One of the most common questions we hear from clients regarding their precious metals IRA is, “What happens to my precious metals once I purchase them?” The purpose of this email is to answer that question, as well as a few others you may have, and provide you with peace of mind regarding the security of your precious metals IRA.
Precious metals held in your self-directed IRA must be stored in an IRS-approved depository for safekeeping.
For precious metals to be considered part of your self-directed IRA, they must be kept somewhere other than your home. Private possession of your IRA’s precious metals contents (keeping them at home) is prohibited by the Internal Revenue Service (IRS), as this would be considered taking a distribution.
Specifically, the Internal Revenue Code states that gold, silver, platinum, and palladium purchased for an IRA must be stored with a recognized financial institution or by an IRS-approved depository.
These secure vaults must meet an exhaustive list of strict IRS requirements before they can legally store precious metals for IRAs. Their sizes, management capabilities, and recordkeeping practices are all closely monitored by the federal government, ensuring that your precious metals are stored as safely as possible.
U.S. Money Reserve’s preferred depository is A-M Global Logistics (AMGL), an expert in high-security storage and handling precious metals. AMGL has been in business for more than half a century and is a trusted partner when it comes to ensuring that our customers’ precious metals are as secure as possible and ready to be distributed when the time is right.
But make no mistake—even though your precious metals are stored in a depository, you’re the one in charge.
In time, you will have the option to physically hold your precious metals in your hands.
Just like how you manage funds in a conventional IRA, you cannot take physical possession of the precious metals in your self-directed IRA without penalty until you are eligible for distributions. At that time, distributions may be taken from a self-directed precious metals IRA either in cash or as an “in-kind” distribution of your physical precious metals.
When taking an in-kind distribution of precious metals, your chosen depository will safely and securely send your precious metals right to your door. This strategy can be especially helpful if you are mandated to take a required minimum distribution (RMD) but do not wish to sell your precious metals until a later time. Once received, your precious metals are yours to do with as you please. You can continue to store them as a precious legacy for future generations or liquidate them at a later date and enjoy the benefits of your patience.
No matter which path you choose, U.S. Money Reserve will be there for you every step of the way.
U.S. Money Reserve is happy to guide you along your precious metals IRA journey.
Through our precious metals IRA program, U.S. Money Reserve is with you every step of the way. Our experienced Account Executives can walk you through the process of opening a self-directed precious metals IRA, help you select and build a portfolio that fits your unique needs, and arrange for insured and discreet delivery of your precious metals to your chosen IRS-approved depository for safekeeping.
Call your U.S. Money Reserve IRA Account Executive now at 1-833-522-0409 and discover just how easy it is to experience the many benefits of a precious metals IRA.
Questions? We’re here to help.
Our dedicated team is committed to helping you with any questions you may have about diversifying your portfolio with physical precious metals.