IRA LLCs

How should investments Rocket Dollar Account LLC be titled? Can I have a custom LLC name for my IRA LLC?

Your LLC is titled as first initial, last name, RD LLC. For John Doe's IRA, it would be JDOE RD LLC

Any investment made out of an LLC should be titled in the name of the LLC. For example, if your name is John Doe, your LLC’s name is JDOE RD LLC, and if you purchase a rental property, you will have the property titled to JDOE RD LLC.

If you are doing business as (DBA) another title when dealing with your IRA, be sure to title all investments with your LLC name.

Custom LLC names can be requested by Gold customers during the IRA account opening process

You should be able to enter a name for the LLC during onboarding. Support will reach out to you to confirm this name selection. 

Who is the manager of the LLC?

You are the manager of your IRA LLC. This cannot be changed. When Rocket Dollar assists in the creation of an IRA LLC, it must be related to your personal identity. 

Who is the beneficial owner of my IRA LLC?

Your IRA is the 100% owner of your IRA LLC. Some entity signups will ask for this information. 

If you are using our Custodian Partner Solera National Bank

  • Solera Natl Bank, CUST for Firstname Lastname, Trad IRA (or ROTH IRA).

If you are using our Custodian Partner Goldstar Trust

  • Goldstar Trust Co. FBO FirstName LastName IRA Acct#

If you are using our Custodian Partner IRAR Trust Co.

  • IRAR Trust Co. FBO FirstName LastName IRA Acct# (Example account number would be 89-12345)

What if I don't have an LLC?


If you are using our Custodian Partner Goldstar Trust

  • Goldstar Trust Co. FBO FirstName LastName IRA Acct#

If you are using our Custodian Partner IRAR Trust Co.

  • IRAR Trust Co. FBO FirstName LastName IRA Acct# (Example account number would be 89-12345)

Why can't I use my personal name?

Because of prohibited transaction rules, especially self-dealing, you cannot use your personal name on any documents or pass personal assets between yourself and your IRA LLC. Even if you intended to own an asset with an IRA, but your personal name is all over the final documentation, this could still be an issue. If you are dealing with an investment issuer that is unfamiliar with IRAs, just make sure to ask for all final paperwork in the name of your LLC entity, and that you must sign as manager. 

How should this look on a W-9?

Use the below instructions for Line 1. 

If you are using our Custodian Partner Solera National Bank

  • Solera Natl Bank, CUST for Firstname Lastname, Trad IRA (or ROTH IRA).

If you are using our Custodian Partner Goldstar Trust

  • Goldstar Trust Co. FBO FirstName LastName IRA Acct#

If you are using our Custodian Partner IRAR Trust Co.

  • IRAR Trust Co. FBO FirstName LastName IRA Acct# (Example account number would be 89-12345)

W9 RD 2020

 

 

See Our IRA Plan