April 27 2015

Investing in precious metals

Dmitriy Fomichenko Assets, Investing

Can I purchase precious metals, such as silver and gold, with my Solo 401k plan?

Yes, your 401k can purchase precious metals, such as gold, silver, etc.

The IRS has certain restrictions related to fineness, type of coins, etc. that can be purchased using a retirement account

For example, the coins cannot be “collectibles” per Internal Revenue Code Section 408. Check with your CPA if there are any questions.

All purchases must be in the name of the 401k and using the EIN of the 401k

All precious metals must be stored by an IRS-approved third party depository

Plan assets cannot be held by you, in your physical possession.