Finding the Right Custodian for Your Gold IRA Account
When investing in rollover IRA to gold, it is essential that you do so through a reputable company. Banks and traditional investment firms do not offer gold backed IRA investments. Thus, you need to work with an industry specialist. Ideally, you need an investment company that can store the physical gold bars for its clients.
Here are some of the questions that you need to ask when selecting a custodian for your gold IRA investment:
• Is the custodian certified by IRS?
IRS is the United States’ revenue agency responsible for collecting taxes and enforcing US tax laws. You truly want to be in the IRS’s good graces, and this is why you need to hire an IRS approved custodian. Also, the IRS certification is an indicator that the custodian is likely qualified to handle clients’ investments. Secure your investment by hiring an IRS certified custodian.
• What is the custodian’s experience in gold investments?
Your retirement portfolio is serious business. Therefore, it is important that you hire an experienced custodian to watch over your financial future. Be sure to hire a custodian who is experienced in opening precious metal IRA accounts. Generally, it is recommended that you hire a custodian with at least two years of experience. Check out trustworthy review sites such as Rare Metal Blog what they have to say about the company like in this JM Bullion review as an example.
• Is the custodian well established and reputable?
If the custodian has been in operation for years and has provided excellent rollover to IRA gold services, then you will not have trouble finding tons of positive reviews and comments about the company online. To determine the legitimacy of the custodian, be sure to check with the Best Business Bureau (BBB). Do not forget to read customer reviews.
• Will your IRA be backed by real physical gold?
One of the greatest concerns every investor has when hiring an IRA account custodian is that the custodian will make you jump through several hoops before encountering your gold. It is prudent that you get a custodian who will make it easy for you to get hold of your gold whenever you need it. Consider hiring a custodian who offers EFT or paper gold services. You need to access your investment at any time, and if the IRA custodian is not going to allow you to do this, then continue with your search.
• Will the custodian be available to communicate with you?
It is important that you know how your investment is fairing. You are better off hiring a custodian who will maintain strong communication with you either through phone or email. Ideally, you should develop a strong relationship with your account manager so you can feel comfortable calling him/her from time to time to provide you with account updates.
A gold IRA rollover is one of the smartest decisions you can make to protect your nest egg from stock market fluctuations, political and national unrest, and most importantly inflation. There are obviously some important things to consider before beginning a rollover as we have already discussed. However the benefits outweigh the costs.