Investors who wish to include precious metals in their portfolios can easily do so, even if they already have existing IRA accounts. This is achieved through a straightforward and convenient process known as an IRA “rollover”. To complete a precious metals IRA rollover, individuals establish an account with a self-directed IRA custodian, who takes care of the transfer of funds and other administrative tasks.
Investors can exercise control over their investments with a self-directed IRA account, unlike a traditional IRA account that may restrict them to conventional investments like stocks, bonds, and mutual funds. By opting for a self-directed IRA, investors gain more options in alternative asset classes like precious metals, futures, and real estate. It is the IRS that determines which types of investments are permissible within a self-directed IRA.
Top 4 Gold IRA Rollover Companies of 2023
#1 Augusta Precious Metals: Best gold IRA company overall and the most trusted
Since 2012, Augusta Precious Metals has operated as a precious metals company, placing a strong emphasis on prioritizing the financial benefits of its clients by offering transparent pricing and keeping costs minimal. Whether you seek a non-IRA investment in gold and silver or are interested in precious metal IRAs, this family-run business represents your greatest opportunity.
Augusta Precious Metals has achieved a distinguished standing according to credible entities. The company has obtained an A+ rating from the Better Business Bureau (BBB) and a AAA rating from the Business Consumer Alliance. Additionally, the IRA Gold Advisor virtual platform has honored Augusta Precious Metals with the title of the “Most-Trusted Gold IRA Company in the United States.”
This company stands out from other gold IRA competitors due to its implementation of numerous distinctive features. Alongside a lifetime service guarantee, this firm offers a wide array of educational resources.
Having access to educational movies on current economic situations created by Harvard-trained economists and information about precious metals facts will provide you with practical knowledge that emphasizes the importance of saving for securing your future.
Augusta’s hotline offers information regarding popular retirement savings accounts in America, as well as straightforward guidelines for establishing an IRA.
Additionally, their commitment to providing exceptional customer service knows no limits, and you can always rely on their live chat feature on the website to address any inquiries you may have. Even after you finalize your purchase, the company will remain fully attentive to your needs.
2. Goldco: Runner up – Best Gold IRA Staff Overall
Goldco is widely recognized as the leading company for individuals looking to purchase gold for their IRA and is consistently listed among the top ten globally. Goldco has successfully positioned itself as a major provider of gold and silver IRAs for the last sixteen years. These investments serve to fund your account, irrespective of any tax advantages.
Goldco makes it easy to set up a gold IRA with their friendly and knowledgeable customer care team. Once you sign a contract, you just need to fund your self-directed IRA to complete your purchase. One way to do this is by rolling over your 401k. Including precious metal assets allows you to add diversity to your retirement account.
Goldco’s exceptional reputation undoubtedly stems from the A+ rating by the Better Business Bureau, which users can access through the virtual platform to read a variety of company-related reviews and comments from real individuals.
Goldco ensures that potential investors’ questions are answered through its outstanding customer service. The online chat option, available all week, connects you with industry experts. Additionally, the website provides a range of informative articles and videos to assist you in making wise financial choices.
Goldco’s website stands out due to its unique feature of allowing users to customize the typefaces and visual components of the platform. It is uncommon for corporations to invest efforts in providing online investors with a pleasant experience while exploring their site.
Informing clients about duct specifics and current economic conditions may be perceived as an inadequate attempt to provide them with relevant information.
3. American Hartford Gold: Best gold buy-back program
American Hartford Gold is favored by certain customers due to its commitment to ensuring long-term stability and financial protection for family members. This renowned company has consistently secured a top position in the market for the last six years. Despite being relatively new, American Hartford Gold has managed to grow its customer base and enhance its level of trustworthiness.
Despite having headquarters in Los Angeles and Woodland Hills, California, the American Hartford Gold company remains dedicated to helping individuals diversify and protect their gold and silver assets, even after successfully delivering over $500 million worth of precious metal items.
In addition to offering precious metal IRAs and 401k rollovers, the company provides the convenience of doorstep delivery for the precious metals. Additionally, the service includes the secure storage of your valuable assets in third-party facilities like the Delaware Depository Service. It is crucial to avoid the possibility of losing or having these physical precious metals stolen, particularly when it comes to physical gold.
By offering the latest information on gold and other precious metals, American Hartford Group has gained the trust of its customers. Moreover, their website offers round-the-clock customer support representatives, ensuring that you can conveniently access important information and resources swiftly.
It is worth considering the stock buy-back program offered by this company, as you are aware of the future outcomes. If you find yourself in a situation requiring immediate cash and need to sell your valuable metal possessions, American Hartford Gold is the most reliable option. They pledge to purchase your physical precious metals at prevailing market rates, ensuring minimal financial risk for you.
4. Birch Gold Group: Extensive precious metals options
Birch Gold Group is an ideal choice for beginners in gold investing, primarily thanks to the abundance of educational resources they provide. Notably, you can also acquire precious metals through this company, further solidifying their position as a leading gold IRA supplier.
With its establishment in 2003, Birch Gold Group, based in California, has surpassed many of its rival firms in terms of business longevity, originally dedicating itself to the investment of precious metals IRAs.
