IRA FAQs
Understanding Precious Metals IRAs
Key Questions Answered
What is a Precious Metals IRA?
Answer
A Precious Metals IRA is a self-directed Individual Retirement Account that allows investors to hold physical precious metals like gold, silver, platinum, and palladium as a part of their retirement portfolio. It functions similarly to a regular IRA, but instead of holding paper assets, you can directly own physical bullion coins or bars.
What types of metals are eligible for inclusion in my Precious Metals IRA?
Answer
Generally, only specific bullion and coin products are eligible for inclusion, based on purity standards set by the IRS. For instance, gold must be at least 0.995 pure, silver at 0.999 pure, etc. Here at Accurate Precious Metals, we will have a list of eligible products they support or recommend.
What are the rules for precious metals IRAs?
Answer
Investing in a Gold IRA comes with various rules and regulations that should be considered before making any decisions. Eligible metals include gold, silver, platinum, and palladium which all need to meet specific purity standards set by the IRS. A qualified custodian & depository is needed for transferring and holding physical metals as well as ensuring compliance of IRAs with applicable laws. Contributions have limits per annum while rollovers from existing retirement accounts there are no limits. Lastly, there are certain distribution rules governing when & how much money may be taken out depending upon individual circumstances – so do look into them carefully beforehand!
How much can you put in a precious metals IRA?
Answer
Seeking a reliable custodian & depository to securely transfer and store physical metals in accordance with IRA regulations? Contributions are limited on an annual basis while rollovers from existing retirement accounts can be conducted without restrictions as long as paperwork and the IRA retirement account are transferred properly. Accurate Precious Metals makes this process simple and stress free.
How long does it take to transfer my IRA into a precious metals IRA?
Answer
Accurate Precious Metals makes it easy and simple to transfer your IRA into a Gold & Silver IRA. If you are actively engaging with our sales team, the process can be completed within a week – even as quickly as a couple of days! The only variable is waiting on the client’s current IRA retirement account holders. Those accounts we have no control over but we will assist you with the paperwork and details that are needed from your accounts. We want to make this transition enjoyable for all of our clients – taking away any stress or worry that may come along with such a move.
Are there penalties for starting a precious metals IRA?
Answer
Accurate Precious Metals Coins, Jewelry & Diamonds is your go-to source for converting current assets into a Gold and Silver IRA. Through AccuratePMR, you can safely add gold or silver to your retirement account without any tax consequences – allowing you the opportunity to diversify investments in this powerful form of wealth protection.