We
cannot ignore the fact that our economy is currently in a crisis,
and
that the Dow and many other asset classes are continuing to lose
a lot of their value. Many people may find that at least 35% of
their retirement portfolio isn't moving in a direction that
is profitable. What you do now all depends on what you own, how
you own it, and when you think you need the money. Over the long-term,
any value you lost may eventually come back some day –but
it could take many, many years…unless of course you own
shares in companies and funds that do not survive.
Here
at Northbridge Gold & Silver Exchange we're investors
just like you, so we understand one of the hardest things to
do is
rebalance a retirement plan. The only question becomes whether
you keep outdated and low producing investments or finally do
something about it. Take action. Did you know you can trade
out of your worst performing investment in your IRA, stop a loss,
and trade it for the conservative safety of physical gold,
silver or platinum? There are no tax consequences for moving
money between various mutual fund options in your IRA or 401k
retirement accounts, and we believe you're taking a fraction
of the risk you're taking with those stocks, bonds mutual
funds.
When
you are ready to take distributions from your IRA, NGSE can
assist you in converting your precious metals to cash or
arranging for delivery of your coins.
To Establish Your Precious Metals IRA Account Today, We Recommend:
Sterling Trust Company
PO Box 2526
Waco, TX 76702-2526
(800) 955-3434 Toll Free
(254) 751-0872 Fax
www.sterlingtrustcompany.com |
OR
|
Gold Star Trust
P.O. Box 719
Canyon, Texas 79015-0719
800-486-6888 Toll-free
806-220-2166 Fax
www.goldstartrust.com |
GoldStar Trust as a trust branch of a Texas
Bank, their financial condition is closely monitored by the Texas
Department of Banking and the FDIC. GoldStar Trust Company is
one of the nation's most complete retirement services providers.
Whether considering a Traditional IRA, Roth IRA, SEP or a SIMPLE
IRA, GoldStar Trust Company specialists are trained and equipped
to assist you in mapping the right retirement plan for your future.
Sterling Trust Company is a non-bank trust
company chartered under the laws of the state of Texas and regulated
by the Texas Department of Banking. Sterling Trust is a national
leader in providing self-directed retirement administration and
custodial services designed to maximize your ability to control
and manage your account assets. From their corporate offices
in Waco, Texas, Sterling Trust services individual and business
retirement accounts in all 50 states.
*All
IRA purchases must be placed over the phone. Call 386-446-3200.
NGSE
provides you with the following items that are permitted
in Precious Metals IRAs:
- American
Gold, Silver and Platinum Eagles (Uncirculated & Proof),
and American Gold Buffalos
- Austrian Gold and Silver Philharmonics
- Canadian Gold, Silver, Platinum and Palladium Maple Leafs
- Gold (.995+ fine) bars and rounds manufactured by a NYMEX
or COMEX-approved refiner/assayer
- Silver (.999+ fine) bars and rounds manufactured by a COMEX-approved
refiner/assayer
- Platinum (.9995+ fine) and Palladium (.9995+ fine) bars and
rounds manufactured by a NYMEX-approved refiner/assayer
Putting
your money into a precious metals IRA doesn’t
have to be as daunting as it sounds. Depending upon your specific
circumstances, you may:
Transfer An Existing IRA
This is something you can do at any time with your existing IRA, as long
as the assets go from "custodian
to custodian." That
is, in a direct transfer, the asset is transferred directly from one
IRA custodian to another.
After completing the direct transfer; you simply begin receiving
statements from your new IRA custodian. The distribution check
from the old IRA must be made out in the name of the trustee
or custodian of the IRA account that receives the rolled-over
funds. Transfers may be made as often as you want. You can be
assured that NPMG can explain the entire transfer process simply
and easily.
Rollover An Existing IRA
A rollover occurs when you get the money from an existing
IRA and then deposit it into another IRA. In this case, you would
need to deposit the funds into a new IRA within 60 days. If the
60-day time period is exceeded, you would be liable for taxes and
penalties.
You may roll over the same money once every 12 months, and it
will preserve the tax-deferred status of your retirement savings.
Establish A New IRA
At NPMG, we have made it easier than ever to open a precious metals IRA
account through our established working relations with www.sterlingtrustcompany.com or www.goldstartrust.com.
