Self-Directed IRA FAQs

Who is a disqualified person to my Rocket Dollar Self-Directed IRA?

A disqualified person cannot interact with your Self-Directed IRA for purposes of the prohibited transaction rule.

A disqualified person cannot interact with your Self-Directed IRA, or be closely associated with an investment. Below is a list of disqualified people.

  • You and your immediate family (spouse, parents, and children... but NOT siblings)

  • Spouses of your lineal ascendants and descendants

  • A fiduciary like your financial advisor

  • The IRA’s beneficiary.

  • If you or your immediate family own or control 50% or more of a company, that company is disqualified from the use of IRA investments.

  • Any entity where the IRA owner is an officer, director, or 10%+ partner or shareholder is a prohibited transaction because the IRA owner is a disqualified person to the IRA. For more information, click here.

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