
| Small estate affidavit | State-specific form — check our state probate guides |
Beneficiary / POD / TOD Accounts
| Document | Details |
|---|---|
| Certified death certificate | Usually the only document needed |
| Beneficiary's ID | Copy of driver's license or passport |
Trust Accounts
| Document | Details |
|---|---|
| Trust certification or abstract | Proving the successor trustee's authority |
| Successor trustee identification | Government-issued photo ID |
Account Types
How SoFi Handles Different Account Types
Joint Accounts (JTWROS)
The surviving joint owner typically needs only a certified death certificate to have the decedent's name removed. Funds remain accessible to the survivor, though the account may be briefly frozen during processing.
Timeline: 3–7 business days
POD (Payable on Death) / TOD (Transfer on Death) Beneficiary Accounts
Named beneficiaries claim funds with a death certificate and ID. SoFi will verify the beneficiary designation on file and issue a check or transfer funds to the beneficiary's SoFi account.
Timeline: 1–2 weeks
SoFi Invest Accounts
- Individual Brokerage: Requires probate documents (Letters Testamentary) unless a TOD beneficiary was designated.
- Retirement (IRA/Roth): Named beneficiaries must file a claim. Spouses may assume the IRA; non-spouses typically open an Inherited IRA.
Timeline: 2–4 weeks
Individual Accounts (Probate Required)
Accounts held solely in the decedent's name with no beneficiary designation require Letters Testamentary or Letters of Administration from probate court. SoFi will issue a check payable to "The Estate of [Name]".
Timeline: 3–6+ months (depending on probate court speed)
Credit Cards and Loans
- Credit Cards: The account will be closed. Any outstanding balance is an estate debt.
- Personal/Student Loans: Notify the lending department immediately. Death certificates are required to discharge or settle debts. Student loan discharge rules vary by loan type (federal vs. private).
Timeline: Settled during estate administration
State Considerations
How Your State Affects the SoFi Process
SoFi operates nationally, but probate is governed by state law. Your state determines:
- Whether probate is required and how long it takes
- Small estate thresholds — estates below certain values can skip formal probate
- Community property rules — in the 9 community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI)
- Creditor claim periods — how long creditors have to file claims
Key State Variations
| State | Small Estate Threshold | Community Property? | Notable Rules |
|---|---|---|---|
| California | $184,500 | Yes | 40-day waiting period for small estate affidavits |
| New York | $50,000 | No | "Voluntary Administration" for small estates |
| Texas | $75,000 | Yes | Muniment of Title is a faster probate option |
| Florida | $75,000 | No | "Summary Administration" for small estates |
For detailed probate requirements, see our state and county probate guides.
Timelines
How Long SoFi Takes to Release Funds
| Account Type | Estimated Timeline | Key Factor |
|---|---|---|
| Joint account | 3–7 business days | Just need death certificate |
| POD/TOD beneficiary | 1–2 weeks | Beneficiary verification + death cert |
| Small estate affidavit | 2–4 weeks | Waiting period varies by state |
| Probate (simple estate) | 3–6 months | Depends on court processing time |
| Probate (complex estate) | 6–12+ months | Disputes, taxes, or multiple jurisdictions |
| Invest/IRA accounts | 2–4 weeks | Liquidation and transfer takes longer |
SoFi is a digital bank, which can sometimes speed up communication, but physical document review still takes time.
Tips & Pitfalls
Common Pitfalls and Tips
Do Not Withdraw Funds Before Notifying SoFi
Withdrawing funds via ATM or transfer after the date of death can be flagged as fraud and create legal liability for the estate.
Federal Benefit Payments Will Be Reclaimed
Social Security, VA, and other federal benefits deposited after death will be reclaimed by the government. Do not spend these funds.
FDIC Coverage Changes
For joint bank accounts, FDIC coverage drops from $500,000 to $250,000 (per owner) six months after a death.
Keep Records of All Communications
- Save the case number from your initial call
- Send documents via certified mail with return receipt
- Note the name of every representative you speak with
- Keep copies of all documents submitted
Request Multiple Certified Death Certificates
Order at least 5–10 certified copies — you'll need them for other institutions, the court, and government agencies.
Automatic Payments and Direct Deposits
Once the deceased flag is placed:
- Automatic payments will be declined
- Direct deposits will be returned
- Online/mobile banking will be disabled
Notify billers and payers separately.