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December 24, 2024
Frequently Asked Questions
How do I move funds from another retirement account into a Gold IRA?
There are two tax-free and penalty-free ways to transfer money between retirement accounts: the 60-day rollover option and the trustee-to-trustee transfer. If you use the 60-day rollover option, your current IRA provider mails a check to your home address. You then simply mail the check to American Hartford Gold. There are no taxes or penalties incurred if you send the check to us and it is deposited into your account within 60 days. The trustee-to-trustee process moves your retirement monies from your current IRA provider directly to us so we can get it into your account the quickest way possible. Our Account Executives will work closely with you to make the transfer process seamless and we will do all of the work to ensure you have no worries.
Do I actually own the physical metals or do I just receive certificates in a Gold IRA?
When you open a Gold IRA, you own the physical metals. Your assets are stored at an IRS-approved, insured private storage facility called a “depository.” Once you retire (after 59.5) or reach the age when you start taking mandatory distributions, you can choose to either receive the actual physical metals or liquidate the appropriate amount based on current IRS rules.
Why can’t I hold precious metals in my traditional IRA?
Traditional IRAs invest only in more traditional investment vehicles, such as mutual funds, bonds, stocks, and ETFs. That is why a “Self-Directed IRA” like our Gold IRA is required for you to invest in tangible precious metals and get the same tax-deferred benefits.
Can I make contributions into the Gold IRA as I normally do with my traditional IRA?
Yes. Your contributions can be used to purchase more precious metals and grow the account over time or to purchase other investments in your IRA.
What happens when I want to take a distribution from my Gold IRA?
Contact your Account Executive and let us know whether you want cash or would prefer your physical precious metals shipped to you directly. We can arrange secure shipping or assist you in liquidating your precious metals for cash. Your distribution can be wired into your chosen bank account or we can mail a check to you. It doesn’t take long to process your distribution and the funds will be sent out right away. Please remember that all IRS rules apply, which could mean facing penalties and taxes upon withdrawal before age 59½, and that we recommend holding precious metals for five – ten years.
How can I track the performance of my Gold IRA?
Our Account Executives are available to provide any information you need to track the value of your Gold IRA. You will also receive a statement from your account administrator on a regular schedule. We have also created real-time charts you can view anytime on your computer or phone: Gold price charts Silver price charts Platinum price charts
How do I set up my Gold IRA and how long will it take?
Our Account Executives will assist you with your entire Gold IRA application process. We then get touch with your current IRA provider to expedite the tax-free rollover of part or all of your retirement assets in the rollover account. The transfer of assets can take up to 5 business days, depending on your current IRA custodian. The funds are usually transferred via bank wire, and once they have been deposited into your Gold IRA account, you are ready to enjoy the security and safe haven appeal of precious metals. It generally takes one business day to open your Gold IRA and receive your new account number. The time it takes to transfer funds depends on your current IRA custodian but usually averages one-five business days.
Do I pay shipping on my Gold IRA?
No. Our orders are shipped free of charge and all packages sent include insurance and tracking at no additional cost. You can track your order while it is en route to the depository. You are completely covered in the unlikely event your shipment is damaged in transit.
Does American Hartford Gold have a minimum Gold IRA initial contribution amount?
Yes, The minimum order size for our self-directed Gold IRA is $10,000.
What are my depository storage fees?
Fees vary based on your account’s size and the metal holdings in your depository. Depending on your situation, the storage might be free. Please contact our Account Executives for more information.
Can I take physical delivery of my precious metals for my Gold IRA?
To keep the account in good standing with the IRS, you must keep the gold and silver coins and bars in the vaults of an approved depository. You can liquidate your Gold IRA account and take physical possession of your metals at any time but be mindful of the tax consequences. Doing this before age 59.5 can have serious consequences for your retirement balance. There may be tax implications and penalties, so you should consult with a qualified tax advisor before making any decision.
If I invest in a Gold IRA, do I still receive my physical precious metals at home?
No. The IRS requires that we ship your gold and silver to your choice of an approved depository (we like Brinks Global Services and Delaware Depository), who then holds your precious metals for you safely and privately until you decide to liquidate your holdings in retirement. Note: you may be offered “Home Storage IRAs” or “Private Storage IRAs” by other companies in the market, when you ask, “is it ok to keep your IRA gold in a safe deposit box if the IRA is set up correctly?” The answer is buyer beware! Current IRS regulations are not clear about these vehicles and it is not impossible that they could be declared invalid in the future, with unexpected consequences for you. Not worth it.
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