IRA FAQ's - Retirment Plan FAQ's - 401k FAQ's | Goldco Direct


Who is eligible for a Traditional Precious Metals IRA?

Anyone who is under age 70½ and has earned income is eligible for a Traditional Precious Metals IRA.

Why do I need a custodian to hold the precious metals in my IRA?

This is the case with any IRA. The IRS requires that a custodian holds and tracks the assets in an IRA – a Precious Metals IRA is no different.

Who is the custodian of my Precious Metals IRA?

Sterling Trust Company will be your new Precious Metals IRA custodian. They are the premier custodian for Precious Metals IRAs in the U.S.

How long does it take to roll over an existing IRA to a Precious Metals IRA?

Typically two weeks. But, each application is unique and the exact amount of time it takes to roll over varies. Your experienced Goldco Direct Account Executive will help you gather and complete all of the necessary documents for your rollover, and can also provide you with an estimate for how long your specific rollover will take.

What are the penalties associated with a Precious Metals IRA?

There are no penalties if you purchase your metals and leave them in your depository until the age of 59.5. If you liquidate your IRA or 401(k) before reaching that age and don’t roll it over within 60 days, you will have to pay taxes and penalties which vary depending upon the circumstances of the liquidation. You can avoid these charges only if you deposit all withdrawn funds into a new IRA before the 60-day mark.

What can I keep in my precious metals ira?

You can keep only IRS-approved metals in your Precious Metals IRA, however we always recommend professionally selected proof coins because of their numismatic significance, which drives the price up above the value of the metal in the coins.

Can I take physical possession of the metals?

No, because the IRS does not allow private citizens to hold the gold or silver in their Precious Metals IRAs. Instead, the metals are held in a depository in your name. Note that there is no comingling of metals at all. At the age of 59.5, you will be able to take physical possession of your metals without any penalties.

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