How to set up a Self-Directed IRA business account on Kraken

The most common reason verification gets delayed is selecting the wrong industry on the form. When the industry is incorrect, the form won't request the documents we need to verify a Self-Directed IRA — which means we'll have to come back to you for more information.

When completing your form, select Self-Directed IRA as your industry type.

Have these ready before you start to avoid back-and-forth:

• Certificate of Formation

• Proof of Business Operating Address — must contain the legal name and operating address of the business and be dated within the last 3 months. Acceptable documents include bank statements, letter from your bank, credit card statements, lease agreements, tax documents and utility bills.

• (If you do not have a business document showing the operating address and the business operates from your residential address, you may provide a personal proof of address document instead.)

• EIN Letter — A copy of your original EIN letter issued by the IRS, or 147C, CP 575, 1120, 990, or Schedule K-1 of Form 1065

• Operating Agreement with Custodian

• Proof of Source of Funds (POSOF)

You can also find the general business documents we request from every entity here.

If your entity is newly formed, you may not have a business bank statement yet. In that case, you can provide:

• A personal bank statement showing the assets you intend to deposit into the account, or

• A statement from another exchange or financial institution showing those funds