There are two safe, tax-free and penalty-free methods used to transfer money between retirement accounts: the direct trustee-to-trustee transfer and the 60-day rollover option. Again, the Oxford Gold Group has an entire IRA-dedicated department that will handle the details for you.
The trustee-to-trustee process moves your retirement monies (either partial or full) from your current IRA provider directly into the hands of your new Precious Metals IRA provider.
IRA Account Rollover
Your current IRA account provider mails a check to your home address; you will then simply mail that check directly to your new Precious Metals IRA provider. As long as this check is provided to the new IRA custodian and deposited into your new IRA account with 60-days, there are no taxes or penalties incurred.
We know that the rollover process can seem complicated so we urge our clients to let us do the heavy lifting! With your consent, the Oxford Gold Group will assess which method works best for your portfolio and will handle the entire process on your behalf, filling out the paperwork or making any necessary phone calls. Oxford’s IRA Department has processed many of these types of transactions and you can rest assured that our IRA Department will assist you step-by-step through the entire process.
FOUR EASY STEPS – Don’t Worry – We Do ALL the Work For you!
Step One: Open Account
The first step is establishing your new Precious Metals IRA account. Your dedicated account Partner will walk you through the simple application. It’s only a few pages long and takes about 10 minutes to complete. The Oxford Gold Group can receive your completed application via fax, email, or mail. Upon receipt, we will process the application and have your new IRA account completely set up within 24 hours!
Step Two: Transfer Funds
The Oxford Gold Group will then reach out to your current IRA custodian to arrange for the tax-free rollover of your retirement monies. Transferring the funds may take up to 5 business days, depending on your current IRA custodian. The funds are transferred usually via bank wire, and once they have been deposited into your Precious Metals IRA account, you are ready to invest!
Step three: Select Metals
Now that the paperwork is done, a consultation with your account Partner will determine what metals you’d like to physically hold in your self-directed IRA.
Step Four: Ship Metals
The Oxford Gold Group ships (insured) all metals directly to the Delaware Depository Service Company (DDSC), one of America’s largest precious metals depositories. Customer assets are stored in high-security vaults constructed and maintained in compliance with the Bank Protection Act and UL standards. DDSC backs its storage services with an impressive, comprehensive insurance policy, underwritten by Lloyds of London, one of the world’s oldest insurance providers. The DDSC state-of-the-art facility is a non-government depository storage facility and is ideal for safe, secure, private storage of your precious metals.