What types of IRA accounts are eligible to be rolled into a Precious Metals IRA?
Many types of IRA accounts are ligible to be rolled into a Precious Metals account including
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Eligible 401(k), 403(b), 457, and other retirement plans
How do I rollover an existing retirement account?
It’s a fairly straightforward process. Our Precious Metals Specialist will work with you and our IRA Department to complete the proper paperwork to rollover your current account to a self-directed precious metals IRA.
How long does a 401K "rollover" take?
The timing depends on the type of IRA you have. For a 401k rollover, the funds are typically paid directly to you and you then have 60 day window to transfer them into the self-directed IRA account.
If you fail to do so in this 60-day period, you may face some tax penalties.
As always, when making these types of investment decision, we recommend you speak with your tax advisor or attorney.
Where are my Precious Metals Stored?
If you purchase precious metals for your SDIRA, the safety and security of those metals is of utmost importance to you, to us and to your IRA custodian. The metals are required to be held at an approved depository.
At VaultUS Gold, we give you an option on the depository where we will ship your metals. We work with Brinks Global Services U.S.A. or the Delaware Depository, both of which are IRS approved and carry “all-risk” insurance policies from Lloyds of London.
Both Brinks and the Delaware Depository have locations in jurisdictions with no sales tax on the purchase, administration, and storage of your precious metals.
Does a Precious Metals IRA provide the same tax advantages as other IRAs?
Yes. The same rules and tax benefits that apply to other IRAs also apply to Precious Metals IRAs.
Investments inside IRAs are taxed as ordinary income upon distribution. The same investments held outside of qualified plans are taxed as capital gains, which can be significantly less than the income tax for most investors.
Can I purchase precious metals for my existing IRA?
Traditional IRAs are not permitted to hold physical assets like gold and silver directly. However, there is a special IRA called a Self-Directed IRA (SDIRA) that does allow precious metals to be purchased and held within the IRA. You may open a SDIRA with an IRA custodian, or transfer or rollover your existing IRA to a SDIRA. One of our Client Success Reps would be happy to explain the process to you.
How do I get money out of my Precious Metals IRA?
A SDIRA holding precious metals can be lqiudated in several ways. Precious metals do not require liquidation or sale before a distribution, so you have a choice:
- you may liquidate inside the IRA
- you may remove them from the IRA in their physical form as ‘in-kind’ distribution.
