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<p>[QUOTE=&quot;desertgem, post: 2900299, member: 15199&quot;]Here are some specific IRS guidelines that most stackers/End of world decides to say &quot;No&quot;</p><p><br /></p><p>The custodian’s role in a precious metals IRA is paramount, the IRA investors themselves are not allowed to have possession of the coins or precious metal assets. Again investors not even allowed to purchase gold to turn over to their IRA custodians. Investor possession of such will be considered distribution under IRS regulations and can be considered as fully taxable.</p><p><br /></p><p>It is the IRA custodian who has to purchase gold to be placed into the gold IRA account and his or her responsibility to store it in a third-party depository. It is up to you as the investors to order the custodian to buy more gold or sell more gold as you see fit.</p><p><br /></p><p>The items must be kept in an IRS-approved depository specifically for precious metals. This depository should have an annual storage fee, paid from your IRA account, there it will be held secure until you cash it in or trade it for another type of investment.</p><p><br /></p><p><br /></p><p><br /></p><p>Here is the Wiki introduction ( sorry, I prefer a source that doesn&#039;t provide and profits from doing it.</p><p><br /></p><p>To comply with IRS requirements, all IRAs, including precious metals IRAs, must be in the possession of a trustee or custodian. Therefore, legally speaking, precious metals in an IRA are in the custody of the trustee or custodian, not the IRA owner.<b> IRS Publication 590</b> specifies that for all IRAs, “The trustee or custodian must be a bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian.”<a href="https://en.wikipedia.org/wiki/Gold_IRA#cite_note-7" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Gold_IRA#cite_note-7" rel="nofollow">[7]</a> Many trustees/custodians use civilian (private) depositories, which may be approved by various commodities exchanges, for storing IRA metals. Security features may include timed locks and automatic re-locking features, 24/7 monitoring, and motion, sound, and vibration detectors. They typically have large insurance policies, with some amounting to as much as $1 billion. There are two types of Gold IRA Storage permitted in depositories: non-segregated, where your assets are mixed with the assets of others; and segregated, where your assets are held separately from other people’s assets.</p><p><br /></p><p>For more info read IRS pub 590.[/QUOTE]</p><p><br /></p>

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