The first step is establishing your new Precious Metals IRA account with Redwood Gold Group.
- Our IRA Manager will walk you through a simple IRA application. SDIRA services will work with your custodian to assist you in the transfer or rollover process. Redwood Gold Group’s experienced IRA department does all the heavy lifting for you.
- Once your funds are safely at SDIRA services, tax differed and penalty free, your Gold Specialist will go over with you the recommendations regarding the best choice of IRA approved metals, to achieve and accomplish the goals for your retirement.
- Your metals are then shipped to a fully insured storage facility for safe keeping at, Delaware Depository.
When you open a Precious Metals IRA with Redwood Gold Group, you will be a proud owner of the actual physical metals you purchased. All of your assets are securely stored at a state-of-the-art, IRS-approved, insured private storage facility. Once you are age-eligible to take a voluntary or mandatory distribution, you can choose to either take physical possession of your metals or liquidate your metals and request a cash distribution.
Redwood Gold Group ships all metals directly to the Delaware Depository Service Company. This is an IRS-approved depository vault located in Wilmington, DE. The Delaware Depository Service Company has safeguarded valuables since 1859 and is entrusted to handle billions of dollars-worth of valuables every day. Delaware Depository Service Company backs it storage services with an impressive, comprehensive insurance policy, underwritten by Lloyd’s of London, one of the world’s oldest insurance providers. The Delaware Depository Service Company’s state-of-the-art facility is the ideal solution for safe, secure and private storage of your precious metals.
Each and every client’s account at the Delaware Depository Service’s Company is 100% insured for the full face value of the metals stored. In addition, every package shipped from the Delaware Service’s Depository also carries full insurance coverage. Delaware Depository Service Company provides an impressive, comprehensive insurance policy, underwritten by Lloyds of London, one of the world’s oldest insurance providers. Delaware Service Depository insurance policy protects your assets against physical loss or damage arising from any cause, even Acts of God (fire, flood, etc.).
There are two safe, tax-free and penalty-free methods used to transfer money between retirement accounts: the direct trustee-to-trustee transfer and the 60-day rollover option. The trustee-to-trustee process moves your retirement monies from your current IRA provider directly into the hands of your new Precious Metals IRA provider. If the 60-day rollover method is used, your current IRA account provider mails a check to your home address; you will then simply mail that check directly to your new Precious Metals IRA provider. As long as this check is provided to the new IRA custodian and deposited into your new IRA account within 60-days, there are no taxes or penalties incurred. We know this rollover process can seem complicated and we urge our clients to let us do the heavy lifting! With your consent, your IRA Gold Specialist will assess which method would work best for your portfolio. We will handle the entire process on your behalf, filling out the paperwork or making any necessary phone calls. Redwood’s IRA Department has successfully processed hundreds of these types of transactions and you can rest assured your IRA team member will assist you step-by-step through the entire process.
No, there are no taxes or penalties.
Opening or rolling over into Precious Metals IRA is a very easy process, thanks to the assistance provided by your IRA team member. We will assist you with filling out a simple IRA application to open your Precious Metals IRA account.
You may only rollover IRAs or other qualified retirement accounts into a Precious Metals IRA. Qualified retirement accounts include: Roth, SEP or a SIMPLE IRA, 401k, 403b, 457b, Pension plans, or Thrift Savings accounts. If you would like to know which account(s) you have that can be rolled over into a Precious Metals IRA account, our IRA Gold Specialist is happy to help you. You can go over your options with our IRA Gold Specialist over the phone prior to making any decisions or starting the process.
It takes about 1 business day to open your new Precious Metals IRA and to receive your new IRA account number. The time is takes to transfer funds from one retirement account to another varies, depending on your current IRA custodian. On average, funds can be transferred within 5 business days.
There is only one annual payment of for a Precious Metals IRA. This includes the payment for storage, the cost of insurance to protect your metals, quarterly financial statements, and 24/7 access to view your account online. One of the beauties of the self-directed Precious Metals IRA is a simple, transparent fee schedule that allows you to be in complete control of your assets against harmful hidden costs.
The IRA custodian, Self-Directed IRA Services, Inc., offers 24/7 online access to your portfolio’s performance as well as quarterly statements that can be mailed directly to your home address. The secure website is easy to navigate and makes it simple to track the performance of your precious metals.
It’s simple! First, you let your Redwood Gold Group IRA team member know whether or not you want the physical metals shipped straight to your front door, or if you’d like to receive cash instead. We can arrange for the metals to be securely shipped from the Brink’s depository, or we can help you liquidate your metals in exchange for cash. Once liquidated, the RMD distribution can be wired into your desired bank account or mailed to you via check. The choice is yours. It takes only 3 business day to process your distribution and the funds will be sent out immediately!
Yes! If you are still making annual contributions to your retirement account, we can arrange to have those contributions automatically transferred into your Precious Metals IRA account on a recurring schedule. The contributions can sit in your account in a cash position earning a low rate of interest, or you can invest in more precious metals.
In order to invest your IRA in physical precious metals, you have to open a special type of IRA called a “Self-Directed IRA” and you should work with a company who contracts with an IRS-approved storage facility with experience in managing physical assets. We will help you to open one of these versatile Self-Directed IRAs so that you may invest in physical precious metals. To have your Precious Metals in your control, it required you to set up a “Home Storage IRA”. This is more involved in the setting up process and requires a Gold Specialist to assist you in this process. If having control of your Precious Metals is important to you call 844.9GOLD4U and ask about the “Home Storage IRA.