Up until recently as 1997, the U.S government placed restrictions on IRA investments to cash-based contributions only. In the form of stocks, bonds, money market funds and mutual funds.The ‘Taxpayer Relief Act’, Congresses issued in 1997 introduced new rules regarding investments that can receive tax-referred treatments: gold, silver and precious metals in special custodial IRA accounts.
Having a precious metals account gives individuals the ability to invest their financial funds for retirement in a precious metals account. With a custodial account you can invest in gold with the privacy and security of an IRA. Any Roth, SEP or Traditional account can be used for precious mental investment.
IRA to IRA transfers have no tax consequences as long as the funds are transferred to and from the same type of IRA (i.e., Traditional to Traditional, Roth to Roth). A rollover from an employer-sponsored plan such as a 401(k) to an IRA is also allowed and is a reportable event, but not a taxable one.
The rules for distributions from a Precious Metals IRA are the same as with any other IRA. Once you reach age 59 ½, you may take distributions without the 10% penalty assessed by the IRS for early withdrawal, and required minimum distributions begin in the year you turn 70 ½.
