Follow the steps below. Once your Rocket Dollar entity is created you can apply at River. River expects to be able to process accounts in two business days.
If you need to find important documents related to your Checkbook IRA, or Solo 401(k), you can go to app.rocketdollar.com/login > profile>documents>user documents.
Opening an institutional account at River:
There are three steps to open an IRA LLC/Trust or Solo 401(k) at River:
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Create an online River account here
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Download below and complete the River entity application with these instructions
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Complete and send in additional documentation, detailed below, which varies for a Checkbook IRA or Solo 401(k) trust to support@river.com
Institutional Application Instructions
IRA LLC clients, please access the application here.
IRA Trust clients, please access the application here.
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Company Information
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Full Name of Business:
- Enter the name of your Trust from your Trust Agreement. IRA Trusts Are Revocable Trusts, Solo 401(k)s are retirement trusts. Put other if necessary.
- Your Solo 401(k) Plan name is on your Plan Adoption Agreement.
- Older checkbook IRA clients will check for the LLC Articles of Incorporation.
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Business Name if different from above: Leave blank.
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Business Email and Phone Number: Enter your email and phone number.
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SSor TIN: Enter the EIN of your Trust, LLC, or Solo 401(k) Plan. Select Tax ID Number. Do not put your own social security number here, as it could cause tax issues.
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Company Website: Leave blank.
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Jurisdiction of Business Activity: Your home state. Even if an LLC or Trust was created under another state’s law, it always operates in the state you reside in.
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Business Address and Mailing Address
- Use the address you used when you signed up for Rocket Dollar.
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Investment Profile
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Annual Income: Put your annual income down
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Net Worth of Company: Enter the total assets of your Checkbook IRA or Solo 401(k) plan.
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Source of Funds in Account: Enter "Retirement account." Keep in mind that crypto services may ask further questions about your job or industry to ensure they are meeting KYC (Know Your Customer) laws like the Patriot Act or the Banking Secrecy Act. Failure to answer these questions could delay your account opening progress.
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Purpose of Account: Enter "Invest in alternative assets."
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Estimated Buy Orders: Enter the number of orders you plan to make on a monthly basis. Make an educated guess.
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Estimated Sell Orders: Enter the number of orders you plan to make on a monthly basis. Make an educated guess.
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Estimated Buy Volume: Enter the total amount of dollars you plan to use in buy orders on a monthly basis. Make an educated guess.
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Estimated Sell Volume: Enter the total amount of dollars you plan to use in sell orders on a monthly basis. Make an educated guess.
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Business Activity Information
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This is a non-operating entity, as the trust, LLC, or Solo 401(k) is not a business, but a simple pass-through entity.
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Primary Purpose of activity: Enter "Investing in alternative assets for a retirement account."
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Business Entity Structure
- Check the box for Other for an IRA Trust or Solo 401(k) Plan. Check Limited Liability Company for an IRA LLC account.
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Authorized Individual
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Please complete this section using the account owner's personal information, including the account owner's SSN. For cryptocurrency accounts and their high level of security, it’s unlikely that you should ever put another individual here.
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Official Company Title: For an IRA Trust or Solo 401(k) Plan, enter "Trustee." For an IRA LLC, enter "Manager."
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Source of Income: Enter the primary income source for the account owner. This question is important as all crypto companies must be able to meet Know Your Customer regulations due to the Patriot and Bank Secrecy Act. Below are some examples of acceptable answers for hypothetical individuals answering this question.
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“Former employer 401(k) funds from Tech industry jobs at Startup Hero and Amazon. My job title was database administrator at Startup Hero, and Database sales at Amazon."
- “Brokerage firm traditional IRA; rolled over from auto-industry employment retirement plan into the past. I was an on-site safety manager at Ford and Telsa.”
- “Self-employed 1099 income from real estate broker work and consulting gathered into my Rocket Dollar Solo 401(k). I was a real estate broker with HomeServices of USA and XYZ Realty.”
