Episode notes
This episode outlines key regulations for storing precious metals within an Individual Retirement Account (IRA). It clarifies that the IRS prohibits storing IRA gold or other precious metals at a personal residence. Instead, these assets must be held by an IRS-approved custodian in an IRS-approved depository. The discussion emphasizes the importance of working with reputable Gold IRA Companies and custodians to ensure legal and secure storage and advises on potential consequences for non-compliance, such as taxes and penalties. Finally, it provides a step-by-step guide for setting up and managing a gold IRA, including selecting partners and coordinating the storage process.
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Keywords
gold ira home storage