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

• Share Registry

• 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, credit card statements, lease agreements, 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 — issued by the IRS

• Operating Agreement — with the 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

Many newly formed entities don't have a dedicated business address or a business bank statement yet. If that applies to you, you can provide an account opening letter from your bank instead. The letter must:

• Be on bank letterhead

• Be dated within the last 90 days

• Be addressed to the entity your Kraken account is under