- “Military Vetern Savings in government-sponsored retirement TSP plan rolled over to Rocket Dollar IRA. I was a sergeant in the Marine Corps."
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Control Person(s)
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Fill out this section using the personal information of the account owner. Include the account owner's SSN.
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Official Company Title: For a Solo 401(k) Plan, enter "Trustee."
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For an IRA LLC, enter "Manager." Source of Income: Enter the primary income source for the account owner.
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Beneficial Owner(s) - Individual
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Fill out this section using the personal information of the account owner. Include the account owner's SSN.
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Official Company Title: For an IRA LLC, enter "Manager." For a Solo 401(k) Plan, enter "Trustee."
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% Ownership of Entity: Enter 100%.
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Source of Income: Enter the primary income source for the account owner.
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Form W-9
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For a Checkbook IRA with a Trust (Clients who purchased after January 1, 2024)
- For a Checkbook IRA with an LLC (Clients who purchased before January 1, 2024)
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For a Solo 401(k) Plan
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You will need to send additional documentation to support@river.com
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The title of the email should be Rocket Dollar -Checkbook IRA (Trust/LLC) or Rocket Dollar - Solo 401(k) (whichever applies to you).
Don't forget to mention you are a Rocket Dollar customer in the subject or email. You can get essential documents by going to app.rocketdollar.com/login > Profile > Documents > User Documents.
Please include the following according to your plan:
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Checkbook IRA with Trust
- River Entity Application, from the instructions above
- Trust Agreement
- Government-issued Issued Photo ID (US Driver’s License or Passport are acceptable) for the authorized user/Rocket Dollar IRA account holder.
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Checkbook IRA with LLC
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River Entity Application, from the instructions above.
- Articles of Incorporation
- LLC Operating Agreement
- Government-issued Issued Photo ID (US Driver’s License or Passport are acceptable) for the authorized user/Rocket Dollar IRA account holder.
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Solo 401(K) Plan
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River Entity Application, from the instructions above
- Solo 401k Adoption Agreement
- Government-issued Photo ID (US driver’s license or Passport is acceptable) for all trustees and grantors.
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Once the entity onboarding steps listed above are completed and accurate, River will send out the final application for signatures via DocuSign. After you and a River Officer have signed the final application, a member of River’s support team will confirm that the account has been created and is ready to be funded. Contact support@river.com, not Rocket Dollar support, for any account application questions. If you must contact Rocket Dollar about a cryptocurrency question, or a question about River, please message Rocket Dollar’s support team.
Account Funding
Use your Bank account information to complete an ACH or wire transfer to River. ACH transfers are available up to $100,000, wires have a $25 fee applied to Silver customers. Rocket Dollar Gold customers will get their first 4 domestic wires a year waived and/or covered in expense.
FAQ:
- Source of Funds Examples: Former employer 401(k) funds from Tech industry jobs at Startup Hero and Amazon. My job title was database administrator at Startup Hero, and Database sales at Amazon.”............... “Brokerage firm traditional IRA; rolled over from auto-industry employment retirement plan into the past. I was an on-site safety manager at Ford and Telsa.”
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As soon as your entity is created. Once our support team tells you that your account is ready for transfer, you can check your Rocket Dollar Dashboard, and download the documents you need.
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River expects to be able to open institutional accounts in two business days or less.
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First, check this list to make sure the state of your primary residence is supported by River.
Remember, when you applied to Rocket Dollar, your Rocket Dollar Colorado LLC or Solo 401(k) will have the address that was used at signup. The address that matters is the address of your primary residence.
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Currently, Rocket Dollar customers enjoy no minimum required investment at River.
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Contact support@river.com, not Rocket Dollar support, for any account application questions. If you must contact Rocket Dollar about a cryptocurrency question, or a question about River, please message info@rocketdollar.com. A representative from Rocket Dollar will be happy to answer your question. Our support team will handle questions like transfers, entity creation, etc.
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