Each of these companies offers the high-quality, reliable service we
value for our customers.
Establish, Transfer,
or Rollover your precious metals IRA account today with
either Sterling Trust Company or Gold Star Trust. Once you
have done this, place an order with us—be sure to let
us know your purchase is for an IRA account. We will send the
invoice to your IRA company for payment and ship the precious
metals to the IRA company's approved depository for safe keeping.
It is an easy 3 Step Process to open your
precious metals IRA with Goldstar. |
|
1. |
Establish your IRA - Account
Opening Forms (Download and
Review) |
|
The first step is to open the IRA using
the application below. The Traditional IRA and Roth IRA Investment
Kits contain the application, disclosures, and fee schedule.
|
|
|
|
|
2. |
Fund your IRA - Account Funding Forms |
|
Before you can direct your investments in the IRA,
you need to fund the IRA. You might make a contribution, order a
transfer from another IRA, send a direct rollover from a retirement
plan, or roll over funds you received from another IRA or retirement
plan. Such as an old 401K, 403B, etc. Call your NPMG Account Executive
for assistance. |
|
|
|
|
3. |
Manage Investments in your IRA |
|
Once
you have money in your precious metals IRA, It is time for you
and your account executive,
or one of our Retirement Planning Specialist to fund your new IRA
with the appropriate metals to fit your retirement needs. Goldstar
will then be your custodian and have your metals in safekeeping until
you decide to liquidate or to take personal possession after age
59 ½. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
If
you have any questions, call your NGSE account executive
at 1-386-446-3200. |
Top |
|
IRA FAQ |
|
|
Q. |
What is a Self-directed IRA? |
A. |
A Self-directed IRA is exactly like any other IRA,
with one major difference. You get to choose where your IRA funds
will be invested, rather than just accepting whatever the IRA Trustee
or Custodian offers. This gives you greater flexibility, because
you can choose precious metals, stocks, bonds, CDs, mutual funds,
government obligations and other investments. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What are the Benefits of a Self-Directed IRA? |
A. |
- Provides Increased Investment Flexibility for the Investor
- Allows Consolidation of Diverse IRA Investments in a Single
Account
- Incorporates Safekeeping Storage of Precious Metals
|
|
|
|
|
|
|
Q. |
Can I combine other types of investments in the same
IRA? |
A. |
You may combine precious metals investments in the
same IRA with other types of investments. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
Am I limited to only precious metals in my IRA? |
A. |
Absolutely not! Your IRA may contain precious metals,
stocks, bonds, treasury securities, annuities and other investments. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can I buy gold and other metals in my Retirement
Plan? |
A. |
Yes! Contrary to what you may have heard or been told,
the IRS places very few limits on what you may buy with your IRA
retirement funds. It is your IRA custodian who has put those limits
on your retirement account. A true self-directed custodian is the
key. Truly self-directed IRAs allow you, the investor, to choose
your investments. IRA investments are not limited by the IRS; they
are limited by securities-based custodians. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
How can an investment in precious metals be made
through an Individual Retirement Account? |
A. |
An
investor with a self-directed IRA may direct that some of the funds
in the IRA be invested in precious metals. IRA
investments may include any gold, silver and platinum coins and gold,
silver, platinum, and palladium bullion which meet the refinement
requirements of bullion traded through commodities contracts. An
effective way to invest IRA funds in precious metals is to use a
self-directed IRA custodian which is very familiar with the requirements
of trading precious metals, storing them in custody, assigning values
for IRS reporting purposes, and administering the paperwork and regulations.
GoldStar Trust Company and Sterling Trust are two of the nation�s
leading trust organizations equipped to handle these unique requirements. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
Q. |
Can
precious metals investment be made through the client’s current
IRA? |
A. |
Yes, provided the current trustee or
custodian is willing to administer an investment in precious metals.
