There’s a lot of confusion and misinformation about how this entire process works. There’s 3 steps involved in the process, and I’ll explain each of them below:
Step 1: Choose A Custodian – A gold IRA custodian will help you file all the necessary paperwork with the IRS and make sure you’re fully compliant with their regulations. They’ll help answer any questions you may have and make sure you’re existing retirement account is eligible for a rollover.
Step 2: Fund Your IRA – Purchase your precious metals from a reputable dealer, and fund your 401k to gold IRA rollover
account. Your custodian can help you find a gold company to purchase your metals from, and can assist with choosing which types of metal is best for you. You can choose between bars and coins, but there’s pros and cons to each.
Step 3: Choose a Depository – Choose an IRS-approved depository or trustee to store your physical gold. The IRS doesn’t allow you to store the precious metals in your home.
Which IRA Custodian Do We Recommend?
Whether you want to open up a new gold IRA account or convert your existing ira or 401k, the company that we recommend most is Regal Assets. Here’s why Regal Assets is the best in the industry:
- A+ Rating With The Better Business Bureau and 5-Star Rating on TrustLink.org
- Lowest Storage Fees For Your Gold
- Experienced Staff Available 24/7 To Answer All Your Questions
- All Fees Are Waived For The First Year
- Guarantees Delivery of Your Gold Within 7 Days
Whether you have a 401k, traditional IRA, or a pension plan, you can still quality for a gold IRA rollover with zero tax implications. This means that you can safely convert money into your gold IRA without risking any penalties or losing any of your money to taxes.