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Gold Eagle IRA Transfer

A Traditional Individual Retirement Account (IRA) is one of the most common types of retirement savings accounts. Moving funds from your current custodian into a Gold Eagle IRA is all about your personal tax strategy.

Any transfer or rollover to your Gold Eagle IRA is a non-taxable event. It’s simply a shift from one custodian to another custodian. Only when the funds are withdrawn from an account as a distribution will there be a potential tax liability.

When you decide to take a distribution from your IRA, you have several options. Many gold owners choose an “in-kind” distribution of their precious metals and receive delivery right to their home.

Where are my precious metals stored?

According to the IRS, precious metals invested in your IRA must be held in the possession of a bank, or an IRS approved non-bank trustee.

The Delaware Depository

The Delaware Depository is a trust company that fully meets the IRS’s requirements for IRA custody and safekeeping of precious metals. All bullion is fully allocated to the account holder and, most importantly, held off-balance sheet. Bullion held with Delaware Depository has no risk of being considered a distribution or collectible by the IRS.

Wilmington, Delaware is miles away from New York and Washington DC, and has not been impacted by terrorist attacks, weather-related disasters, or geopolitical events that threaten to disrupt a bullion depository’s security and ongoing operations.

As a state chartered trust company, Delaware Depository offers benefits of security that exceed most depositories.

  • Regulated by the banking commissioner and required to follow strict banking standards and best practices
  • No cash deposits, no loans, checking/savings or other typical high risk banking operations
  • Insured through Lloyd’s of London and not reliant on the U.S. government

At the Delaware Depository, you benefit from the security and controls of a bank without the risk of relying on a bank.

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Your Local Bank

According to IRS rules, an “indirect acquisition”, such as having an IRA-owned Limited Liability Company (LLC) buy the bullion, is permissible.

First, an LLC is created which lists your IRA as the Sole Member, and you as the manager. We will help you set up your LLC. There are no tax returns to file, nor any meetings, minutes or resolutions required.

Once your account is up and running, your custodian sends the funds from your IRA to your LLC, which then stores the bullion at the bank of your choosing. The benefits include:

  • More control over your IRA
  • Exclusive access to your precious metals
  • Reduced custodial fees

Whether you store your precious metals at the Delaware Depository, or through your LLC, you enjoy 100% ownership of physical gold and silver. If a financial representative says he’s buying gold for you, but you’re not paying for its physical storage, you likely only own a paper gold product.

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