In-Kind Transfers
Rocket Dollar has decided to offer the in-kind transfer feature to a select group of investors. This offering is through invitation only and is available for a limited time, depending on incoming volume at Rocket Dollar. This offer excludes any publicly traded securities, as we are unable to hold such assets at this time.
Direct custody assets can be transferred with a silver membership. However, if you are wanting to transfer a checkbook IRA asset (IRA w/ LLC), then you are required to have a Rocket Dollar gold membership.
Please submit a request to the Rocket Dollar transfer in-kind waitlist, as we will not support an in-kind transfer request unless your information has been submitted and the team has given your written approval.
At this time, 2/17/2023, Rocket Dollar will not accept any in-kind crypto transfers but is exploring adding that to the in-kind transfer program. You can leave a submission to add yourself to the waitlist, but please be patient as we explore the important unique factors needed to best service crypto IRA clients.
In-Kind Transfer Waitlist
FAQs
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What fees should I expect to pay?
Rocket Dollar will charge the following fees based on the number of assets moved from the account. If your assets are all with the same custodian or simple to move, such as having all private placements, you can discuss that with our sales team.
In-Kind Transfer Specific Fees
- 1-5 assets: $175
- up to 10 assets: $300
- up to 15 assets: $450
- up to 20 assets: $600
- Additional $50 for each additional custodian.
New Account Opening Fees
Silver: $360 one time and then $15 a month
Gold: $600 one time and then $30 a month
- 1-5 assets: $175
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What type of IRA should I buy to do an in-kind transfer?
Rocket Dollar customers pursuing an in-kind transfer can select a Silver membership if the assets are held in a direct custody account. Please know that the transfer is dependent on the review and approval of our custodian, American Estate & Trust (AET).
For any transfers involving a "checkbook IRA" (IRA w/ LLC) members are required to purchase a Rocket Dollar Gold Membership.
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Why does Rocket Dollar not accept all in-kind transfers?
Some in-kind transfers are more complex in the alternative asset world than the stocks and bonds broker world, which has decades of infrastructure and agreed-upon daily updating values. Alternative assets need to be retitled properly in the new IRA and both custodians have to agree on the asset value. Failing to retitle assets properly could cause tax issues. Rocket Dollar believes in providing fair, affordable, but sustainable charged fees to run our business and please customers.
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Why does Rocket Dollar not accept cryptocurrency in-kind transfers?
Crypto security is paramount whenever an asset is being moved by a third party and increases risk as more parties are involved in accessing crypto or money movement mechanisms. IRA accounts are tied to traditional identity documents rather than pseudo-anonymous private crypto wallets. Rocket Dollar would look to solve these challenges before accepting crypto in-kind. At this time, you can always sell the asset and move it to Rocket Dollar in fiat cash, and then rebuy the asset with no tax consequences.
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Can Rocket Dollar support in-kind transfers of publically traded stocks and bonds?
Not at this time. Join our newsletter if you wish to hear about product updates.