IRA-Approved gold meets requirements set by the Internal Revenue Service for self-directed individual retirement accounts (SDIRA). The gold products must be at least 99.5% pure, or .995 fine, and produced by a certified government mint or manufacturer.
Most IRA-eligible gold is in the form of coins or bars, while many collectible items are excluded.
Are Other Metals Allowed in an IRA?
Silver, platinum, and palladium are also allowed in SDIRA’s, but the purity standards are not the same for all metals. Platinum and palladium products must be .995 fine like gold, but for silver products to be IRA eligible, they must be .999 fine.
What is a Precious Metals IRA?
Are you curious about rolling your 401(K) into a precious metals account? An Individual Retirement Account (IRA) is a savings account designed to provide retirement savings with tax advantages.
There are several kinds of IRAs, including traditional, Roth, SIMPLE, and Self-Directed.
If you want to roll your 401(k) into precious metals, you may want to consider a self-directed IRA. Precious metal IRAs are unique investment tools that allow for the tax-deferred purchase of precious metals distributed like other IRAs.
What Makes a Precious Metals IRA Different than Other IRAs?
One of the key differences between precious metals IRAs is that you can take physical possession of your gold, silver, platinum, or palladium products when it is time for distributions to begin.
All IRAs, including Roth, traditional, SIMPLE, SEP, and Solo are eligible for direct rollover into a precious metals IRA.
How Do I Buy IRA-Approved Gold?
To buy gold, silver, platinum, or palladium for a precious metals IRA, you will need to find an IRA custodian. T Custodians are banks, brokers, and other institutions that will help you manage your IRA.
With your chosen custodian’s assistance, establish your SDIRA.
Add your rollover funds and begin paying into your IRA. You can select the gold, silver, platinum, and palladium products for your custodian to purchase in your stead and hold in your account.
If you have more questions about gold IRAs, contact our IRA experts.
