Self Directed IRA Rules

Here are the simple rules to follow:

What we can invest in?
There are only two asset classes that we are not to invest in, and those two are collectibles and life insurance.  So that will include some coins that are considered collectibles. your precious metals dealer will help you know what coins are not allowed. These asset classes are not allowed.

Who can my IRA do business with?
Internal Revenue Code 4975 states that an IRA cannot engage in a transaction with anyone or anything considered related to your IRA.  So who and what are related to your IRA? It starts with you and your spouse then your children and your grandchildren.  It also includes your parents and your grandparents, it also includes any business that you or any of these people mentioned owns 50% of or more. What this is telling us is that our retirement account cannot do business with any of these individuals or businesses that one of these individual owns, they are considered prohibited.

The tax payer act of 1997 allows you to own gold and other precious metals and put them into your retirement account. This means you can turn your stock market based IRA into something tangible that you control, Gold and Silver.