You'll need a current photo ID such as a driver's license, state-issued ID, or passport.
For IRA plans you will also need information for at least one beneficiary.
Foreign nationals residing in the US will need to provide a permanent resident card.
For IRA Plans, our partner IRA custodian - IRA Resources - must verify your identity to comply with banking regulations.
The custodian is responsible for this verification, not us. We simply collect the documentation on their behalf during the application process.
Solo 401(k) Plans don't require this verification for our work since there's no custodian involved.
However, you'll still need identification when you open your plan bank account.
States don't always require you to update your driver's license immediately when you move.
If your current address differs from what's shown on your ID, provide a recent utility bill, lease, or other official document showing your current address.
IRA Account require at least one designated beneficiary. You'll need the full legal name, date of birth, Social Security number, and contact information (address, phone, email) for each beneficiary you want to name on your account.
You can open your account with just one beneficiary and add other beneficiaries easily in the future if you do not have this information handy.
We maintain institutional-grade data security protocols. All information is transmitted and stored using encrypted systems, and we enforce strict physical and digital security policies to protect your sensitive data.
Once your plan formation is complete, we purge information we no longer need, including your photo ID.
This means you may need to provide identification again if you establish another plan in the future, but the security benefit is worth that minor inconvenience.
Your privacy and data protection are fundamental to our service model.
We retain only what's legally required for plan administration and IRS compliance.
This information is provided for educational purposes only and should not be interpreted as tax, legal, or investment advice. Readers are encouraged to consult a qualified professional who can offer guidance based on their personal situation.