Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Fake Apmex 1oz Gold Bar
>
Reply to Thread
Message:
<p>[QUOTE="calcol, post: 2901209, member: 77639"]An LLC included in an IRA can own gold but only if it's under the control (i.e. physical possession) of a bank or IRS-approved non-bank trustee. The rules for becoming a non-bank trustee are complex and entail substantial expense. For example, it must have at least a quarter million $ in assets of its own, all employees must be bonded for a quarter million $, legal counsel must be permanently retained, it must be audited regularly by a CPA, etc. I rather doubt the IRS would approve a non-bank trustee whose purpose is to buy and hold gold for a single person or small group of people who also are the trustees.</p><p><br /></p><p>Links: <a href="https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-investments" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-investments" rel="nofollow">https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-investments</a></p><p><br /></p><p><a href="https://www.irs.gov/retirement-plans/application-procedures-for-nonbank-trustees-and-custodians" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.irs.gov/retirement-plans/application-procedures-for-nonbank-trustees-and-custodians" rel="nofollow">https://www.irs.gov/retirement-plans/application-procedures-for-nonbank-trustees-and-custodians</a></p><p><br /></p><p>It's possible if you have a segregated account, you might get to see your gold from a distance. I doubt you would be allowed to physically touch it.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2901209, member: 77639"]An LLC included in an IRA can own gold but only if it's under the control (i.e. physical possession) of a bank or IRS-approved non-bank trustee. The rules for becoming a non-bank trustee are complex and entail substantial expense. For example, it must have at least a quarter million $ in assets of its own, all employees must be bonded for a quarter million $, legal counsel must be permanently retained, it must be audited regularly by a CPA, etc. I rather doubt the IRS would approve a non-bank trustee whose purpose is to buy and hold gold for a single person or small group of people who also are the trustees. Links: [url]https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-investments[/url] [url]https://www.irs.gov/retirement-plans/application-procedures-for-nonbank-trustees-and-custodians[/url] It's possible if you have a segregated account, you might get to see your gold from a distance. I doubt you would be allowed to physically touch it. Cal[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Fake Apmex 1oz Gold Bar
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...