Home Storage Gold IRA Myth Exposed – Buyer Beware

Today’s Topic: Gold IRA Home Storage Hi, my name’s Terry White, CEO of SunWest Trust, and welcome to Tuesday at 2. As I like to do sometimes, I’ve told you before I use Google Alerts and I get articles that are on the Internet, with various keywords, and one of them, one of the things I got recently was, “Gold and Silver IRA-You Hold The Metal”,
(Gold IRA Home Storage) and I wanted to just kind of point out that you need to be careful what you read on the Internet, and you need to make sure you understand exactly what they’re saying. This particular article talks about ‘a little-known idea’ of starting an LLC, and then funding the LLC from your IRA, which is perfectly legitimate, and it talks about that in the book that we provide to you when you set up a new account, the Self-Directed IRA Handbook; it talks about that in Chapter 13. Chapter 12 talks about the kind of metals that you can buy in your IRA, and where those metals have to be stored, and so, I just want to point out, in that book, in Chapter 12, it talks about Internal Revenue Code Section 408M-3b. And it says that the gold, or your precious metals must be held specifically by a bank, and the term, ‘bank’, is defined in the code as ‘including a national or state-chartered bank, credit union, as well as a state-chartered trust company’, as defined in IRC Section 408N. So, the one thing I’m concerned about is, it leads people to believe, that you can start this IRA-LLC, and then go buy metal, and potentially put it under your mattress. And I don’t think that that’s going to comply with the Internal Revenue code. If you go on and look in Chapter 13, of the Self-Directed IRA Handbook, it also talks about something that you might do, because it says, ‘an IRA-LLC may contain a safe deposit box with the financial institution in the name of the LLC, and such safe deposit box may store acceptable precious metals. The IRA’s LLC-owned safe deposit box would most likely meet the storage requirements of IRC Section 408M 3-b. For IRAs, as to the deposit box, it is at a financial institution, meaning a bank. This form of storage has not been addressed by the IRS, the DOL, or the courts, but it is a reasonable application of the storage requirements. Storage at the office address of the IRA LLC would not meet the storage requirement rules for the precious metals’. So, the one thing I wanted to point out, the main thing I wanted to point out, is, if you’re not careful, then just read this article, it might lead you to believe that you could form an LLC, fund the LLC with your IRA, which, again, is a legitimate strategy, but then you could go buy metals, and bury ’em in your backyard, or put them under your mattress, but at least according to Matt Sorenson, and I agree with him, that would not meet the requirements of Section 408 of the Internal Revenue Code. So, just be careful, and as a way for us to help you, in guiding you through these complicated rules and stuff, so that with the things you read on the internet, you have a resource to go back and look those up and make sure they’re correct, we make available the Self-Directed IRA Handbook, written by Matt Sorenson, who’s an attorney-at-law in Arizona, and this is available, if you’d like to just e-mail me, my e-mail address is [email protected], if you put a comment on this video below, we will send you this book, and if you set up a new account with SunWest Trust, you will get this book with your welcome package. So, thank you for taking the time to watch Tuesday at Two today, I hope you’ll tune in again next week, and I hope that you’ll take some time to comment, like us on facebook, and then subscribe to this channel, so that you’ll be sure to get all the latest information that we provide here. Thank you very much.

46 comments on “Home Storage Gold IRA Myth Exposed – Buyer Beware

  1. I really appreciate the insights from SunWest and now in my 2nd year of an IRA LLC – – never looked back, best retirement decision I've made.

    I do think there is another approach: IRC Section 408(m)(3)(A) references USC Title 31 Section 5112 as to which coins are acceptable to be held as retirement assets. Eagles (gold, silver, or platinum) meet the USC Title 31 Sec 5112 requirements and may be personally held in a self-directed IRA. Aside from Eagles, they must be held by a 3rd party custodian or trust company.

    I would like a Self-Directed IRA Handbook. 

    6500 Woodcreek Lane
    NRH, TX 76180

  2. Thank you for the information in the video.  Please send me the Self – Directed IRA Handbook   Thanks!
    Leslie Wilson 
    PO Box 622
    Montour Falls, NY 14865

  3. Thank you Terry for the information. I would like you to send me the self-directed IRA handbook.
    Denny Lensegrav
    17626 N. Coconino Dr
    Surprise, AZ  85374

  4. I had silver and gold stored in a safety deposit box at a bank and the contents of the box "disappeared".  When I investigated, I was informed that safety deposit boxes are intended for the safekeeping of documents only.  I strongly urge the use of an accredited custodian such as Sunwest Trust.

