How Can My 401K, IRA, or QRP Help Me Buy Precious Metals?

Q: I can’t use my IRA or other retirement fund to buy physical precious metals, can I?

A: In spite of conflicting advice out there regarding what you can or cannot do with your retirement funds, section 401 of the IRS Code states very specifically the limitations on what can be purchased with retirement funds.

What You Can Buy
Anyone with a 401k or an IRA can use those funds to buy gold and silver. You’re free to buy gold and silver bullion coins. In fact, you can use a 401k or an IRA to buy almost anything other than a vacation house, collectible rugs, or collectible coins.

The Hangup
The difference between the different accounts is whether you’re allowed to hold the gold or silver yourself or whether you’re required to hold it at a different facility.

With a QRP, a form of self-directed 401k retirement plan, you have the ability to actually hold the gold and silver without a custodian. You aren’t required to have the metals held in Delaware or Utah or somewhere else.

You do not have this option with an IRA, even a self-directed IRA. Some IRAs are being promoted with the false claim that the account holder is permitted to hold physical metals, but the advisors spouting these claims are circumventing IRS rules with imaginary loopholes and gimmicky language. They’re wrong, and they’re putting you in danger. The IRS can impose a fine of up to 115% of the value of the asset or transaction. You can literally lose all of your money and then some!

To protect yourself and your retirement funds from these penalties, we highly recommend you set up and use a QRP. Setting up a QRP is quick and simple, and it allows you to use your retirement funds to hold your own gold and silver.

Do yourself a favor and look into the QRP by visiting gold, QRP IRA, My Gold Advisor