The Rocket Dollar Self-Directed IRA LLC structure is set up to give you checkbook control over your deals and investments.
Rocket Dollar Self-Directed IRA with an LLC details:
- All LLCs default to Colorado. The business address of the Colorado LLC will be your home address, or whatever you signed up with Rocket Dollar.
- The IRA is the single member of the LLC and you become the manager of the LLC.
- All investments are below the Colorado LLC, which acts as the "umbrella" LLC over all of your investments.
- You can manage investments out of the LLC bank account at our partner bank.
- For more on specific state rules, please click here.
What about the deal review process?
With full checkbook control, you are the party with final approval on deals as manager of the LLC.
When you directly own an alternative asset in your IRA, it must be held with a non-bank trustee or custodian. Both traditional and self-directed custodians will only hold an asset for you as long as it is approved by their investment team. Once approved, the custodian will place its name on the investment for your retirement account's benefit.
In the Rocket Dollar model, your LLC reviews execute and hold the investment directly. There is no other party that can interfere.
I still don't understand why I need an LLC
You can check out our other article
What about the Self-Directed Solo 401(k)?
The Rocket Dollar Self-Directed Solo 401(k) utilizes a retirement trust. It does not use an LLC.
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