Rocket Dollar Knowledge Base

Back to home

Rocket Dollar Knowledge Base

Self-Directing Retirement Compliance and Self Care

Self-Directing Retirement Compliance and Self Care

Self-Directed Retirement accounts function similarly to IRAs you are used to but have some special rules to consider.

Fair Market Value (FMV)

What is Fair Market Value (FMV), and why is it important for my Rocket Dollar account?

I have a solo 401(k), do I still have to report FMV?

How do I report the Fair Market Value (FMV) of my investment?

Bank Accounts

Who is the custodian?

Is Rocket Dollar FDIC insured?

Why do I need a bank account with my Rocket Dollar Self-Directed account?

What do I need to know when I open my bank accounts?

Prohibited Transactions and Disqualified Persons

What are the penalties or fines for a prohibited transaction in my Self-Directed IRA or Self-Directed Solo 401(k)

Who is a disqualified person according to the IRS? How do I avoid prohibited transactions with them?

What are the common prohibited transactions I should be aware of?

What are some examples of prohibited transactions?

The people I trust to transact with or manage my investment are disqualified/prohibited persons. Who can I trust to help me?

What is the difference between a restricted investment and a prohibited transaction?

See more

Self-Dealing

Can I invest or loan money to the company I currently work or control?

What is "self-dealing"?

Tax Reporting

How do I fill out my W-9 properly for my IRA LLC?

How do I fill out the IRS W-9 form with my Solo 401(k) information?

Can I create a Solo 401(k) account without an EIN number or with my SSN?