What is a Gold IRA?
Gold bars and coins can be purchased through a Self-Directed IRA account. The criteria, however, as to the purity and the origin of the gold coins and gold bullion allowed for purchase through a Self-Directed Gold IRA is very detailed and specific, as are the reporting, filing, and storage requirements related to a Gold IRA investment.
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Silver IRA and Other Allowable Precious Metal IRA Investments
Gold is not the only precious metal allowable for Precious Metal IRA investing. Silver and Platinum coins and bullion are also allowable investments, but as with Gold IRA investing, there are strict rules as to the purity and origin of these other Precious Metal IRA investments. A Silver IRA investment will require the same stringent reporting and filing requirements, as a Gold IRA. The same is true for platinum or palladium bullion, which are included on the allowable precious metals list for Self-directed IRAs.
An IRS Qualified Custodian for Your Gold IRA, Silver IRA or Other Precious Metal IRAs
The IRS has mandated that the assets of a Self-Directed IRA investing account be held and administered by an IRS qualified Custodian. Because of the individualized options and highly complex regulations related to Self-Directed Precious Metal IRA investing, there are a limited number of firms that offer this specialized service; Provident is one of those firms. As the account administrator, the Custodian files the required IRS reports, issues client statements and assists the owner of the account in understanding the rules and regulations pertaining to Self-Directed IRA investing.
Depository Services for Gold IRA, Silver IRA and Other Precious Metal IRA Holdings
Individuals investing in precious metals through a Self-directed IRA are not allowed to store the metals themselves. The metals must be stored at a depository licensed by the Commodity Futures Trading Commission. Precious metals purchased for IRA’s with Provident are deposited with the Delaware Depository Services Corporation (“DDSC”) in Wilmington, DE. DDSC. All precious metal assets held at DDSC are maintained in customer-specific custody accounts, on a fully insured basis.
“You get the best of both worlds in a Self-Directed IRA with Provident; Complete control, without the headaches of trying to understand and follow the complex transaction rules of the IRS all on your own.”
Why Choose Provident As Your Self-Directed Gold IRA Custodian?
Provident is owned and operated by a team of highly qualified professionals and is not affiliated with any bank or financial institution. Personalized, timely service is something our clients have found they can rely on with Provident, a critical element for Self-Directed IRA investors.
Complex Transactions Simplified
Understanding what the investing rules are and how they apply to your individual situation is critical in the area of Gold IRA or Silver IRA investing and a primary reason why many would-be investors have shied away from these opportunities in the past. Our goal at Provident is to make Self-Directed Precious Metal IRA investing more accessible to the average investor.
Provident has grown to over 20,000 clients with over $3 billion in assets currently in custody. Both internationally and across the U.S., clients and their teams of financial advisors have placed their confidence in us.
All it takes is a phone call to begin your relationship with the professionals at Provident, though we would be happy to meet you in person at our Las Vegas office as well.
Give us a call at (888) 855-9856. We would be happy to answer your questions related to Self-Directed IRA rules and Gold IRA, Silver IRA or any other Precious Metal investing opportunities.