However, many self-directed IRA custodians or trustees are affiliated
with an investment provider such as an insurance company selling
annuities or a mutual fund company, and are not equipped or willing
to handle other types of investments. Others may have difficulty
meeting the storage requirements for holding precious metals in an
IRA. GoldStar Trust Company and Sterling Trust are willing and able
to serve as custodian for self-directed IRA accounts for clients
who wish to direct investment in precious metals. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
How much does a typical IRA investor
invest in precious metals? |
A. |
The current limit on annual contributions
to an IRA is $5,000 ($6,000 for those age 50 or older) but IRA holders
often have much more accumulated in their IRAs. Contributions over
many years will be combined with earnings on investments, and many
people have moved substantial sums from retirement plans into an
IRA when leaving previous jobs. Investments of $10,000 to $20,000
are fairly common, with the amount invested in precious metals sometimes
reaching $100,000 or more. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What is the minimum investment for
precious metals? |
A. |
The
investor should carefully consider the annual carrying costs of
the IRA account when deciding whether
to invest smaller amounts through an IRA or directly from after-tax
dollars. Currently, the annual costs of a self-directed IRA at GoldStar
Trust Company are typically $180 the first year and $140 per year
through the life of the investment. The annual costs may be higher
if the investor chooses to have his/her metals segregated at the
depository or if the value of the investor’s metals exceeds
$90,000. For a small investment, this represents excessive carrying
costs. Therefore, we require that IRA investments in precious metals
be a minimum of $5,000 so that relative carrying costs are reduced
to approximately 3% per annum or less. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What portion of an IRA is appropriate
for investment in precious metals? |
A. |
NPMG
cannot provide tax or investment advice, but this is an important
question which
the client should consider and discuss with and tax and investment
advisors. Factors to consider are the investor’s age and
total assets, expected needs for liquidity in upcoming years, and
investment philosophy. Precious metal investments can represent
a stable foundation for safety and security. Also bear in mind
that once an investor reaches age 70-1/2, a required minimum annual
distribution will apply. Provision should be made to leave some
liquidity in the account, or the mix of investments should be planned
so that the necessary value can be segregated and withdrawn in
kind. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Are there any guidelines regarding
allowable precious metals investments for an IRA? |
A. |
An IRA may hold investments in certain
specifically-permitted precious metals. Otherwise, coins and bullion
are considered to be collectibles under the meaning of the Internal
Revenue Code, and are disallowed for IRAs. The allowable exceptions
were broadened by the Taxpayer Relief Act of 1997, effective January
1, 1998. The specific precious metals permitted are: silver, gold
and platinum American Eagle coins, a coin issued under the laws of
any State, and gold, silver, platinum or palladium bullion that meets
certain requirements. The requirements for bullion are that it be
of a fineness equal to or exceeding the minimum fineness related
to certain regulated futures contracts and that the bullion be in
the physical possession of a trustee qualified to serve as an IRA
trustee. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
What are the fineness requirements
for bullion?
|
A. |
The minimum fineness for bullion is
specified in the Code by reference to regulated futures markets and
contracts. Generally, it appears that gold must be .9950 pure, silver
must be .9990 pure, platinum must be .9995 pure and palladium must
be .9995 pure. To be acceptable to IRA Trust Company, bullion bars
must be fabricated by COMEX or NYMEX approved refiners. This is necessary
for the bullion to be stored and recorded at the custodial facilities
of our depository bank. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can bullion coins be held in the IRA? |
A. |
Some coins may be considered bullion
under the Taxpayer Relief Act of 1997. Several governments around
the world issue coins of silver, gold, platinum, or palladium, with
fineness generally ranging from .9000 to .9999. Although the industry
generally presumes that at least those coins with the fineness required
for bullion will qualify, their qualification as an IRA investment
is uncertain, since the IRS has not yet issued guidelines. Contact
your NPMG representative to determine whether a particular coin will
be accepted for safekeeping. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What
types of precious metals are permitted within IRA? |
A. |
- American
Gold, Silver and Platinum Eagles (Uncirculated & Proof),
and American Gold Buffalos
- Austrian Gold and Silver Philharmonics
- Canadian Gold, Silver, Platinum and Palladium Maple Leafs
- Gold (.995+ fine) bars and rounds manufactured by a NYMEX or
COMEX-approved refiner/assayer
- Silver (.999+ fine) bars and rounds manufactured by a COMEX-approved
refiner/assayer
- Platinum (.9995+ fine) and Palladium (.9995+ fine) bars and
rounds manufactured by a NYMEX-approved refiner/assayer
|
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
How does the client direct the investment
in precious metals? |
A. |
Each
specific investment by a self-directed IRA requires written instructions
of the account holder to your IRA
Trust Company. The instructions will detail the investment to be
made and NPMG to provide the precious metals. The form “Investment
Direction by IRA Account Holder for Precious Metals”is available
for this purpose. The account holder should provide investment directions
directly to your IRA Trust Company as the IRA custodian. Your IRA
Trust Company will then issue a purchase order to NPMG and complete
the investment. Negotiation of the quantity, form, grade and price
of the precious metals should be handled directly with your NPMG
representative before preparing detailed investment directions. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Will the IRA Trust Company accept facsimile
transmissions instead of original documents? |
A. |
Generally, your IRA Trust Company will
accept a facsimile transmission to commence a transaction. The IRA
Trust Company always reserves the right to require fully executed,
original, written instructions prior to any action. You may also
send a partially completed Investment Direction to NPMG and provide
final details later by fax. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can the dealer handle the Investment
Directions for me? |
A. |
Investment
Directions must be in writing with approval signified by the account
holder’s signature.
