Setting Up A Self Storage Precious Metals IRA Is A 5 Step Process.

1.  Opening an IRA Account with a self-directed custodian.

For Self Storage IRA, Allegiance Gold works with Kingdom Trust, an independent qualified custodian, regulated by the South Dakota Division of Banking with $9 Billion dollars under management. Kingdom Trust facilitates the investment process at your specific direction and provides you with the necessary IRS reporting for your retirement account. Kingdom Trust will assure your self-directed Traditional IRA investment maintains its tax-deferred status, distribute your proceeds according to your direction as the account owner, and facilitate all of the administrative responsibilities.

2. Funding the Account:

After the Self-Directed IRA account is open with Kingdom Trust, the next step is to deposit funds into that account. Whether you are rolling over an existing account or funding a new one, your IRA Custodian will guide you through the process of transferring the funds into your new custodian. Once the new account has funds, your IRA custodian will notify Allegiance Gold.

3. Creating the LCC, Operating Agreement and Open LLC Bank Account:

Setting up a single member Limited Liability Company (LLC) for the Self Storage IRA is required. It is vital that you work with a qualified and competent third party to structure the LLC. The LLC will be owned by your IRA and all taxes will be deferred until you start taking distributions from your IRA. After completing the Operating Agreement (the rules by which the limited liability company is governed) and receiving the Employer Identification Number (EIN), you will then open a checking account in the name of your LLC.

4. Capital Contribution Processed:

After the newly established Self-Directed IRA with Kingdom Trust has received the retirement plan’s money and the LLC has been established, it is time to direct the initial capitalization of the LLC. The new custodian will be directed to invest your IRA in the LLC. Once the transaction has taken place, your Self-Directed IRA is the owner of the LLC, owning most, if not all of its member units. The LLC holds all of the cash in the LLC checking account.

5. Purchasing Precious Metals:

You are ready to purchase IRA approved precious metals, through the LLC. Your IRA Precious Metals will be shipped fully insured to your chosen location. Unlike the self directed option where the precious metals are shipped directly to depository, with the self storage option, you can have the precious metals shipped directly to your home.

Disclaimer about Self Storage IRA:

Allegiance Gold does not provide investment, legal or tax advice, so an investor looking to structure his or her IRA in this fashion should do the proper research and employ the services of a tax or legal professional well versed in single-member LLCs within an IRA. At the time of this writing, the IRS has yet to clarify whether the storage of precious metals that are owned by an LLC inside an IRA may be stored anywhere other than in the custody of a trustee or custodian as defined by IRS code without risking the possibility of penalties or tax consequences. Therefore, Allegiance Gold does not recommend that its clients store precious metals that are owned by an LLC inside of an IRA at home or anywhere other than with a trustee or custodian as defined by IRS code until such clarification is made by the IRS, including LLC registered safety deposit boxes. As investors seek ways to protect their assets in an unstable economy, Allegiance Gold has responded by offering the Self Storage Precious Metals IRA, a secure way to defend your life savings.