What is a beneficial owner?

The account owner is the beneficial owner of the IRA LLC.

The U.S. Congress passed the Corporate Transparency Act (CTA), which you can read about here. The law includes limited liability companies (LLCs).

From the article, "The CTA requires reporting of persons who own, directly or indirectly, at least 25% of the ownership interests in a private company, or who control a private company."

A Rocket Dollar account holder with an IRA LLC should use their personal information when asked by an investment sponsor or issuer for the beneficial owner information for the IRA LLC. 

An investment issuer or sponsor may ask for this information as part of their onboarding process.