Gold IRA Rollover

Gold and Silver IRA Rollovers Simplified

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What is a Gold and Silver IRA Rollover ?

A Gold and Silver IRA rollover is the process of switching your cash or bonds from your current IRA to a self directed IRA which allows you to buy gold and other precious metals. It is not a difficult endeavor, your IRA custodian will handle all details for you. The only thing you need to do is choose the best custodian and decide where you are going to buy your assets from.

Difference Between IRA Rollover and IRA Transfer?

  • IRA Rollover

    In the rollover process, you are paid the amount you wish to move into the precious metal IRA and then you give it to your custodian to buy in your name.

  • IRA Transfers

    In a transfer, the money gets transferred directly between the two custodians, so you never physically get it.

You need to be aware that in case of a rollover, you only have 60 days from the moment you get the money until the date you need to deposit it into your gold IRA. If you fail to do so within this time frame, your money will be considered a taxable withdrawal.

How Much Tax Do You Have To Pay For IRA Withdrawal?

If you are younger than 59 and a half years, you’ll be taxed 10% for early withdrawal from your IRA. You should also know that only one rollover within 12 months from the same IRA is permitted by law. If you aren’t sure whether you want a rollover or a transfer, you should seek your accountant’s advice in this matter.

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He is the most qualified person that can explain you the difference between the two types of transactions and the way each of them affects you finances. Only after all these details are clear, you may proceed to the next step of the process and choose your precious metals IRA custodian and broker.

401K to Gold IRA Rollover

A direct 401k to a gold IRA rollover isn’t possible. The way to do it is to open a self-directed IRA and redirect part of your 401k funds towards buying precious metals for your new IRA.

This is perfectly legal, even if you already have an IRA. An individual can have multiple IRAs and the reason you need a self-directed one is simple: it allows you to choose what your money will be invested it.

For new precious metals investors who are looking to work with the best Gold IRA Custodians, there are two ways to go about it: Directly or Indirectly.

  • Directly

    This is where the investor engages in a proactive search for an IRS approved custodian. They will then be responsible to get in touch with them to start the process of rolling over an IRA. The investor will have to make sure that the custodian is licensed and allows precious metals investments.

  • Indirectly

    This is the way most investors go about procuring a Physical Gold IRA. There are many firms that would be happy to work directly with the custodian for you. From the point you contact the company, an expert executive will guide you step by step throughout the whole process.

How to open a precious metals IRA ?

You may assume that because of the many advantages afforded to gold and silver investors that opening an IRA must be a costly or timely affair, but alas, it is quite the opposite. Opening an IRA for precious metals or rolling over an existing one can be done in just a few simple steps that can take as little as a couple of weeks. Most of the procedures can even be done online. In fact, you can start the process today.
Take Regal Assets for example, you can not only purchase the IRA Approved precious metals from Regal, but they will also get your case in front of the best custodians who specifically deal with precious metals investments. Regal Assets has a powerful list of only top-tier custodians they have been closely working with since their inception. In fact, firms like Regal Assets will take care of all 3 steps of getting a Gold Backed IRA, including all the leg work involved. All you would be required to do is sign the appropriate paperwork.

Do all types of precious metals qualify for an IRA ?

The coins plus any bars bought for the Individual Retirement Account have to meet certain standards before they can qualify for the tax deferred status of an IRA.For reference visit our detailed article about gold IRA rules and regulations.

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Is it a Risky Venture ?

Changing to a self-directed IRA “Rollover“can be penalized. It is important to talk to the company handling the exchange about what to do and what are the options to avoid losing money in the initial transaction.

Gold IRA Investing Has Never Been Easier
Follow these 3 simple steps and you too will easily own physical precious metals in your Individual Retirement Account:

  • Create/Open a Self-Directed IRA

    Learn here about our Top Recommended Company

  • Funding

    Fund your Self-Directed Gold IRA with IRS Approved Metals purchased from a Reputable Precious Metals Dealer

  • Verify your Storage

    Store your gold and/or other precious metals in a Secure IRS Approved Precious Metals Depository.

Is a Gold IRA a Safe Investment ?

Most of the experts agree that gold and silver, along with other precious metals are an integral part of any well-rounded investment portfolio.

As a matter of fact, the world’s richest people own substantial positions of gold and other precious metals.

To them, gold isn’t just safe, it’s an absolute necessity.