Digital Assets and Cryptocurrency

How do I sign up for a cryptocurrency exchange account at Gemini once my Rocket Dollar account is created?

For an IRA LLC, once your LLC is created, you can use the LLC name and EIN to sign up for an account at Gemini, in the name of the LLC. For a Solo 401(k), open an account in the name of the plan.

Where can I find the instructions?

You can scroll down to find the instructions for Gemini. 

How long will this process take?

As of March 15th, 2021, Cryptocurrency applications are at all-time highs and causing significant delays. Instead of 2 weeks, applications could need 6-8 weeks to open an account at Gemini.

How do I start to sign up for my Rocket Dollar account at Gemini?

You will start all sign up on https://exchange.gemini.com/register/institution.

First steps

  1. Create a Rocket Dollar account, either an IRA LLC or Solo 401(k) 
  2. Gather your Rocket Dollar IRA LLC or Solo 401(k) documents from your client dashboard

  3. Click here to begin the Gemini Institutional Client Registration: https://exchange.gemini.com/register/institution

  4. You will first register for institutional access, and then complete a full application once your initial submission has been reviewed by Gemini, which may take a few days

  5. Under ‘Company Type’, please indicate a ‘Personal/Private Investment Vehicle’

  6. Gemini wants your location to be centered on the state you reside. All Rocket Dollar customers receive a Colorado LLC, but the address is the address put down in the Rocket Dollar application. Do not use Colorado to "override" your home state.
  7. Then input your full name and applicable email address

  8. Once complete, your request will be submitted into their system

  9. Gemini will send you the institutional account application. Fill it out and follow the instructions. Help on the application is provided below, however, any questions on Gemini account fulfillment should be directed to Gemini, not Rocket Dollar.

Fill out the Gemini Institutional Account Application

  1. A follow-up email will arrive from the Gemini Support team, (support@gemini.com) providing their full PDF account application. Here is a Rocket Dollar link to download the application as of March 10th, 2021.

  2. Company information 

    1. For the full legal name, use the LLC name or the Solo 401(k) plan name. Use your primary residence address for the registered company address. 

    2. Jurisdiction(s) of Incorporation. For an IRA LLC use Colorado. If you have a Solo 401(k), use your home state. If Gemini does NOT do business in your state, you will not be able to open an account. An LLC from another state will not help. Note, this is not up to Rocket Dollar to decide. Add the EIN for the LLC or the Solo 401(k) plan. Add the date of incorporation from the LLC Articles of Incorporation or the day you signed the Solo 401(k) plan adoption agreement for the Solo 401(k). Ignore the CRD, MPID, NFA ID, and LEI. 
    3. Does the company have the ability to issue bearer shares: No
    4. Contact Person Information. Add your name, phone, and email as principal contact. 
    5. Business Activity Information 
      1. Nature of the business: Add "This is an IRA LLC or Solo 401(k) investment account."
      2. Company website: leave blank.
      3. Please list associations: Fill out if relevant, i.e. if you have a personal account at Gemini, add it here.
      4. ... linking of bank account: If your Rocket Dollar account is at Solera, leave blank. If your account is elsewhere, fill this out accordingly.
      5. ICO, Securities Exchange, Regulatory body, Money Service Business: check no for all.
      6. Money Transmitter: Check No and, "if no, please explain how this determination was made" answer with: "This is an IRA LLC or Solo 401(k). The company will only be used for retirement investing on behalf of an IRA or Solo 401(k)."
      7. BSA/AML program: check No.
      8. Jurisdictions of business activity: Use the state of your primary residence. Do not use Colorado unless your primary residence is in Colorado. 
      9. Anticipated trading volume, funding activity, and funding patterns: Answer truthfully and with the best assumption. 
  1. Authorized Users
    1. For the IRA LLC, add yourself. Your role and description is "LLC Manager." For the Solo 401(k), add yourself as the "Plan Trustee."
    2. Add in all the personal information requested.  
  2. Beneficial Owners (Individuals) or Control Persons.
      1. You are the beneficial owner of an IRA LLC. Please complete the Individual section (yes, even with an LLC) with your personal information. You are ultimately the beneficial owner of your IRA LLC or Solo 401(k) plan. Enter 100% for % Indirect Beneficial Ownership.
    1. Sanctions Representation and Agreement. Read and sign. If you are an IRA LLC,  your title is LLC Manager, for a Solo 401(k) your title is Trustee.
    2. Save and upload the completed document with a signature (wet or electronic) and provide the additional documents below.

      Submit the application to the file drop, in addition to the documents below:

      1. Completed account application. Refer to the instructions above.
      2. Formation document for the entity. This is your LLC Articles of Incorporation or your Solo 401(k) Plan Adoption Agreement, available from your Rocket Dollar Dashboard.
      3. Proof of beneficial ownership. You can submit the LLC Operating Agreement.
      4. Copies of photo IDs for all individual beneficial owners and authorized users.
      5. Signed and dated Form W9. Form W-9 with our instructions. Follow instructions and complete with the EIN of the custodian.  
      6. The source of wealth should be as specific as possible for your situation, such as the name of an employer, employment verification letter, paystub, recent W-2, Linkedin Profile, etc. Describe how you make money outside your retirement accounts, and then you can mention this is coming from a retirement account. Gemini and many crypto exchanges need to know this information for Know Your Customer regulations. Create a PDF.
      7. Complete all documents above and submit them to the secure file drop.

      How do I get funds to Gemini?

      Rocket Dollar does not have any move money control over your IRA LLC's or Solo 401(k)s checking account. After you authorize a rollover, our team helps our custodian pull from your old IRA and drop them into your partner bank. Once your Gemini account is open, you will initiate a wire transfer from your Solera account to add funds to the Gemini account.

      Make sure you have continued to work with the Rocket Dollar support team to get your account funded, so you can move money from Solera to Gemini once your Gemini account is complete. 

       

      Crypto Exchange Basic IRA Flow