What are the fees and pricing for a Rocket Dollar Account?

Created July 06, 2021 20:33

Account Type	Setup Fee	Monthly Maintenance Fee
Rocket Dollar Silver	$360	$15/mo
Rocket Dollar Gold	$600	$30/mo

Each Rocket Dollar Silver IRA or Solo 401(k) has a one-time $360 fee for account setup. This is the upfront cost. Then, you pay $15 per month for account administration and compliance, including the first month at checkout.

We don’t charge a fee for assets under management (AUM) or add-on fees for our new investments.

These fees are low compared to what I'm used to for checkbook control...

Good! Rocket Dollar wants to continue to make the Self-Directed retirement industry more accessible and keep your bill low and simple. We also don't nickel and dime our customers with new investment fees, extra annual account fees, AUM fees, account closure fees, promissory note fees, late fees, invoice fees, foreign asset fees, asset sale fees, or distribution request fees.

It is our goal to keep self-directed accounts affordable through better technology and scale while maintaining great service. When it comes to processes that are easily repeatable, like an IRA LLC structure, we don't want to charge thousands of dollars for the exact same process and documentation.

What about Rocket Dollar Gold and expedited service?

Rocket Dollar Gold is $600 at sign-up and then $30 a month. This is for Rocket Dollar customers that request a premium experience through all parts of their investment process. Account opening and transfers are all expedited. Click here for a full list of Gold features.

Self-Directed IRAs are to be opened and funded in 15 calendar days
Self-Directed Solo 401(k)s can be opened and funded in 15 calendar days

Normal Rocket Dollar Silver accounts can take 2-4 weeks from the day of payment to being fully funded. For more on Rocket Dollar Gold's expedited service and why it can take so long to open a self-directed account, click here.

Can I open any product with a Silver or Gold Account?

The Traditional IRA, Roth IRA, and Solo 401(k) can all be bought with either Silver or Gold. Our SEP-IRA, Inherited IRA or IRA/Solo 401(k) going through a full in-kind transfer process of an alternative asset instead of cash requires a Gold account.

What about transferring and rollover fees?

Rocket Dollar will never charge to move cash retirement assets from one retirement account to Rocket Dollar or to have cash assets transferred to another retirement account outside of Rocket Dollar. We do not charge account closing fees and will work with you or any other party to transfer assets when it is possible.

If you have complex assets that are already self-directed that you are trying to move into Rocket Dollar, you would need to liquidate your assets and transfer everything over as cash and repurchase these assets once your cash has been successfully transferred to our partner custodians.

If you have a Self-Directed Asset that needs transferring, please understand that Rocket Dollar does NOT accept in-kind transfers. Click here to learn about in-kind transfers.

Will my investments have fees?

You will be selecting your own investments, each of which may have its own fees. These fees are set by the issuer, not Rocket Dollar. Rocket Dollar does not provide investments. Through checkbook control, your IRA can access almost any investment allowed by the IRS through checkbook control. The investment platforms on our Partners page are simply suggestions and companies we know have experience in taking self-directed IRA funds.

It is important for yourself or your personal financial advisor to research any investment opening, upkeep, or closing fees before making an investment decision.

What are the bank fees?

Rocket Dollar works with preferred banking partners to obtain favorable and low-fee arrangements for our customers’ Self-Directed IRA or Solo 401(k) accounts. Your limited liability company (LLC) or trust bank account will help you manage, fund, and hold investments. We will help you get set up with our preferred banking partner during the account fulfillment process.

You can read a full list of bank fees we have negotiated for our customers here.

What about LLC and Trust Fees? Does it matter what state I'm in?

The account setup fee includes the initial filing fee if you’re using an LLC inside a Rocket Dollar Self-Directed IRA or a trust inside a Rocket Dollar Self-Directed Solo 401(k). Your $15 per month maintenance fee will also cover the annual fee for the LLC or Trust. We use a Colorado LLC by default.

What about other LLCs related to my account or that my IRA invests in?

Those must be set up by you, the customer. Rocket Dollar does not currently offer any services to open additional LLCs. Your Colorado LLC acts as an “umbrella” LLC that can become a 100% or partial owner in downstream LLCs. As you create LLCs to invest in, your Colorado LLC remains above these investments in your IRA.

You create a real estate LLC in your IRA that deals with 3 properties, and your IRA becomes a 100% owner. This would not be commingled with your private placements, stocks, and bond investments, but your Colorado LLC is a 100% owner of all of these assets.

There are a few exceptions to the LLC Fees, and specific state rules.

If you’re a California resident. California residents might need to use California LLCs or use a direct ownership IRA with no LLC and a different fee structure. Click this link for more info.
We also require our customers to register their LLC in the state if they are buying AND renting a property or running a full business inside their LLC to best serve the compliance required by the local state. You will be able to complete this obligation by registering your new Rocket Dollar LLC as a foreign entity in that state, but we will provide you with the appropriate info for your Colorado LLC. While renting out a property, and especially multiple properties, you may be regarded as a business entity and be subject to specific local real estate and renting laws. Rocket Dollar does not cover or pay for this service, but you will be able to register on your own. Foreign entity registration fees vary by state.

If you have further questions about fees, please contact our sales team. We want to bring full transparency to the self-directed model. Contact us at 1-855-762-5383 or schedule a call.

Are there account closing/cancellation fees?

No. there are no account closing fees at Rocket Dollar. We will simply deactivate your account. Your charge for an upcoming month happens on the first of the month, and it will be the last fee charged unless you reactivate your account.

Be aware, that if you have custody of an asset inside of your retirement account, you will have to keep that in a self-directed retirement account with proper compliance or risk your IRA being distributed or losing your asset. You can out of that asset and transfer cash, or you would have to retain that asset to roll over that asset to another self-directed retirement provider.

Does the Solo 401(k) have any other fees?

If our support team has to restate your plan documents at a client request, such as requesting to add a spouse to the account or a change to your business entity type after plan documents were already completed. We will charge a $50 fee to your account at the time of the request. To avoid this charge, please have your business entity type, and spousal participation plans sorted at the time of purchase of an account.

There is no charge for general regulation updates made by the IRS and those are covered by your monthly fee. Rocket Dollar will push out the electronic signature of your 401(k) documents with new legal language as soon as our legal resources are consulted and additional language is added to your documents. Make sure to follow support team updates and sign all documents during these changes so your plan documents do not fall out of compliance.