How do I sign up for a cryptocurrency exchange account at Gemini once my Rocket Dollar account is created?

Once your Checkbook IRA is created, you can use the Trust name and EIN to sign up for an account at Gemini, in the name of the Trust. For a Solo 401(k), open an account in the name of the plan. Some older clients have an IRA LLC with a Colorado LLC and will input their LLC name.

How long will this process take?

Applications during low demand typically take two (2) weeks. Applications can take much longer to complete during times of significant demand, such as an extreme dip or surge in crypto prices. Be aware of current market conditions and understand you could be applying simultaneously as many other crypto investors and institutions. Extreme surges in demand can make application time stretch to 6–10 weeks.

When you finish your account application, follow this link to inform us so we can contact Gemini and they are aware they need to prioritize your application. An automatic notification will go out to the Gemini onboarding team that you are a Rocket Dollar client.

How do I start to sign up for my Rocket Dollar account at Gemini?

You will start all signups on https://exchange.gemini.com/register/institution/wizard

Create an Admin Profile

  1. Create a Rocket Dollar account, either a Checkbook IRA or Solo 401(k). 
  2. Gather your Rocket Dollar IRA Trust or Solo 401(k) documents from your client dashboard. Older Rocket Dollar clients will have an IRA LLC.
  3. Click the following link to begin the Gemini Institutional Client Registration: exchange.gemini.com/register/institution/admin
  4. You will first register for an institutional account and password.
  5. Enter your home address or the one you signed up with a Rocket Dollar account., your IRA Trust is linked to your address provided at signup. For older clients with an IRA LLC, it is still your home address. Rocket Dollar does not provide a business address in Colorado, just a registered agent.
  6. Provide your ID pictures using the Onfido service.
  7. Verify your email address.
  8. Add authentication. Gemini uses the app “Authy” as an authentication tool. Two-factor authentication is strongly recommended for a cryptocurrency service.

Fill out the Gemini Institutional Account Application

  • Legal Business Name: Enter the name of your IRA LLC or IRA Trust
    • Industry: Investment
    • Business Type: Self Directed IRA, 401(k), Personal Pension
  • Federal Tax Classification: Other
    • Disregarded Entity IRA Trust/Disregarded Entity IRA LLC
    • EIN: Enter the EIN of your IRA Trust or IRA LLC 
  • Registered Company Address 
    • Enter your home address (whatever was given at signup)
    • Is the company address the same as the principal place of business? YES
  • Business Activities: 
    • Proprietary Trading/Investing Company Profits
    • Source of Funds: PENSION/Retirement (even if you have an inherited IRA)
    • Will the company be linking a bank account from a jurisdiction other than the jurisdiction of incorporation? NO, Bank United, Rocket Dollar's partner bank, is also in the United States. State jurisdiction does not matter for this question.
  • Financial Estimates
    • Expected yearly funding Answer these questions truthfully. Regulations require them for anti-money laundering purposes. Your estimated activity should be as consistent as possible with your expected transaction volumes, but it need not be exact.
  • Estimated yearly trading volume: Your estimated activity should be as consistent as possible with your expected transaction volumes but need not be exact.
  • Owners and Control Persons
    • You are the beneficial owner of the IRA Trust or IRA LLC. Please complete the individual section for Gemini (yes, even with a Trust) with your personal information. You are ultimately the beneficial owner of your IRA Trust or Solo 401(k) plan. Enter 100% for % Beneficial Ownership.
  • Control Person
    • Control Person: Fill out the same information with your personal information.
    • Title - Manager: Both Checkbook IRA  and Solo 401(k) users should put “Trustee.” If you have the previous IRA LLC account, you are the “manager” of the LLC.
  • Company Documents: 
    • W9: Here are the instructions for an IRA Trust. Solo 401(k) users can follow these instructions. IRA LLC users should follow the instructions here. This document shows the tax-exempt status of an IRA
    • Copy of Retirement Plan or Trust Agreement: IRA Trust owners should download their trust agreement. IRA LLC owners should download their operating agreement. These can be downloaded through your dashboard (app.rocketdollar.com/login) in Profile> DOCUMENTS>User Documents.
    • Pension/Retirement Account Statement: You can provide an old statement from the account you rolled money over (such as Fidelity or Vanguard) or a screenshot of your Rocket Dollar dashboard.
  • Possible Email Follow-up on Source of Wealth questions: Gemini might ask specific questions about how funds were acquired. The source of wealth should be as specific as possible for your situation, such as the name of an employer, employment verification letter, paystub, recent W-2, LinkedIn profile, etc. Describe how you make money outside your retirement accounts, and then you can mention this is coming from a retirement account. Create a PDF or screenshot of these documents. Gemini and many crypto exchanges need to know this information for Know Your Customer (KYC) regulations. Gemini also has additional compliance requirements to comply with the state of New York Bitlicense. This is the most common generator of FAQs in the application. If you pause your application process to ask Rocket Dollar questions about how or why a source of wealth is needed, it will delay your application. If you are unsure or have privacy concerns, submit your application to Gemini, but be prepared to answer additional questions, or provide additional documents to the Gemini onboarding team. Below are some examples of descriptive answers.
      1. “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.”
      2. “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.”
      3. “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.”
      4. “Military Vetern Savings in government-sponsored retirement TSP plan rolled over to Rocket Dollar IRA. I was a sergeant in the Marine Corps."

Can Gemini Prioritize my application as I'm a Rocket Dollar customer?

When you finish your account application, follow this link to inform us so we can contact Gemini and they are aware they need to prioritize your application. An automatic notification will go out to the Gemini onboarding team that a Rocket Dollar customer is applying.

How do I get funds to Gemini?

Rocket Dollar does not control the movement of money in your checking accounts. After you authorize a rollover, our team helps our custodian pull money from your old IRA and deposit it into your partner bank account. Once your Gemini account is open, you can start a wire transfer. Make sure you have filled out the direction of investment form so that funds are not delayed in moving from your IRA account to your individual trust bank account.

Make sure you continue to work with the Rocket Dollar support team to get your account funded, so you can move money from Bank United to Gemini once your Gemini account is complete.

Never send cash from other sources directly to your IRA bank account or Gemini account without checking with rocket dollar support first. Removing dollars can cause an IRA distribution, and putting dollars in without an official contribution form will not be recorded on official custodian records reported to the IRS. Failing to he this warning can cause significant tax issues for years of the future, as contributions or distributions are not properly recorded.

Only once funds have first flown through the IRA, can they be used and wired at will to Gemini.

  1.  

Was this article helpful?

0 out of 0 found this helpful

Comments

1 comment

  • Comment author
    Carlos N. Mertz

    TRACKING DOWN LOST BITCOIN AND OTHER CRYPTOS // USE WIZE SAFETY RECOVERY.

    How to find lost Bitcoin?
    Can I recover my lost Crypto?

    If you've lost your Crypto wallets or had your funds stolen, Wize safety recovery and have the chance to recover all your stolen funds or have your lost or compromised wallets recovered back.

    Cryptocurrency Scam Recovery // Recover Lost Funds // Crypto Investment Gone Wrong. How To Hire A Hacker To Get Back Stolen Crypto Coins // Hire A Hacker To Recover Lost Or Stolen Bitcoin/Nft // Help I Can't Access My USDT Account, Seems I Got Hacked // Bitcoin Recovery Expert Needed.


    Email Add; Wizesafetyrecovery @ Gmail com...

    0

Please sign in to leave a comment.