Home Storage Gold IRA Legal Issues

Interesting Facts On Legality of Home Storage Gold IRA

Recently I have received an e-mail about Home Storage gold IRA, it was very long and interesting.

Filled with questions like these:

  • I have a custodian for my checkbook IRA and my LLC. How would I proceed with opening a home storage IRA for gold? What are your fees, and where do I find info that says I can hold the gold myself? My custodian thinks they have to control it in storage and charge me annually for allowing me to do that.
  • I have an annuity and the way the plan is structured now it is invested in different investment accounts The Plan provides the investment accounts. We have no say but to use the IA the plan offers us Is it possible to substitute the investment plans with gold as long as we let it sit until we are legally able to pull it out I’m talking about actual gold – not a gold certificate.
  • How are purchases priced? What are the setup fees and annual fees determined?
  • Is Home Storage Gold IRA legal?

401k rollover to Home Storage IRA

Could the government come to my home and take my metals away from me. I will get through it in just a while.

Is the money invested in gold backed IRA qualified as Federal IRS maximum per year deduction? I feel safer storing my own Gold in our safe at home IRA with our security systems and fire rated safe bolted to concrete floor in downstairs.

What is the process of moving from IRAs to self held GOLD; Does the process cost or is there the typical early withdrawal fees and taxes; how long does it take to make the move and is it coordinated personally?

I’ve been told that a golden IRA must have the gold in an approved storage facility. Can it now be self-stored? Also, what types of gold and silver qualify for the IRA

I notice that your web site states that the owners of an IRA (gold IRA) can assume personal possession of the gold, etc. Would you confirm, please. Typically, I thought that in such cases, the metals were stored in one of the several locations in the US. Thanks..

Can you confirm the various fees, I cannot find it at the website. Setup? Annual? Per transaction? Does your firm create the LLC, or do I? How is it legal to hold bullion coins at home in a Roth IRA? Your company seems to be the only one offering this?

I am trying to set up my checking account so I can transfer funds to Augusta. They are asking for my Augusta Account Number, but I can’t seem to find it.

I owned a rental property, and I have registered as an LLC in Colorado. Can one of my IRAs purchase that LLC as a check writing, self-directed IRA and purchased precious metals through it?

References:

http://www.irs.gov/Retirement-Plans/SIMPLE-IRA-Plan-FAQs-Distributions
http://www.irs.gov/pub/irs-prior/p590–2004.pdf
http://www.irs.gov/Retirement-Plans/Choosing-a-Retirement-Plan-SIMPLE-IRA-Plan
http://www.irs.gov/Retirement-Plans/SIMPLE-IRA-Plan-Fix-It-Guide-SIMPLE-IRA-plan-notification-requirements-were-not-followed
http://www.irs.gov/Retirement-Plans/SEP-Plan-FAQs-Participation-Requirements
http://www.businessconsumeralliance.org/report/augusta-precious-metals-100127007

 

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