Fill out the W-9 according to the steps outlined below. Many investment issuers and sponsors will ask you for a completed W-9.
A W-9 is not always needed to complete an IRA investment, but many compliance, tax, and legal departments of investment issuers require it to be completed as part of their onboarding process and to take special note of your Self-Directed IRA's tax status and how it might differ from their average taxable clients. When requested, it is best to submit one to make sure your retirement account's tax status is tagged and known by their tax reporting team at the investment issuer’s internal records.
This article is designed to assist Rocket Dollar customers who custody their IRA at Rocket Dollar’s partner Digital Trust.
If AET is your custody provider, please contact the support team and AET and they will generate a W9 signed by the custodian.
Why would I fill out a W-9?
Your investment issuer or sponsor may ask for a W-9 form so they can handle tax reporting appropriately.
Filling out the W-9
- For Line 1, use the following formula: Name of Custodian, FBO First Name Last Name IRA. For example, if you have a Rocket Dollar Self-Directed Traditional IRA LLC, your Line 1 will say: "Digital Trust, Custodian FBO John Doe Traditional IRA." Be sure to use the right custodian.
- Rocket Dollar's custodians are Digital Trust, IRAR Trust Company, and AET.
- For Line 2, enter your LLC name.
- For Line 3, check the box for a sole proprietorship or single-member LLC.
- For Line 4, enter "1" as the exempt payee code. This is important because this is how you indicate to your investment issuer/sponsor that your account is tax-exempt.
- For Lines 5 and 6, enter the address for the LLC (e.g., 1111 Anywhere Avenue) For most customers, this address is the address you used when you signed up for Rocket Dollar.
- For Part 1 Taxpayer Identification Number, enter the EIN of your IRA LLC in the box.
- For Part 2, sign your name and you can include "Manager" as your title on the signature line if there is room.
Download and print a blank W-9 from the IRS here. See the example below.