Should I register my Colorado LLC as a foreign entity?

To comply with state laws, Rocket Dollar recommends registration with the state where the real estate property is located if you are renting the property.

What state LLC do Rocket Dollar accounts default to?

Rocket Dollar uses a Colorado LLC. They are affordable, business friendly, and easy to work with, enabling us to deliver better value to our customers.

What should I do if I own property in a state other than Colorado?

Generally, your LLC should be registered as a foreign entity if you start renting out that property to tenants. Also, if you are investing in fix and flips and doing more than one per year, you should register your LLC in the state or states where the properties are located.

Why? When you are renting a property, you are considered to be "doing business" in the state and you have to comply with state business codes. 

You should contact us at info@rocketdollar.com (1 855-762-5383) or customers can contact support from the top right of their dashboard. Investing in California or California residents will need specific instructions as well, so contact us or read this article.

What about the Solo 401(k)?

The Rocket Dollar Solo 401(k) is a retirement trust. Trusts typically do not have to be registered in states like LLCs.

Please consult with an attorney or CPA.