If the investor desires, the Investment Direction can be signed and
forwarded to NPMG for completion of details and forwarding to your
IRA Trust Company. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Where will the precious metals in my
IRA be stored? |
A. |
The precious metals held by IRA accounts
at GoldStar Trust Company and Sterling Trust is stored in a specialized
precious metals depository. The depository provides expert verification
and handling of shipments into and out of the depository and provides
for safekeeping while the metals are stored. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What depository does GoldStar Trust
Company and Sterling Trust use? |
A. |
Precious metals IRA assets are deposited
with the Delaware Depository Service Company (DDSC), which is an
Exchange-approved, Delaware-based, limited liability company providing
a full range of specialized precious metals custody, accounting and
shipping services to financial institutions and industrial companies
worldwide. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
Are the precious metals for my IRA
account separately identified and stored? |
A. |
The
investor has the choice as to whether his/her metals are separately
identified and stored (segregated)
or stored together with other IRA investors metals (commingled).
An additional storage fee is required to have the metals segregated
(see the Fee Disclosure and/or the Precious Metals Depository Holdings
Election
Form). Commingled
assets are considered “fungible”and are not individually identified.
IRAs with commingled assets will be credited with the assets received for
it by type of metal, type of coin or bullion, manufacturer of bullion,
denomination of coins, and weight of item. For American Eagle products
of the U. S. mint, the year of mint is recorded and coins are credited
according to their appearance as bullion, as proof, or as proof without
containers, certificates or packaging. Metal which is delivered for the
IRA will be from the deposits of items with the same characteristics, but
will probably not be the same coins or bullion which were originally received. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
How will the metals be physically stored? |
A. |
When metals are shipped to the depository,
the shipment will be opened upon receipt, and the contents inspected
before being deposited as follows:
Gold, Platinum, and Palladium coins and bars (excluding 100 oz Gold Bars,
50 oz Platinum Bars, and 100 oz Palladium Bars) are repackaged after
verification and stored separately. This ensures that the client will
receive the exact material as was deposited when the client decides to
sell, exchange, or take an in-kind distribution (take personal possession
of the material) of the metal.
Silver Coins and Bars (excluding 1000 oz Silver Bars) are commingled.
While the client will not receive the same material as was deposited
when the client decides to sell, exchange, or take an in-kind distribution
(take personal possession of the material) of the metal, a coin of the
same year will be provided. The following material will be commingled.
However, by virtue of the fact that the following have serial numbers,
the client will receive the same material as was deposited when the client
decides to sell, exchange, or take an in-kind distribution (take personal
possession of the material) of the metal.
- 1000 oz Silver Bars
- 100 oz Gold Bars
- 50 oz Platinum Bars
- 100 oz Palladium Bars
|
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
Can I transfer my precious metals to
a storage facility I choose? |
A. |
Your
IRA Trust Company is responsible for custody of IRA assets and
selects the facility used to deposit
all precious metals held in IRA accounts. You may, of course, transfer
the IRA assets in kind to a different trustee or custodian which
currently uses a different depository. Your IRA Trust Company
will deliver the assets in accordance with the instructions of the
successor trustee or custodian after payment of costs and fees due. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can I take custody of IRA assets? |
A. |
No. All IRA assets must remain within
the custody of a custodian or trustee of the IRA. You may take a distribution of
assets in your IRA, which is a taxable event reported to the IRS.
