precious metal ira
The IRS allows an IRA, Individual 401(k), HSA, or ESA to acquire certain precious metals as an asset without penalty and while keeping the tax benefits associated with that account type.
Acquiring assets, such as silver, platinum, palladium or gold, in an IRA is one way to diversify your retirement portfolio. Many people have experience investing their personal funds in precious metals. They are now looking to capitalize on that experience and generate retirement wealth that is tax-deferred or tax-free.
An IRA holder must choose a dealer/broker and a depository in order to acquire physical precious metals in his or her IRA. There are dealers and depositories all over the U.S. and the world, and each has its own business practices, pricing structures and paperwork. The depository is a secure facility where the metals are held in the name of the IRA.
The IRS requires an authorized IRA provider for all IRAs. Not all IRA providers handle precious metals, but CPME can give you several options when selecting a custodian. You, the IRA holder, select a custodian from which to hold you IRA, and direct them to send money from your IRA to close the deal. We make sure that the paperwork substantiates that the asset is part of your IRA and, thus, deserves the tax benefits associated with the account type.
What Are The Benefits Gold In An IRA?
• Precious metals are tangible assets.
• Precious metals are an asset type that you have experience with and understand.
• You can submit paperwork for a metals purchase, sale, or exchange online by logging into your online account.
• Allows true diversification of your retirement account
• You have strategic control over the types of metals your IRA owns.
• You can exchange one type of metal for another quickly in response to market conditions.
• You can apply your knowledge and expertise pertaining to the precious metals market.
• You can buy, sell and exchange metals without tax consequence.