WHAT IS A GOLD IRA?

Learn more about Gold IRAs

WHAT IS A GOLD IRA?

A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars. Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account. Gold self-directed IRAs can include other types of retirement accounts such as, Roth IRAs, SEP IRA, SIMPLE IRA, HSA, Thrift Savings Plan (TSP), and 401(k)s.

The four precious metals allowed to be held in an individual retirement account are goldsilverplatinum and palladium, provided they are in the form of an IRA approved coin or bar products.

HOW IT WORKS

1.

Remington Gold Precious Metals Specialist will explain to you how a gold, silver, platinum and palladium IRA works so you can decide if this option is best for you.

2.

If you decide a precious metals IRA is right for you, we will send you the necessary forms from your new IRA administrators/custodian account.

3.

After you have signed and completed the required forms, our Remington Gold Specialist will create an account for you. Our IRA specialists will also discuss which coins and bars are IRA qualified, so you can make an intelligent decision regarding your account.

4.

Your new custodian/administrator account receives funding via transfer or rollover from your existing IRA’s, 401K, 403B, 457B, TSP, or Qualified Annuities. Your designated Remington Gold specialist will then arrange for the precious metals to be moved directly to a certified IRA depository  (Delaware Depository, First State Depository, Texas Precious Metal Depository). We can also arrange to have your precious metals be moved to the depository of your choice as long as they are IRA certified.  Our specialists will walk you through that process.

5.

When you decide to liquidate a Self- Directed IRA, you have either a choice where the metals can be shipped directly to your home, or you can sell it at the current dollar value and receive a check for that amount. When you’re of age to take mandatory distributions, taking possession of your metals in a physical format qualifies as a mandatory distribution. 

Note: Qualified retirement rollovers can be rolled over without incurring taxes or penalties.