Transfer an IRA

How to Transfer Your IRA-Owned Precious Metals to a New Depository/IRA Administrator

Many self-directed IRA administrators have exclusive arrangement set up for storage of their clients’ IRA-owned precious metals. In the event that you want move your IRA-owned metals to a new precious metals storage depository, you will most likely need to find an IRA administrator that allows the use of that new depository. Luckily there are IRA administrators that allow flexibility in choosing the precious metals storage company.  Please call us for more information or suggestions regarding the IRA Companies we recommend and work with on a daily basis.

If you have metals held with another precious metals depository and you would like to move them to a different depository you will take the following steps:

  • 1. Set up an IRA with the provider of your choice. All necessary forms can usually be found on the provider's site!

  • 2. Submit IRA transfer forms to your provider. The IRA transfer forms can be downloaded from the provider's website. On the transfer forms you will indicate that you are performing an ‘in kind’ IRA to IRA transfer (in kind means you are moving the metals without selling them). Along with the IRA transfer forms it is a good idea to include a letter to the current IRA administrator/depository explaining what you are doing and authorizing the movement of the metals.

  • 3. Once the IRA provider receives your transfer request they will forward the request to your current IRA administrator with delivery instructions and a packing slip. Your current IRA administrator will coordinate with their depository and instruct them to ship the metals to the new depository. Additionally, the IRA administrator will remove the assets from their records and show them as transferred out to your IRA.

    • Note: if both depositories are in Wilmington DE then you can instruct the current custodian to authorize the depository to release the metals for personal pick-up by a representative of the new depository.

    • Note: it is also a good idea to get a medallion signature guarantee on the IRA transfer forms before mailing them. A medallion signature is similar to a notary but stronger. It is a guarantee that your signature is genuine. You can generally obtain a guarantee from a bank officer at your local bank. The guarantee is not always required; however, some IRA administrators require it before they will honor the transfer request.

  • 4. Prior to the arrival of the metals you should sign the account agreement for the new depository and submit that to  the chosen provider. The new depository should notify the new provider and you when the metals are received.

  • 5. After the above steps, your new IRA provider will post the assets to your IRA.