Rocket Dollar Knowledge Base

I'm not a citizen or current resident (expatriate) of the US... Can I open a Self-Directed IRA and Rocket Dollar Account?

A non-resident alien and resident alien (green card) can still open an IRA or self-directed IRA in the United States if they have taxable income. Expats and non-citizens still need a US Mailing Address.

You need a mailing address in the United States.

This mailing address will make sure we can send written notices as well as comply with know-your-customer regulations.

Those with a physical address in Europe cannot open a Rocket Dollar IRA.

Because of additional compliance imposed by the European Union, our custodian partner is not accepting those currently living under the jurisdiction of the EU member countries.

We apologize, but we cannot serve your retirement account needs at Rocket Dollar at this time.

I'm not a citizen... what do I need to consider to see if qualify to open an IRA?

You must have income that is taxable in the United States

Retirement accounts are for tax advantaged status, to either defer taxes or grow income tax-free like a Roth IRA. You need current income or past income that is in another retirement account. Remember that you cannot withdraw savings until 59 and 1/2 for a Traditional IRA, and to plan accordingly.

Some non-resident aliens might qualify for Effectively Connected Income (ECI) for early withdrawals from tax-deferred retirement accounts.

Who qualifies as a resident alien for tax purposes?

you have a green card OR...

you are present in the United States for...

  1. 31 days during the current year, and
  2. 183 days during the 3-year period that includes the current year and the 2 years immediately before that, counting:
    • All the days you were present in the current year, and
    • 1/3 of the days you were present in the first year before the current year, and
    • 1/6 of the days you were present in the second year before the current year.

To be considered a nonresident alien for tax purposes, you can’t have a green card nor can you pass the substantial presence test mentioned above.

Be sure to check the tax treaties of your particular country of origin.

Certain countries have special tax treaties with the United States. Be sure to check them here.