Below are instructions for opening a brokerage account at TD Ameritrade.
If you want to use your IRA LLC to open a brokerage account and invest in publicly traded securities we recommend using an account from TD Ameritrade.
TD Ameritrade is the only brokerage firm we are aware of that has an account specifically for the IRA LLC. See the application here for the LLC, Investment Club, or Partnership Account Application here.
Here are instructions on filling out the application properly.
- Type of Account: Select Limited Liability Company. Also, check single member LLC AND check and IRA, LLC. You may need to print the application and fill it out by hand to select both.
- Funding Your Account: Select wire transfer or check, depending on how you plan to send funds to the brokerage account.
- Entity Information: Enter the name of the LLC from Rocket Dollar and use the Tax ID for the LLC from Rocket Dollar. Do not use your social security number. Section 3: Use your personal information here. Use your residence address for the Business Address. This is a US Entity from the state of Colorado. Type of Business: You can use code I81.
- Affiliations: Fill out if applicable.
- Authorized Agent Compensation: Do not check this box.
- Partner/Authorized Agent Only: Check the box for domestic entity and this person owns 25% or more. Add your personal information and employment information.
- Control Person: Check the box for domestic entity and this person owns 25% or more. Add your personal information here and your social security number.
- Beneficial Owners: Add your personal information here.
- Trade Confirmations and Account Statements: Choose your preferences.
- Offer Code: You can leave blank.
- Trusted Contact: You can add someone else here if you want.
- Investment Objectives: Choose your preferences.
- Financial Information: Fill out accurately.
- Margin Privileges: Check the box to decline margin. In an IRA LLC use of margin will trigger UBIT.
- Options Account: Choose your preferences here.
- Cash Sweep: Choose your preference.
- Member/Partner Signatures: Sign here in this section twice. Sign on the first signature line and print your name with “LLC Manager” appended to your printed name, like this: John Doe, LLC Manager. Then, sign again on the second signature line. Print your name as follows: “John Doe, FBO the IRA of John Doe.”
- Trading Authorization: Nothing to do here, but read it. This is where TDA says they are not your custodian. You indemnify TDA.
- Account Agreement: Sign and date this section.
Page 1 gives instructions on where to submit the account application. TD Ameritrade will send you a pin number and an account number is separate documents with your login instructions for your new account.