You can’t afford to take chances on the precious metals market. Don’t put yourself or your assets at risk. Consider vault storage instead. Indigo Precious Metals offers one of the most secure and well-protected vaulting facilities in the world. Our Singapore-based location is ideal for precious metal vaulting due to the country’s round-the-clock free-trade zone. This means you can store your precious metals at our Swiss-designed, state-of-the-art facility tax-free and 100% safe. Don’t believe us? Well, read on to learn more about the dangers and difficulties of home storage.
Beware of Home Storage IRAs
Unscrupulous precious metals dealers are everywhere and not to be trusted. Sometimes, it becomes difficult to tell them apart from legitimate and reputable dealers like Indigo Precious Metals. Many of these unethical companies have begun marketing suspicious IRA schemes they refer to as Home, Self-Storage, or Checkbook IRAs. While their marketing pitch may win you over and seem appealing, the results of such plans can be disastrous for investors like you.
Pulling the Wool Over Your Eyes
Limited Liability Companies have no qualms about misleading you, and will do their best to convince shrewd investors like you that to store your bullion at home. But how does this benefit them? In America, millions of citizens have substantial savings in IRAs and 401ks. Illegitimate dealers are aware of this fact and wish to exploit it by appealing to your desire for privacy and control. It may seem like nothing to keep your precious metals at home, but there are numerous risks involved. Always get a second opinion, especially if it comes from us. Physical precious metals are a great asset to have, especially for those of you who relish their privacy, but using IRA funds for home storage is a no-go. You’re more susceptible to theft, loss, damage, and many more risks, including trouble with the IRS.
False Promises, Tax Court, and Safe Deposit Boxes
You should know that the IRS received annual notifications about your IRAs. It’s your responsibility as the owner to supply your IRA provider with third-party value confirmation. This means reporting the exact value of your precious metals and any cash in your LLC, which means those promises of privacy are up in smoke. Moreover, insurance costs skyrocket for home storage. You can even suffer taxable withdrawal costs on top of your precious metals loss value if they’re lost or stolen. Furthermore, should the IRS identify a prohibited transaction, it’s on you as the taxpayer to prove otherwise. Proving a lack of personal benefit can be tricky business, and, worse still, you’ll be guilty until proven innocent in tax court. There’s even risk of jail time! It’s no good turning to safe deposit boxes, either, as banks don’t insure them. By their very nature, safe deposit boxes keep their contents secret from everyone but the owner. How can the bank insure the contents if they don’t know what they are?
You can avoid all these dangers and difficulties by going straight to vault-based storage. Your investment will be far more secure than when stored at home. You can learn more about what we offer at www.indigopreciousmetals.com.