Unless you make a qualified rollover contribution of the assets into
another plan, you will probably owe income taxes on the value of
the distribution and are likely to be subject to a penalty for a
premature distribution as well. As always, consult your investment
and tax advisors regarding these matters prior to any action on your
part. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can a person have more than one IRA? |
A. |
There is no problem with having more
than one IRA. However, the maximum deferred annual contribution,
which is currently $4000 for an individual, is not applied to each
IRA; it is the maximum total for the year. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can I transfer money from an existing
IRA account to fund my precious metals IRA, without incurring any
tax penalties? |
A. |
If
you have an existing IRA or 401K the easiest way to set up a new
precious metal IRA is by Direct Roll –Over.
You transfer the amount you want to spend into a new IRA and there
are no tax penalties. Your IRA custodian knows exactly how to do
this and they will facilitate the process. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What
types of IRA’S are eligible
to rollover? |
A. |
All
IRA’s (Standard IRA, Roth
IRA and SEP IRA) can have a direct roll-over. You can speak with
your IRA custodian for details or any limitations. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can I open a new IRA with cash? |
A. |
You
can open a new IRA with cash. The tax benefits will only be on
the first $4000. The advantage of putting
in more than $4000 is that any gains are deferred until you actually
make a withdrawal. The negative is that there are penalties for withdrawals
before age 59 ½. We would suggest you discuss this issue with
your IRA custodian. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
Does NPMG have a minimum dollar amount
for an IRA purchase? |
A. |
Yes the minimum amount for an IRA purchase
from NPMG is $5000. It is simply not financially beneficial for the
customer on a dollar amount less than $5000 once you factor in yearly
custodial fees. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Who is eligible for a Traditional IRA? |
A. |
Anyone
who is under age 70½ and
has earned income is eligible for a Traditional IRA. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
How much can be contributed to a Traditional
or Roth IRA? |
A. |
For 2009, an individual may contribute
up to 100% of compensation or $5,000, whichever is less. In addition,
individuals that attain age 50 by December 31 may make a catch-up
contribution of $1,000. Keep in mind that contributions made to both
a Roth IRA and Traditional IRA may not exceed the annual maximum
limit. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Who is eligible for a Contributory
Roth IRA? |
A. |
Anyone who has earned income and falls
within the Modified Adjusted Gross Income (MAGI) limits is eligible
for a Roth IRA. If you are single, your MAGI must be less than $110,000.
If you are married, your MAGI must be less than $160,000. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Who can establish a SEP IRA? |
A. |
Any employer or self-employed individual
may establish a SEP IRA. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
What are the eligibility requirements
for employees to participate in a SEP IRA? |
A. |
An employee is eligible if the employee
has reached age 21, worked for the employer for at least 3 of the
last 5 years, and has at least $500 in compensation from the employer. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|
|
|
Q. |
How much can be contributed to a SEP
IRA? |
A. |
For 2009, contributions of up to 25%
of each employee's compensation, or $49,000, may be made. The maximum
compensation that may be considered for 2009 is $245,000. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Can I contribute bullion or coins I
already own into a Self-Directed IRA? |
A. |
No, all contributions must be made in
cash, except in the case of transfers and roll-overs. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Why should I make a contribution if
it is not tax deductible? |
A. |
Non-deductible
contributions grow tax free in a Roth IRA and tax deferred in a
traditional IRA. This
tax favored treatment usually makes even a non-deductible contribution
a smart move. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
My bank IRA is free why is there a
fee for my Self-Directed IRA at GoldStar Trust or Sterling Trust? |
A. |
A
bank has its fee built into the interest rate it pays you. In addition
a bank probably won’t allow you
to invest in precious metals. Since GoldStar and Sterling Trust receives
no commission from any of your investment actions, separate fees
are necessary to cover the costs of maintaining your account. |
|
|
|
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . |
|
|
Q. |
Does my employer have to be involved
in the decision as to what I do with my 401(k)? |
A. |
The employer establishes the plan for the benefit
of the employees. The employer will have specific investment language
incorporated in the plan that states what options are available to
the employee. |
Top |
|
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . |
|
|