A well-qualified gold IRA company should offer secure storage options for investors’ precious metals. Only very few companies maintain their own storage facilities. As a result, most work with external depositories that are approved by the IRS to securely store precious metals in IRAs. You can’t store gold for your IRA at home or in a safe deposit box. To comply with IRS-IRA guidelines, your physical gold assets must be stored in
an IRS-compliant depot.
Oxford Gold Group offers investors two different options for storing a precious metal IRA. You can choose between the Brinks Depository in Salt Lake City, Utah, or the Delaware Depository in Wilmington, Delaware. Physical gold is considered an alternative investment, which is not allowed in a regular IRA. However, since gold IRAs are a type of self-directed IRA, they can hold alternative investments as long as they
comply with IRS rules.
Investing in a gold IRA is a great way to diversify your retirement portfolio and minimize the volatility of your assets. Gold IRAs follow the same general rules as traditional IRAs when it comes to tax benefits. You can choose between traditional IRA or Roth IRA contribution limits and withdrawals. While there are fewer companies that offer gold IRAs than other types of IRAs, you still have multiple options. You can invest in gold stocks, such as stocks of gold mining companies or gold royalty companies
that help finance mines.
You can also consider a gold IRA rollover, where you transfer funds from your existing IRA to a gold IRA. Make sure you check the list of allowed gold objects with your custodian bank before you transfer gold to your IRA. It therefore makes sense to work with a Gold IRA company that offers a diverse selection of gold, silver, and other precious metal products. However, as all of these Gold IRA providers offer similar services, you can’t go wrong choosing one of them to make your Gold
IRA investment easier.
When you open a Gold IRA account, you must store your investment in a custodian bank, such as a bank. Like a traditional IRA, a gold IRA allows pre-tax contributions, and investment income can then be deferred for tax purposes, and the contribution and income limits are the same. Instead, the IRS requires gold IRA investors to store their gold in an IRS-approved custodian, such as a bank, credit union, or other financial institution