For close to twenty years, the company has successfully upheld and enhanced its outstanding worldwide reputation. Birch Gold Group has garnered exceptional ratings from sources such as Google, TrustPilot, and several others. Although one might question the authenticity of these scores, it’s important to note that these online platforms solely assign ratings based on user reviews.
Opting for Equity Trust, the custodian recommended by Birch Gold Group, is likely the optimal choice for you. They provide three options, including Delaware Depository Service Company, Brinks, and International Depository Services, where you can store your gold or other precious metals. It is important to anticipate a monthly storage cost exceeding one hundred dollars.
You can choose from a wide variety of precious metals offered by the company, such as American Gold Eagle Bullion, Canadian Gold Maple Leafs, and Silver Coins. This diverse selection allows you to invest in valuable metal assets according to your savings budget, and gradually grow your ownership.
It is crucial to emphasize that Birch Gold Group expects its investors to make a basic payment to cover expenses. Such expenses include 401k transfer costs, annual account maintenance, and custodial fees. These fees remain unchanged and are applicable irrespective of the number of precious metals assets held in your IRA.
Investing In A Precious Metals IRA
Here are the necessary steps to be taken if someone decides to invest in precious metals within their IRA account.
- Select a self-directed IRA custodian to work with. An IRA custodian is a fiduciary, and therefore has the responsibility to act in the best interest of the customer at all times. These custodians arrange for transfer and delivery of metals to depositories and provide customers with periodic statements of their account (i.e. monthly and annually). In addition, the custodian will make the actual precious metals purchase from the dealer. The custodian will also handle the transfer of funds from one’s traditional IRA account, 401k or other retirement account to their self-directed IRA account.
- Decide what precious metals products they would like to add to their portfolio and make sure that these products are on the eligible list. A self-directed IRA custodian should be knowledgeable in such matters and be able to assist in the selection process. Many precious metals dealers can offer some guidance on this, as well.
- Choose a precious metals dealer to purchase from. One has the ability to shop around and look at various precious metals dealers to compare prices and products. Some precious metals dealers will also have established relationships with self-directed IRA custodians that they may recommend. At JM Bullion, we have partnered with New Direction IRA to offer the lowest cost and quickest IRA setup and maintenance, so you can enjoy all the tax benefits of IRA investing.
- Once decided where they will buy their precious metals; they will go ahead and instruct their self-directed IRA custodian to make the purchase on their behalf. The custodian will pay the precious metals dealer out of the self-directed IRA account and arrange for the transfer of one’s bullion to either a depository of their choice or an eligible depository of the customer’s choice.
- Once the purchase and transfers have been made, the custodian will provide regular statements and accounting of the self-directed IRA account. These statements will outline current account holdings, market value and other pertinent data.
In conclusion, the establishment of a self-directed IRA account is an uncomplicated and convenient process. Within a timeframe of approximately two weeks, one can swiftly set up the account, provide funds, and possess precious metals within it.
IRA Rollover Guidelines
When contemplating a rollover of a precious metals IRA, it is crucial to adhere to certain important guidelines. Some of these guidelines include:
Avoid withdrawing funds from your IRA account and let the custodian handle all fund transfers. It is crucial to refrain from any actions that may jeopardize the tax deferred status of your IRA account. Self-directed IRA custodians have expertise in managing these transactions and will ensure to safeguard your account status. Any unintentional withdrawal could be regarded as a taxable distribution and may incur early withdrawal penalties.
In a rollover for a precious metals IRA, it is not possible for you to physically receive the metal. This restriction is understandable when considering that traditional IRA accounts have not been taxed yet. Hence, the government aims to safeguard these assets to ensure they are available when you begin to withdraw funds. This arrangement enables you to choose between metal or cash while allowing the government to collect the applicable taxes on the assets.
DISTRIBUTIONS CAN BE TAKEN IN METAL. You do not have to sell your metals when it comes time to take a distribution. You can take delivery of the metals or sell the metals for cash — it’s up to you depending on your financial goals.
After completing an IRA rollover, it is possible to make additional contributions as long as you meet the IRS guidelines. Once your precious metals IRA is set up, you can continue to contribute provided you are below a certain age and adhere to the maximum yearly contribution limits. This offers an excellent opportunity for individuals who wish to gradually accumulate more gold, silver, or other precious metals.
Make sure you select a self-directed IRA custodian who is reputable and possesses ample experience. Currently, there is a wide array of self-directed IRA custodians available. It is essential to conduct proper research. Before employing their services, thoroughly investigate companies. Seek out a custodian who receives positive online reviews and has a significant duration of operation. Additionally, prioritize custodians who possess expertise in precious metals IRAs and IRA rollovers.
When considering the establishment of a precious metals IRA account, it is important to take into account factors like the ideal allocation for oneself and which products align with their needs or goals.
We strongly advise seeking guidance from a financial adviser and tax professional for any financial advice or possible tax complications. The information provided here should not be considered or interpreted as tax advice. It is always advisable to consult your personal CPA or tax professional for any concerns related to taxation.