Some precious-metals bullion dealers recently have been advertising “home storage” as a legal and beneficial option for storing bullion that may be invested in an individual retirement account (IRA).
The “home storage” concept may conflict with the laws that allow for tax-advantaged IRA investments.
The Industry Council for Tangible Assets (ICTA) has produced a white paper which explains why the “home storage” concept may conflict with the laws that allow for tax-advantaged IRA investments. The purpose of the paper is to try and make it as simple as possible to understand.
The paper has been released to ICTA members to aid them in understanding how the Internal Revenue Code §408 applies to individual retirement accounts. To access the white paper, ICTA members may log in and select Resources > White Papers > Miscellaneous > IRA Home Storage.
ICTA is also making the paper available to non-members. For information to obtain the white paper, visit the website of the ICTA.
ICTA is a 501(c)(6) non-profit association that represents the rare-coin, currency, and precious-metals communities. ICTA is supported solely by dues and donations. To join or learn more about the ICTA, please visit our website.
Press release courtesy of the Industry Council for Tangible Assets.