HOME STORAGE IRA OR CHECK BOOK LLC
The Home Storage IRA That Puts You 100% In Control Of Everything
A Home Storage IRA with an LLC checking account is the ideal solution for protecting you, the investor, against financial and political chaos. Not only will you have 24/7 emergency access to your precious metals but you can also forget about paying transactions and asset-based fees that are typically associated with regular IRAs. By giving you 100% power and control over your money, a Home Storage IRA allows for more freedom and much faster investment decisions.
Capital Gold Group will deliver your precious metals directly to your home, or bank — authorized signature required. You can also rest assured that our Lifetime Account Support is available to answer any questions and offer guidance when you need it most.
All It Takes Is Three Simple Steps To Invest In Irs-Approved Precious Metals
Capital Gold Group makes it easy for you to enjoy all the tax benefits that come with investing in IRS-approved precious metals through a Home Storage IRA. With a Self-Directed IRA with checkbook control, you will always be the sole manager of your account. This also means that you can take control of your physical precious metals by having them delivered directly to your home. Plus, when using the LLC’s checking account, you can act quickly when a good investment opportunity arises.
Here are the three simple steps you need to take to set up a Capital Gold Group Home Storage IRA and achieve complete control of your precious metals investments:
- OPEN A SELF-DIRECTED IRA WITH KINGDOM TRUST
When starting your precious metals investment journey, you need a reputable custodian in order to open a Self-Directed IRA. Here at Capital Gold Group, we utilize Kingdom Trust, an independent and qualified custodian that is regulated by the South Dakota Division of Banking with $12 billion in assets under custody. Best known for specializing in unique and innovative custodian solutions, Kingdom Trust has extensive experience in working with individual investors, investment sponsors, family offices, advisory firms, broker-dealers, and many other investment platforms.To open a new Self-Directed IRA with Kingdom Trust, you will need to pay a $25 one-time setup fee and a $100 annual custodian fee. Once your account is active, Kingdom Trust will handle all your IRA’s assets and funds according to your direction, as well as take care of all the administrative responsibilities and make sure your investment maintains its tax-deferred status.
- SET UP AN LLC FOR YOUR IRA
A Home Storage LLC is set up specifically as an IRA investment vehicle. It involves your IRA owning a limited liability company (LLC), which can establish a checking account. As the owner of the IRA, you are also the manager of the LLC owned by the IRA. The LLC gives you access to your IRA’s funds via the checking account and the ability to use those funds to purchase precious metals, such as coins and bullion. Put simply, it permits you, the IRA holder, to approve all investments as the manager without any custodial involvement and allows you to remain compliant with IRA rules and regulations. Not only does Checkbook Control offer you greater investment freedom but it also enables you to avoid the transaction and handling fees associated with a self-directed IRA.Although the Home Storage LLC comes with many advantages, it’s important to understand the responsibility that comes with having complete control of your IRA proceeds. As Capital Gold Group does not provide tax, legal or investment advice, we recommend you always seek the assistance of a tax or legal advisor before setting up an LLC for your IRA.
- PURCHASE PRECIOUS METALS FROM CGG
Once your new custodian, Kingdom Trust, has transferred the funds from your IRA to your Home Storage LLC IRA checking account, you can purchase precious metals from Capital Gold Group. We carry a wide and varied selection of bars, coins, and rounds that are IRA eligible and meet IRS fineness standards, all of which are ideal for protecting yourself against financial uncertainties. To qualify as IRA-approved items, precious metals must meet the following minimum purity requirements:
- Gold .995
- Silver .999
- Platinum .9995
- Palladium .9995
- Regardless their purity, most gold, silver, platinum, and palladium coins struck by the U.S. Mint after 1985 are also permitted
Don’t forget, our precious metals experts are available to guide you on which of our products are acceptable in your IRA. After you’ve made your selection, you can purchase your chosen items with a bank wire from your LLC IRA checking account. Once the transaction is complete, Capital Gold Group will ship your precious metals via our secure insured delivery service to your LLC.
Home Storage IRA Faq’s
Will I Have 100% Control Over My Home Storage IRA?
