Security

Does Rocket Dollar have direct access to the funds in my account?

No, your dollars will be held with our preferred custody partner and bank partner. You will approve any investment, funds transfer, or rollover decisions.

Rocket Dollar does not handle any of your monetary assets.

With a Rocket Dollar Self-Directed IRA you will make contributions and/or process a rollover from another plan to Rocket Dollar’s custody partner, and then you’ll open a business bank account with our preferred banking partner. The custody partner will then deposit your funds into your LLC with a transfer of funds to the LLC’s business bank account. From there, you will have control over your funds at all times, and are the only one who retains move-money authority.

With a Rocket Dollar Self-Directed Solo 401(k) you will receive plan documents that will tie the plan to your sole-proprietorship or business. Then, you will open a trust account at our preferred banking partner. You will have control over your funds at all times and are the only party that has authority to move money. You will decide what investments to make and you can make the investments by writing a check, using a debit card, sending a wire, or an ACH.

Does Rocket Dollar take any move money authority?

The only time Rocket Dollar takes direct money moving authority is after you sign to approve a transfer from another retirement account. The Rocket Dollar support team will work with your current custodian to move the retirement funds from to the bank account connected to your Rocket Dollar account at our partner bank. 

Once the funds have landed in your bank account, you retain full - move money authority over the account. Rocket Dollar will not take any direct authority to move money unless you work and approve a transfer with another custodian to pull the money in a rollover/transfer, you close your account or Rocket Dollar account.