  5. Thanks for sharing this info with everyone. I also agree with the other comment about Eagles have been excluded by the IRS, since there are considered as coins and Not bullion. H is correct in stating the IRC Section 408(m)(3)(A) references USC Title 31 Section 5112 as to which coins are acceptable to be held as retirement assets. Eagles (gold, silver, or platinum) meet the USC Title 31 Sec 5112 requirements and may be personally held in a self-directed IRA. Aside from Eagles, they must be held by a 3rd party custodian or trust company.

    I would like a Self-Directed IRA Handbook. 
    Albert Oravet
    6163 Vista Trail
    Southside, AL 35907

  6. i would like to have a book sent to me if still available. i dont want to leave my address for everyone else tho. pls let me know thanks!

  7. The only exception I understand is that the Eagles (gold and Silver) can be held at home as they are classified different by the Gov't .  I would like a copy of the book for my further education.  Thanks:  5050 Dequincey Dr, Fairfax, Va.  22032

  8. Thank you Terry.  I have been researching this ever since I got a ad in my email.  I have a self directed IRA for precious metals and have to keep it in a depository.  I was very suspicious when I read this ad about keeping precious metals in your home.  Thanks for clearing that up for me.

  9. Terry, Thank you very much for the informative video covering Precious Metal IRA's. Per your offer in the video, please send me a copy of the Self-Directed IRA book that was shown in the video. Again, thank you very much for the useful information.
    Michael Cerkas
    W11585 Wruk Ln
    Crivitz, WI 54114-8189

  10. It is so generous of you to send me Matt Sorenson's book, The Self Directed IRA Handbook. I look forward to reading it and learning more about the Self Directed IRA process.
    I wish you continued success in business and in health. JDockins

  11. Very interesting video! I too would love a copy of the Self-directed IRA. Is there a cost (or a catch:)? Thank you!
    Jim Almond, 10203 Leeds Court, Orlando, FL 32836

  12. I was surprise that we could not doing an LLC and not being able to store precious metals outside a bank. I want to find a way to store precious metals that is safe from seizure from the bank or government. If you have some ways that can happen, i would be interested.


    Jack Robinson

  13. Good information. Seems there are more and more brokers that are advocating self storage retirement accounts. I think they are disingenuous. This video sheds light on the subject to help prevent getting taken advantage of.

  14. Thank you for this information.  I received a random call suggesting I can have metals currently in storage with a trust sent to me without taking a distribution and hold them physically myself yet you debunk that.  Please send me your book Scott Petit 124 Crane Ct Aiken SC 29803

  15. The best thing to do if U want precious metals is to take money from your bank accts or IRA'S and buy the gold,silver,platinum,etc and store it in a safe place.If the economy collapses U won't be able to get anything out of the banks.The government won't allow it.So you'll get screwed even if U have a legitimate LLC IRA and the metals are in a safe deposit box.Just buy the metals yourself from a legitimate dealer.

  16. So basically its all legit, he's just trying to sell us a book. Why the scare tactics? BUYER BEWARE! from what I can see, when I retire, I can legally poses the coins and stick them up my ass on a Tuesday or feed them to my 25 year old wife. Not to mention, there are physical coins somewhere of my choosing, not a certificate that says I own some gold somewhere that a greedy banker has somewhere.

  17. Awesome information! As a young adult I am still trying to understand a lot when it come to IRA and retirement funds. This really helped.

  18. With the potential problems that the banking institutions are facing and the increasing distrust in the big banks, would the metals have to be stored in a bank's deposit box or could they be stored in a private vault that met or exceeded the security of a bank?

  19. Phenomenal information. Thank you for your services in helping the common man learn about and utilize the tools of wealth building, protection, and retention!

  20. I asked my Broker here in MI, at my credit Union If I could buy gold and store it at my house with my IRA funds.He said absolutely you can, but I have report it every year and I suppose they could audit me to see if I have it. Not sure why he would say that I could keep it in my home but Ill find out Friday.

  21. Take your knowledge of self directed IRAs to the next level. Request your FREE book authored by Terry White on our site http://bit.ly/2OO5WJN

  22. Thanks Terry, loved this and your previous presentation. Would love a copy of the book please. Thank you in advance. Sincerely, Jason

  23. What type of precious metal Ira will allow me to actually own precious metals, as oppose to just a piece of paper?

  24. why would anyone with any common sense have a gold/silver ira that the government knows about? Has to be kept in a bank so they can STEAL IT FROM YOU. Buy your gold and silver and don't anyone where it is ever!

  25. That makes sense, the IRS doesn’t want home storage because they lose control of your assets. Same reason they want to get rid of cash

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