Rocket Dollar Knowledge Base

I am an expatriate of the US/I'm not a citizen. Can I open a Rocket Dollar Self-Directed IRA account?

An expatriate or a resident alien can open a Self-Directed IRA account in the United States if they have a taxable income and mailing address.

You need a mailing address in the United States.

This mailing address ensure 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 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, either to defer taxes or grow income tax-free like a Roth IRA. You need current or past income that is in another retirement account. Remember that you cannot withdraw savings until 59 and 1/2 for a Traditional IRA, so 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 reside in the United States for...

  1. 31 days during the current year, and
  2. 183 days during a 3-year period that includes the current year and the 2 years immediately before, 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.

 

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