PRECIOUS METALS IRA

With the financial uncertainty in the world today, it has never been more important to protect your hard-earned retirement funds by diversifying your retirement portfolio with precious metals. 

WHAT IS A PRECIOUS METALS IRA?

A Precious Metals IRA is an Individual Retirement Account that can include physical gold, silver, platinum or palladium metals.

 

An IRS authorized custodian holds the contents of the IRA for the benefit of the account owner. A Precious Metals IRA works in the same way as a traditional IRA. However, instead of holding paper assets, you can buy and own physical bullion coins or bars.

 

Most traditional IRA owners have little to no say in your investments if you choose a conventional IRA or 401(k) with a bank, employer, or brokerage firm. However, if you open a self-directed IRA with First Class Wealth Preservation you can make your own investment decisions and choose for yourself which IRA approved precious metals to purchase. 

Included in this group for Canadians are Registered Retirement Savings Plans (RRSP).  An RRSP is a personal savings plan that lets you save for your retirement on a tax-sheltered basis, so your money grows faster!

 

Learn more about RRSPs from the Royal Bank of Canada.

HOW TO FUND

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 direct rollover option.

 

Trustee-to-Trustee
The trustee-to-trustee process moves your retirement monies (either partial or full) from
your current IRA provider directly into the hands of your new Precious Metals IRA provider.

IRA Account Rollover
Your current IRA account provider mails a check to your home address. You will then send 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 with 60-days, there are no taxes or penalties incurred.


We know that the rollover process can seem complicated, so we urge our clients to let us do
the heavy lifting! With your consent, First Class Wealth Management will assess which method works best for your portfolio and will handle the entire process on your behalf, filling out the paperwork
or making any necessary phone calls. Our team has processed many of these types of transactions, and you can rest assured that our IRA Department will assist you step-by- step through the entire process.

Get your FREE Precious Metals IRA Guide

2021-02-04_13-42-45.jpg

Thanks for submitting. You will receive an email with your FREE Guide.

TRANSFER IN THREE EASY STEPS

​Open Your Self-Directed IRA Account

The first step is establishing your new Precious Metals IRA account. Call us at 1-866-217-3223 to get this process started for you today.

First Class Wealth Preservation has partnered with New Direction Trust Company for easy opening of your self-directed IRA trust account.

77917f5f6b4302c67a0ba9ec1be3a94e.png

Your dedicated First Class Wealth Preservation's account partner will walk you through the simple online application. It's only a few pages long and takes about 10 minutes to complete.

 

Transfer Funds to Your Self-Directed IRA Account

First Class Wealth Preservation will then reach out to your current IRA custodian to arrange for the tax-free rollover of your retirement monies. Transferring the funds may take up to 5 business days, depending on your current IRA custodian. The funds are transferred usually via bank wire, and once they have been deposited into your Precious Metals IRA account, you are ready to invest!

 

Select Metals/Ship Metals

Now that the paperwork is done, a consultation with your account manager will help you determine what metals you'd like to hold in your self-directed IRA. Once you have decided which metals you would like to own in your new IRA, First Class Wealth Preservation will ship (insured) all metals directly to the precious metals depository. 

PRECIOUS METALS IRA DEPOSITORY STORAGE 

Precious metals IRA depository storage provides clients with the ultimate security. The safety and security of your precious metals IRA is extremely important. As such, clients have the option to work with multiple private, non - government, non-bank storage facilities with a number of depository locations throughout the United States.

 

Every First Class Wealth Preservation client can have their IRA metals stored with Brinks Global Services U.S.A. Brinks depositories are IRS approved and carry "all risk" insurance policies from Lloyds of London. They have locations in jurisdictions with no sales tax on the purchase, administration, or storage of precious metals.

 

*You are not permitted to hold the Precious Metals yourself while owned in the IRA.

Union-Trust-Bank-Vault-Cropped.jpg
99otv65yix7n5xyq6n67.jpg

WHEN IT’S TIME TO TAKE A DISTRIBUTION 

Investments inside IRAs are taxed as ordinary income upon distribution. The same investments held outside of Qualified Plans are taxed as capital gains, which can be significantly less than the income tax for most investors.

 

When your IRA is invested in the stock market, and it comes time to take a required distribution (RMD), your distribution is given to you in dollars. Given the fact that the buying power of the US dollar continues to diminish with every passing year, what are those dollars going to be worth in 10 years?

 

This is where an IRA backed with precious metals starts to shine.

 

Precious metals are the only assets you can own in an IRA that do not require liquidation or sale before taking distributions.

 

Unlike every other investment in your IRA (which need to be liquidated before distribution), metals give you a choice: they can be liquidated inside the IRA, or they can be taken out of the plan in their physical form (and delivered directly to you) as "in-kind" distributions.

 

Taking physical possession of your metals can be a great opportunity. Taking delivery of your assets allows you to maintain the gold or silver, even after taking your distribution. This allows for the investment to continue to grow and protect your wealth until you decide to liquidate your assets. Your metals are now held outside of your IRA and will have a different tax implication than inside the plan, should you decide to liquidate.

 

Should you decide never to liquidate your metals, and pass them on to your beneficiaries, they would be inherited on a "stepped-up" basis. This allows for all the gains on the metals, once outside the plan to be realized when inherited.