Each 401(k) or IRA has a one-time $360 fee for account setup. This is the upfront cost. Then, you pay $15 per month for account administration and compliance, including the first month at checkout. We don’t charge a fee for assets under management (AUM) or add-on fees for our new investments.
Good! Rocket Dollar wants to continue to make the Self-Directed retirement industry more accessible and keep your bill low and simple. We also don't nickel and dime our customers with new investment fees, extra annual account fees, AUM fees, account closure fees, promissory note fees, late fees, invoice fees, foreign asset fees, asset sale fees, or distribution request fees.
It is our goal to keep self-directed accounts affordable through better technology and scale while maintaining great service. When it comes to processes that are easily repeatable, like an IRA LLC structure, we don't want to charge thousands of dollars for the exact same process and documentation.
You will be selecting your own investments, each of which may have their own fees. These fees are set by the issuer, not Rocket Dollar. Rocket Dollar does not provide investments.
It is important for yourself or your personal financial advisor to research any investment opening, upkeep, or closing fees before making an investment decision.
Rocket Dollar works with preferred banking partners to obtain favorable and low-fee arrangements for our customers’ Self-Directed IRA or Solo 401(k) accounts. Your limited liability company (LLC) or trust bank account will help you manage, fund, and hold investments. We will help you get set up with our preferred banking partner during the account fulfillment process, and prospective customers can also contact Rocket Dollar for any questions about our preferred banking partner. (1-855-762-5383 Option 2)
Typically, the most common bank fee our customers see are simple wire money transfer fees, which are the preferred transfer method for a variety of alternative investments or large transfers instead of the normally available ACH.
Rocket Dollar will never charge to move cash retirement assets from one retirement account to Rocket Dollar or to have cash assets transfer to another retirement account outside of Rocket Dollar. We do not charge account closing fees and will work with you or any other party to transfer assets when it is possible.
If you have complex assets that are already self-directed that you are trying to move into Rocket Dollar, we could have to charge for the work to retitle the assets. Retitling and moving self-directed assets is much more complex than retirement cash transfers, but you can contact us for ways to move your assets and avoid any retitling fees if possible.
If our custody partner has to charge a retitling fee, it could be $100 fee per asset that needs to go through a complete retitling process.
Expedited service prioritizes your account fulfillment and costs an additional $200 per account, due at signup.
Normal accounts can take 2-4 weeks from the day of payment to being fully funded. For more on expedited service and why it can take so long to open a self-directed account, click here.
The account setup fee includes the initial filing fee if you’re using an LLC inside a Rocket Dollar Self-Directed IRA or a trust inside a Rocket Dollar Self-Directed Solo 401(k). Your $15 per month maintenance fee will also cover the annual fee for the LLC or Trust. We use a Colorado LLC by default.
Those must be set up by you, the customer. Rocket Dollar does not currently offer any services to open additional LLCs. Your Colorado LLC acts as an "umbrella" LLC that can become a 100% or partial owner in downstream LLCs. As you create LLCs to invest in, your Colorado LLC remains above these investments in your IRA.
For example. You create a real estate LLC in your IRA that deals with 3 properties, and your IRA becomes a 100% owner. This would not be commingled with your private placements, stocks, and bond investments, but your Colorado LLC is a 100% owner of all of these assets.
There are a few exceptions to the LLC Fees, and specific state rules.
If you have further questions about fees, please contact our sales team. We want to bring full transparency to the self-directed model. Contact us at 1-855-762-5383 option 2.
No. there are no account closing fees at Rocket Dollar. We will simply deactivate your account. Your charge for an upcoming month happens on the first of the month, and it will be the last fee charged unless you reactivate your account.
Be aware, that if you have custody of an asset inside of your retirement account, you will have to keep that in a self-directed retirement account with proper compliance or risk your IRA being distributed or losing your asset. You would have to retain that asset with Rocket Dollar could easily roll over that asset to another self-directed retirement provider.