What is the step-by-step process to open a Direct Custody IRA?

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Direct Registration Account Opening Instructions

Please follow the steps below to open a Rocket Dollar direct registration account.

During the fulfillment process, you may receive communication from Rocket Dollar. Therefore, please be sure to monitor your account and your email, including the spam or junk mail folder(s), for any correspondence regarding pending items.

How to open a Rocket Dollar IRA and fund your investment

Step 1: Sign up online using app.rocketdollar.com/login. Select IRA. Then select Direct Custody IRA. Traditional or Roth IRA. If you have questions about the other account types, or what can roll over or transfer to your IRA without tax implications, please contact our sales team at info@rocketdollar.com or 855-762-5383.

Step 2: Within 2 business days, your IRA account will be opened, and Rocket Dollar's support team will contact you by email to provide you with your account number. You will receive instructions on both a transfer (2) and how to invest (5). Starting your transfer is most important.

Step 3: Once your information is submitted, an account number will be generated. Our support team will email funding instructions to initiate the Rocket Dollar transfer through the online dashboard.

Step 4A: Digital Trust will be notified to send a semi-prefilled transfer form to your email address on file. Please complete the transfer request form as instructed by Digital Trust, who will remit your request to the losing custodian.

Step 4B: Rocket Dollar & Digital Trust will complete their portion of the transfer form and send it to your current custodian.

Step 5A: 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. Here is a list of asset documents required. Be sure to include wire instructions.

Step 5B: After your deal review has been approved and your paperwork is in good order, your funds will be released to the investment of your choice, according to the Direction of Investment form & wire instructions.

We recommend following up with your point of contact to verify the funds have been received, and that your account is in good order.

To learn more about our Direct Custody account, please visit our previous article here.

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