Can I Take Delivery Of The Gold Inside My IRA?
Investors who store their hard-earned wealth in IRA accounts are allowed to access those funds, and this permission carries over to the gold IRA market. However, just as with any other IRA withdrawl that occurrs before the investor reaches the age of 59 and a half, taking delivery of the precious metals stored within one’s IRA comes with a penalty. The exact percentage that you will be charged varies depending on the assets you wish to liquidate and the type of IRA you possess, and it is highly advisable to contact a tax adviser before moving your nest egg in a new direction.
Gold IRAs are physically based in Wilmington Trust depository and segregated for each investor. Equity Institutional and Self-Directed IRA Services (SDIRA) are authorized to serve as custodians for gold IRAs, and these two entities can facilitate your taking delivery of your IRA gold. However, both Wilmington Trust and the trust company of your choice will tack on a delivery charge if you do wish to put your gold in your own hands.
Many investors have searched high and low for answers on taking delivery of the gold within their IRAs, and government agencies like the IRS certainly don’t make it easy to get the facts when you need them. When you contact the Certified Gold Exchange about your gold-backed IRA, mention that you are considering taking delivery of the gold within your IRA and your account specialist will be able to accurately answer questions about your particular account.
While taking delivery of IRA gold may sound like a good idea initially, investors under the age of 59 1/2 may be better off purchasing gold outside their retirement account. If you are concerned about nationalization of retirement accounts and you don’t want your gold to become everyone’s gold, there are ways to protect your retirement wealth without taking delivery of your IRA gold and suffering the financial penalty. Contact the Certified Gold Exchange today at (800) 300-0715 or sign up below for more helpful information on gold investments, both for IRA plans and physical delivery.