- • Traditional IRA
- • Roth IRA
- • 401(K)
- • Simple IRA
- • SEP IRA
- • 403(B)
- • Pension Plans
- • TSP - Thrift Savings Plan
- • Tax-Sheltered Annuities
You can also hold precious metals in Coverdell Savings Accounts and Health Savings Accounts. If you do not see your account listed here, call us for advice
What type of retirement accounts can be converted into a Gold IRA?
You will be the owner of physical precious metals. No paper certificates are involved.
What will be held in my IRA, a paper certificate or the actual physical asset?
Your gold is stored at an IRS-approved storage facility called the Delaware Depository Service Company, located in Wilmington, Delaware. Approved depository facility of NYMEX, COMEX, and CBOT
- • "All Risk" insurance coverage.
- • State of the Art Inventory Control and Security Systems monitored 24 hours a day, 365 days a year.
- • Detailed confirmation of assets received.
- • Allows you to store an unlimited amount of precious metals.
Where is my gold stored?
Yes. You may actually visit and inspect your precious metals at the Delaware Depository. If you want to take possesion of your metals through an IRA Distribution, you can either choose to have them shipped to you directly or you can sell them in your account and have cash wired into your bank account.
Do I have access to my gold in my IRA?
Most banks and custodians are neither approved nor capable of offering the services necessary to facilitate physical asset ownership. Most banks are only equipped for electronic trading and storing information in computers. In most circumstances, all your financial advisor can provide is assistance in purchasing gold ETFs or share of a mining corporation. As we discussed earlier, those do not provide the specific advantages of owning physical meals. Opening a new self-directed Gold IRA allows you the freedom to hold physical Gold and other precious metals directly within your qualified retirement account.
Why can't I hold precious metals within my existing IRA?
Providing diversification and liquidity with no credit risk, gold can be especially attractive during periods of increased market volatility. Many individuals and financial professionals choose to diversify retirement portfolios with alternative assets that are not correlated to the stock market.
Why do people diversify their portfolios with precious metals?
You can buy gold coins and bullion, silver, palladium and other precious metals that meet certain fineness requirements.
Can I buy physical gold for my Individual Retirement Account?
Not when your metals are held in an IRA. Your physical assets owned by an IRA must be held by a qualified custodian and stored in a secure, IRS-approved depository. Many depositories offer segregated or non-segregated storage. Segregated storage means that your personal metals are identified and stored under your name.
Can I keep my purchased metals at home?
The IRS requires that any IRA be administered by a qualified custodian. Self-directed account custodians do not provide investment advice, but they do provide administrative and reporting services, and will purchase precious metals on your behalf per your direction through your IRA account.
What does the custodian do?
The first step is to open and fund your Self-Directed IRA account. This can be completed through a traditional paper application, but many people choose to use our simple, online application process that can be initiated in under 10 minutes. With eSignature, the process can be completed entirely online. Equity Trust can initiate the transfer of funds if you’re rolling over from an existing account. The timing on this process is dictated by the custodian currently holding the funds.
How do I begin the IRA process?
After your account has been funded, you are ready to purchase precious metals within your IRA. Simply instruct your custodian to purchase your desired coin or bullion products.
What happens once my IRA has been funded?
You can at any time choose to retrieve your precious metals from the depository storage facility as a full or partial distribution. As with any early IRA distribution, taking a full or partial distribution of your precious metals may result in taxes and penalties unless rolled over to another qualified custodian. You may also choose to sell your metals back to an authorized dealer and the cash received would return to your IRA.
How easily can I liquidate my precious metals?
Generally, you may purchase coins minted by the U.S. government as legal tender, such as American Gold Eagles and American Silver Eagles (1 oz, 1/2 oz, 1/4 oz and 1/10 oz). Certain coins minted by other nations as legal tender may also be IRS-approved.
What kind of precious metals can I invest in?
Yes. An investor may have multiple IRAs, but no matter how many you have, your total annual contribution limits remain the same.
Can I have more than one IRA?
Yes. If you have an existing IRA or 401(k), you may fund an IRA by transferring either the full or a partial amount. Because the funds are being directed into another tax-advantaged account there will be no tax penalties. Equity Trust will facilitate this process at your direction.
The current law allows for both transfers from IRAs as well as rollovers from qualified retirement plans, such as 401(k), 401(a), 403(b), 457, Thrift Savings Plan (TSP) and annuities.
Can I transfer money from an existing IRA or 401(k) account to fund another IRA without incurring any tax penalties?
If you are under age 70 1/2, and have earned income, you’re eligible for an IRA, including one that holds precious metals.
Who is eligible for a Traditional IRA?
No. An IRA rollover is a tax-free process with no fees or penalties, if done according to IRS guidelines. Funds received from an IRA are not subject to penalty or taxation as long as they are deposited into your new IRA account within 60 days.
Are there penalties for moving my IRA or 401(k)?
You may receive distributions from your IRA in the form of physical gold, silver, platinum or palladium, depending on what metals are in your account. You may also convert your metals into cash.
In what form can I receive distributions?
At the age of 59 1/2, the beneficiary of an IRA may begin receiving penalty-free distributions from their account.
When will I be eligible for distributions from my IRA?
No. The IRA or 401(k) you already have can fund your Precious Metals IRA by transferring it using approved procedures. Your IRA custodian can explain how it works and help you make the transfer.
I want to start a Precious Metals IRA. Are there tax penalties for transferring money for it from the IRA account I have now?
Yes. Traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs and Solo are all eligible if the rollover is direct. Your IRA custodian can explain the details and limitations concerning the rollover or transfer.
Are all types of IRAs eligible to transfer or roll over?
Yes, you can start a new IRA with a contribution. When you make your first contribution to a new Precious Metals IRA, your total annual contribution for all IRAs is still the same.
Can I start a new IRA with Precious Metals?
The minimum GMRgold purchase for an IRA is $2,000.
What is the minimum dollar amount I can purchase from GMRgold for an IRA?
Our minimum purchase is set at $1,000.
What is the minimum dollar amount for Precious Metals I sell back to GMRgold from my IRA?
No. ETFs are exchange traded funds. You receive a stock certificate rather than the physical precious metal. ETFs are more advantageous for investors who are constantly trading, while physical precious metals make more sense for people who want to buy PMs and hold them for a longer period. With physical precious metals, you can always choose to have the physical precious metals in your possession.
Is owning a Precious Metals ETF the same as making contributions to a Precious Metals IRA?