Frequently Asked Questions
What kinds of retirement accounts qualify to be rolled over into a Gold Gate Precious Metals IRA?
You’re allowed to rollover or transfer money from any existing IRA (including traditional IRAs, SEP IRAs, Simple IRAs and Roth IRAs), 401(k), 403(b), 457 or TSP.
If you wish, you can also take advantage of a Roth conversion by moving your 401(k), 403(b), 457 or TSP into a Gold Gate Capital Roth Precious Metals IRA. However, you’ll have to pay income taxes on the amount you convert. However, no income taxes will be due when you take distributions from the Roth IRA.
Am I allowed to take physical possession of the gold and silver in my IRA?
As long as the metals are invested in your IRA, regulations require that they be stored securely at an approved depository. Taking possession of them yourself is considered a distribution, and you’d likely have to pay taxes on the value of the metals you receive.
However, once you reach age 59-1/2 and are eligible to take distributions from your IRA, you may take the distribution in the physical metal or as a cash payment.
I need tax advice. Can my Precious Metals consultant help me with that?
Unfortunately, we are not allowed to give you tax or legal advice. Therefore, we can’t advise you as to the tax consequences of opening a Gold or Silver IRA or to purchasing or selling gold or silver.
I need financial advice. Can my Precious Metals consultant help me with that?
Our consultants aren’t licensed financial advisors, and therefore aren’t allowed to give individualized financial advice. They can only provide general information about gold and silver investing. If you need financial advice, then we urge you to seek out a licensed financial advisor.
Does buying precious metals come with any risk?
There’s no such thing as an investment that doesn’t carry at least some risk. Anyone who tells you otherwise is misleading you. The risk that comes with investing in precious metals is simply that prices rise and fall, both of which impact the value of your investment. It’s also important to note that precious metals don’t produce income. You may want to conduct additional research or talk to your financial advisor about the risks of investing in gold and silver.
Disclaimer: This information is general in nature and not tailored to the specific goals of any individual. All investments carry risk. Some of those risks associated with precious metals include the following: prices may rise and fall, which means the value of your metals may go up or down over time and you may sell for more or less than you paid. Past performance does not guarantee future results. Gold Gate Capital cannot guarantee, assure, or promise future market movement, prices or profits. Gold Gate Capital and its representatives are precious metals specialists, we are not licensed financial advisors and do not give financial advice. Additionally, Gold Gate capital cannot provide tax or legal advice and will not advise as to the tax or legal consequences of purchasing or selling precious metals or opening a Precious Metals IRA. Individuals should consult with their investment, legal or tax professionals for such services.