Gold members with Direct Custody accounts may be fully funded and ready to invest in less than two (2) weeks if the surrendering custodian wires the funds to Rocket Dollar. Silver members with a direct custody account, and gold members with an IRA LLC, will experience a turnaround time of approximately two (2) weeks before the account is fully funded and ready to invest.
If you aren’t sure which Self-Directed IRA type to choose from please refer to our Custody or Checkbook article to learn more about the differences.
Checkbook IRA LLC Timeline:
- Within 24-48 hours our support team will email you to confirm your personal information, then you will receive the first set of documents to sign electronically:
- Formation documents for your IRA LLC (2-3 days)
- New account documents from Solera National Bank (4-5 days)
- Once your account has been approved, support will email you instructions to transfer funds through your Rocket Dollar dashboard.
- Once funds have been received at Solera, as LLC manager, you can now ACH, Wire, or request a checkbook/debit card to deploy your dollars to an alternative investment.
Silver: zero to funded in 3-4 weeks (21 days with up to 30 if there is an issue with your transfer).
Gold: zero to funded in 2 Weeks (14 days with as fast as 10 days if you work with our support team and existing provider to wire the dollars).
Direct Custody IRA Timeline:
Disclaimer: Please understand that although the Direct Custody Route is faster than the IRA LLC, the Direct Custody account setup timeline will also vary by investment and will require you to upload the necessary documentation as soon as possible in order to be reviewed by the custodian.
- Within 24-48 hours your account will be opened and Rocket Dollar support will send you an email with your account number.
- Follow support’s instructions to complete the Rocket Dollar transfer through the online dashboard
- Once they have been completed load the signed and dated forms into the Dropbox link provided to you by support and include your most recent statement.
- Rocket Dollar will complete their portion of the form and send it to your current custodian
- Once the transfer form has been submitted, you will receive another email from support titled “Investor of Record”.
- Follow the instructions to submit your investment deal documents and upload them to the Dropbox link provided.
- After your review has been approved your funds will be released to the investment of your choice
Silver: Zero to funded in 2 weeks, (If there is an issue with your transfer or account setup this can take up to 3 weeks)
Gold: Zero to funded in 10 days (if there is an issue with your transfer or account setup this can take up to 3 weeks)
Can I sign up for Direct Custody and then switch to the LLC once my account is set up?
It is possible for you to switch between accounts, however, this will not expedite the account opening process, if anything it will take even longer. Please be sure of the account type you wish to open, if you are not sure which account to choose from please contact our sales team for more information.
Is there a way to make it faster?
If you call your custodian, complete all requirements, and inform them to expect a rollover document, you will greatly decrease the amount of time before a rollover is processed.
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