Funding Your Precious Metals IRA
There are three ways to fund your account:
Frequently Asked Questions
What is an IRA to IRA Transfer?
An IRA to IRA transfer is the movement of funds from one IRA directly to another IRA of the same type. You may request as many IRA transfers as you like each year; transfers are not reportable on your tax return and are not subject to taxation.
An IRA transfer is initiated by completing and submitting the Entrust IRA Transfer Form. Once submitted, Entrust will process the request with your current custodian on your behalf. IRA transfers typically take 5-7 business days.
How do I “rollover” funds from a previous employer plan to an IRA?
A “direct rollover” is the movement of retirement funds directly from a previous employer plan into a traditional IRA. A direct rollover must be initiated by the plan participant(employee) and is typically requested by completing the employer or plan administrator’s “direct rollover” form. The current administrator/employer is not required to withhold federal taxes on direct rollovers to an IRA.
What are the 2015 IRA annual contributions limits?
TRADITIONAL & ROTH IRA
Under 50 $5,500
Age 50+ $6,500
For more details on calculating reduced contribution amounts, please see the IRS website.
Up to 25% of gross income, to a maximum of $53,000 (2015).
Under 50 $12,500 (2015)
Age 50+ $15,500 (2015)
Will I be able to distribute the metal in-kind from my IRA?
Yes, you may take physical possession of your metal at any time by completing the IRA Distribution Form. In-kind distributions from your IRA are reportable to the IRS. The market value of the metal on the day the distribution is requested will be reported on your annual 1099R.
May I pay my IRA storage and custodial fees with non-IRA funds?
Yes. Both the annual administration fee and the monthly storage fee may be paid with personal funds. IRA holders may deposit funds into their “pre-paid” fee account at Entrust to cover all future administration and storage fees. Instructions for depositing funds into your “pre-paid” fee account can be found on the deposit coupon.