Monday, March 08, 2010

Gold/Silver IRA Custodian

Yearly account fee is just $100.

What type of gold can be held in my IRA?

The United States government currently allows Gold American Eagles and Gold proof American Eagles in gold IRA’s.

Gold American Eagles are mass produced bullion coins. The value of these gold bullion coins is tied to the gold price. The price of gold fluctuates moving up and down like a heart monitor. This fluctuation in the price is directly tied to investors that buy and sell and buy and sell in an attempt to take advantage of the price volatility. Under the Executive Order of 1933 issued by FDR, gold bullion coins are subject to confiscation by the U.S. government during times of national crisis. Gold American Eagles are instantly liquid.

The U.S. Mint, specifically having retirement accounts in mind, designed gold proof American Eagles. Proof Gold has a limited supply. Each year only a certain number of gold proof coins are produced for IRAs resulting in a scarcity which may cause them to outperform the generic American Eagles 1 ½ to 2 times. The Gold proofs are exempt from confiscation under the Executive Order of 1933. Each proof American eagle is delivered to your government required third party storage facility with its own official U.S. Mint Certificate of Authenticity. These gold coins have “United States Government Backing” which, like the dollar, means they are recognized and accepted in major investment markets around the world. This gold is also instantly liquid.

How to put gold in an IRA

Taking possession of your IRA gold is qualified as a distribution. Under that circumstance, the IRS requires that a possible penalty and the appropriate taxes be paid. To avoid the penalty and taxes you want to have your IRA gold stored at a depository through the gold IRA custodian we provide.

Investors that want to take advantage of a gold IRA use an already designated specialized precious metals depository for the storage of gold. The depository offers a secure safekeeping service and provides easy access for the physical delivery of your gold.

How will my gold be physically stored?

When your metal is shipped to your depository, the shipment will be opened to inspect the contents. After inspection, the contents will be deposited as follow:

Your gold is repackaged after verification and stored separately. This ensures you will receive the exact material as was deposited when you decide to sell, exchange, or take an in-kind distribution (take personal possession of the material) of your gold.

Is gold the only asset I can hold in my IRA?

Absolutely not. Your precious metal IRA is self-directed which means you have complete control over how you allocate the funds within your IRA. So when you are ready to sell the gold in your IRA we just push a button and your gold is released back into the market and the cash shows up in a cash account within your IRA itself. You then have the option of selecting stocks, bonds, mutual funds, and money market accounts so you dont have to go through the trouble of transfering your IRA to a new custodian.

Do I get a statement on a regular basis for my gold IRA?

Yes. Statements are sent out regular mail on a quarterly basis. You can also view your account online anytime. Additionally, we sign you up for an automatic email alert so when your IRA gold account moves up 25% you are automatically notified. The percentage can be set at any amount for the investor that wants more frequent updates, instruct one of our account representatives to set the alert at a lower percentage.

What are the fees for establishing a self-directed gold IRA?

The fees are as follows:

One time IRA Set-Up Fee: $15 (waived)

First year annual IRA fee: $60 (waived)

Annual IRA Storage Fee: $100

How long does it take to get my IRA or 401k rolled over into a gold IRA?


The process from start to finish can take anywhere from 5 to 21 days. Our team of retirement account specialists works with your existing custodian to expedite your IRA transfer or 401k rollover.


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2009.03.17

Be a non-bank trust company to provide IRA custodian services for qualified retirement accounts (traditional, SEP, Roth, simple) to allow participants to access more diversified investments. Allow others (beyond the participant) to be trustee or fiduciary.
Provide quarterly account statements, tax reporting of distributions, and state and/or federal withholding for early withdrawal.
Provide escrow and paying agent services for business and investment related transactions (provided custodian company has no discretion with regard to investment of assets).

American Eagle gold, silver, and platinum coins, other coins as allowed under Internal Revenue Code §408(m)(3), and other precious metal products that meet the minimum fineness requirements and are manufactured by a NYMEX or COMEX approved refiner/assayer.

Account Application
Fee Precious Metals IRA
One-Time Establishment Fee $15
First Year Annual Fee $50
Annual Renewal Fee $50

List of IRA custodians

Publication 590 (2009), Individual Retirement Arrangements (IRAs)

Does custodian need IRS approval before accepting accounts?

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Is the physical storage outsourced?
... risk of storing the precious metals is assumed by a Custodial Trust Company.

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