How a Gold IRA Works

1. Establish a Self-Directed IRA

The first step to investing tax-deferred dollars in physical precious metals is to set up a valid self-directed IRA. At SBC, you work directly with a personal IRA liaison who will simplify the application process and ensure you submit all required information. This initial setup process is vital to avoid any delays or tax penalties. We’ll help you remain within the good graces of the Internal Revenue Service (IRS) by following all necessary regulations.

Once the paperwork is completed, SBC will send it directly to the chosen trust company on your behalf.

2. Deposit Funds Into Your New IRA

Once the self-directed IRA is set up, you need to deposit funds. This is accomplished through IRA contributions, direct transfers, or rollovers from current retirement plans. Eligible plans for transfer or rollover include a Traditional IRA, Roth IRA, 401(k), 403(b), 457 account, or Thrift Savings Plan (TSP).

If you’re putting cash directly into your self-directed IRA, a minimum deposit of $5,000 must be met. Alternatively, the minimum rollover or transfer amount is $10,000.

Regardless of which method you choose, the team at SBC will guide you through the process to ensure a timely, secure, and hassle-free transfer.

For more information on precious metals IRA costs and fees, please read: How Much Money Do You Need to Start a Gold IRA?

3. Select Your Precious Metals for Investing

The most exciting step in the process is choosing the bullion coins and/or bars you want to invest in through your gold IRA.

The IRS places strict requirements on eligible precious metals for IRAs based on weight, purity, metal type, and more. SBC’s experienced precious metals advisors can provide the best selections based on your specific investment goals, time horizon, budget limitations, and personal preference.

After you purchase your physical precious metals, those assets are sent directly to a depository of your choosing. Your dedicated precious metals advisor will oversee the entire process to ensure everything is delivered securely and on time.