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Discover how American investors are safeguarding and securing their retirement savings with physical Precious metals
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Most of the things we need and want in life cost more today than they did when the Dollar was backed by Gold
Food
Rent
the Median price of a house
new Cars and Trucks
Every day, Americans are suffering the effects of unrestrained money printing and it is only getting worse
So what’s the solution?
How can Americans protect and secure their retirement savings from this ongoing loss of purchasing power?
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Physical Gold IRA
The Taxpayer Relief Act of 1997 allows investors to hold physical Gold, Silver, and other Precious metals inside individual tax preferred retirement accounts (IRAs).
Self-directed IRAs provide tax-preferred ownership for real estate and Precious metals, while traditional IRAs are limited to Stocks, Bonds, and mutual funds.
In a self-directed IRA a third-party Custodian holds physical Gold in the investor's name. This is the same as a traditional retirement account where securities are held by the broker-dealer in the investor's name.
IRA-approved Precious metals include Gold, Silver, Platinum, and Palladium. Two general categories of metal are IRS-accepted:
• Coins minted by national Governments
• 99.95% or higher Bullion bars and Coins
Collectible Coins and Numismatics are not allowed.
Home storage Gold IRA
The Precious metals held in a self-directed IRA must be held by a third-party Custodian in order to satisfy the IRS.
In a home storage Gold Coin IRA (also referred to as a Checkbook IRA) the investor forms an LLC or other legal entity to act as the Custodian and hold the Precious metals.
While this structure complies with IRS requirements, it entails significant risk.
The IRS has numerous requirements that a Custodian must meet and the IRA could be deemed invalid if any of these requirements aren’t satisfied.
And remember that failures to comply with the Checkbook IRA regulations would most likely come out in an audit when it would be too late to fix the issue.
If the IRS declares that the home storage Gold IRA is invalid they could assess penalties, back taxes, and interest for all of the years when the IRA was out of compliance.
Gold IRA tax rules
Here are the key Gold IRA tax rules to keep in mind:
• When funds are transferred from an existing IRA to a Precious metals IRA, the transaction must be completed within 60 days
• Only IRS-approved metals can be held in the IRA - Silver, Gold, Platinum, and Palladium
• Distributions from the IRA can be taken in cash or physical metal
• Precious metals held inside an IRA are NOT subject to the automatic 28% tax rate for collectibles
• Capital gains are NOT taxed as gains on collectible items
• Distributions from the Gold IRA are treated as ordinary income at the Investor's tax rate
