We expect to see strong demand from self-directed IRA investor looking to buy gold and other precious metals in order to diversify against the backdrop of volatile global financial markets
New York, NY (PRWEB) January 18, 2015
IRA Financial Group, the leading provider of “checkbook control” Self-Directed IRA LLC solutions expects to see an increase in demand from self-directed IRA investor looking to purchase gold and other precious metals in light of the recent unstable global currency markets. This is especially true in light of Swiss National Bank surprisingly announced it’s scrapping its currency floor with respect to the Euro. The Swiss central bank’s move is greatly increasing the apparent risk of holding the Swiss franc, which is now up 15% against the euro. The belief among self-directed IRA investors is that gold, which is considered a currency alternative and store of value, is a safe alternative to holding risky currencies. “Against a setting of fears about global growth, deflation and renewed currency volatility, gold has staged a climb higher since the start of November, 2014, stated Adam Bergman, a tax partner with the IRA Financial Group. “We expect to see strong demand from self-directed IRA investor looking to buy gold and other precious metals in order to diversify against the backdrop of volatile global financial markets, “ stated Mr. Bergman.
The IRS does not list the type of assets or investments that may be purchased with retirement funds, but does indicate which categories of assets or investments are not permitted.
The categories of transactions that are not permitted to be purchased using a Self-Directed IRA LLC can be found in Internal Revenue Code Sections 408 & 4975.
When it comes to coins or metals, Internal revenue Code Section 408 is generally the provision that applies. In general, collectibles such as artworks, rugs, stamps, certain coins, beverages and antiques, etc. are not allowed within a Self-Directed IRA for precious metals, pursuant to Internal Revenue Code Section 408.
Internal Revenue Code Section 408 is specific as to what defines a collectible. Some notable exceptions are allowed for certain gold (such as American Eagle) and silver coins and any coins issued by a state. Legislation in 1997 further liberalized the rules for IRAs by making reference to specific definitions of acceptable coins in USCS, title 31; IRC sections 5112(a), (e) and (k); the Commodity Exchange Act; and IRC section 408(m)(3).
According to Mr. Bergman, “there is a consensus among financial professionals across the globe that asset diversification is the key to retirement investment success. To reduce the risks of investing, they suggest the purchase of precious metals to diversify investments among different securities or asset classes. With IRA Financial Group’s self-directed IRA LLC precious metals solution, one can hold precious metals in your individual retirement account and generate tax-free income and gains.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market's leading “checkbook control Self Directed IRA and Solo 401(k) Plan provider. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.