Yes. As the manager of the LLC owned by the IRA, only you have complete control. This means you don’t need to rely on a custodian or administrator to fund a purchase or write a check. You take care of everything, including adding or liquidating precious metals and storing your investments in your own home.
Why Do I Need A Custodian Then?
By law, every Home Storage Gold IRA must have a qualified and IRS-approved custodian to invest in a newly formed LLC. However, by having checkbook control over your IRA, you eliminate further custodian involvement and custodian fees. You are still the manager of the LLC and own the physical precious metals, so only you hold 100% control over all transactions.
Will I Still Get The Benefit Of Tax-Deferral On Any Earnings?
You absolutely will. The IRS treats a Home Storage Gold IRA the same as a regular IRA. This means you can take advantage of investing in precious metals with tax-deferred funds. If you have any further questions about taxes, we recommend you speak with your CPA or tax attorney.
Do I Have To Store My Precious Metals At Home?
Not necessarily. You can still take control of your metals by storing them locally in a safety deposit box or private depository. In order to own a Home Storage Gold IRA, the IRS does require you to provide documentation to prove that your metals are stored in a secure location under your chosen LLC name. For more information about this, we suggest you consult with your CPA or tax attorney.
Can Any Retirement Account Be Rolled Over Into A Home Storage Gold IRA?
Most retirement accounts can be rolled over, including but not limited to:
- Traditional IRAs
- ROTH IRAs
It takes our trusted Home Storage Gold IRA experts only a few minutes to determine whether your retirement account qualifies for a rollover, so be sure to call Capital Gold Group for assistance.
Are You Sure The Irs Allows Physical Precious Metals In A Home Storage Gold IRA?
We’re positive. Section 408(m)(3) of the Internal Revenue Code provides a list of the certain bullion and precious metals coins that are permitted in your Home Storage Gold IRA. You may also be interested to know that the IRS has allowed investors to manage self-directed IRAs with checkbook control ever since the 90s.
How Much Is A Home Storage Gold Ira Going To Cost Me?
There are a few fees to consider. Firstly, there is a one-time setup fee of $435.00 which covers the establishment of your own LLC, the operating agreement, state filing fees, first-year agent filing fees, EIN filing and year-round account support. The $135 annual cost is a lot less and includes the Registered Agent Fee and $100 custodian fee. We’re pretty confident that the cost of maintaining your retirement account will set you back more than a Home Storage Gold IRA. Plus, you’ll have 100% control of your money and have access to your funds whenever you like, two things you will not get with a traditional IRA.
What If I Want To Combine Multiple IRAs For My Home Storage IRA?
This can absolutely be done and with ease. Multiple IRAs or a combination of IRAs can be combined into one account to create your Home Storage IRA.
Do I Need To Report My Distributions To The IRS?
No, but your IRS custodian does. The IRS states that all distributions must be tracked and reported by your IRA custodian, so Kingdom Trust will take care of this on your behalf.
If I Already Have An Llc, Can I Use This For My New IRA?
Unfortunately, you cannot use an existing LLC that you already own. Only a newly created LLC that has been specifically established for your new IRA with the IRA owner as the manager is allowed.
Has The IRS Ever Announced That Ira Llcs Are Acceptable?
Even though the IRS has not publicly commented on whether an IRA-owned single-member LLC is or is not acceptable, the IRS has made it very clear to examiners that such structures could be used wrongly and should be carefully watched over. Basically, an IRA-owned LLC can be a viable investment vehicle for a Self-Directed IRA provided it does not violate IRS rules and has been structured correctly by professionals who specialize in this area.
Always Speak With A CPA Or Tax Professional Before Making Investment Decisions
Capital Gold Group does not provide legal or investment advice. We have, however, consulted with tax counsel to assess the risks associated with storing physical precious metals at home or in a safe deposit box. While we rely on the advice given, it’s important to understand that the IRS is yet to offer clear guidance on LLC IRAs and the legality of storing precious metals outside of a depository. We STRONGLY URGE you to speak with a legal counsel or tax advisor before making any important investment decisions on your own and to be certain that your LLC IRA complies with Internal Revenue Code Section 408.
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