Common Types of Retirement Plans that May Qualify
TRADITIONAL IRA
A tax-advantage arrangement that allows earnings and deductible contributions to grow tax- deferred. No income taxes are paid on the earnings and deductible contributions until withdrawals are made.
- Individuals may transfer an existing Traditional IRA to a qualified gold IRA with no penalties
ROTH IRA
A retirement arrangement that allows earnings and deductible contributions to grow tax-free. All of the tax benefits associated with a Roth IRA happen when withdrawals are made: withdrawals, subject to certain rules, are not taxed at all. There are no tax benefits associated with contributions because all contributions to a Roth IRA are made with after- tax monies.
- Individuals may transfer an existing Roth IRA to a qualified gold IRA with no penalties.
401(K) & OTHER EMPLOYER-SPONSORED PLANS
An employer-sponsored retirement plan that allows employees to save for retirement while deferring income taxes on the earnings until withdrawal.
- Individuals may, in some cases, convert an employer-sponsored plan into a precious metal IRA.
Frequently Asked Questions about Precious Metal IRAs
1) No. If you purchase gold or silver within your existing IRA you will not take possession of the metal. It is stored at an insured, regulated depository in your name. Once you reach the age of 59 1/2 you may then take delivery without penalty.
2) Yes. If you have a checkbook control llc IRA. Contact us for more details.
How long does the transfer process take?Each application is unique and may vary. On average, the process is completed in two weeks. Using your existing IRA information, we will help you complete the paperwork.
Will I have a tax implication?No. There are no tax implications for transferring assets from one qualified retirement plan into another.
Is this expensive to set up?On Average, the establishment fees are $250. These fees are solely based on the amount being transferred.
Is there a minimum amount I must transfer?The initial transfer must be $5,000 or greater.
What types of metals are allowed in retirement accounts?U.S. Gold, Silver, and Platinum American Eagles coins, as well as certain other bullion coins or bars that meet IRS requirements. Please call us for more detail.
