IRA FAQs

The first step is establishing your new Precious Metals IRA account. Your dedicated Account team member will walk you through the simple application. It's only a few pages long and takes about 10 minutes to complete. We will help you send that back to our offices via fax, email, or mail. Upon receipt, we will process the application and have your new IRA account completely set up within 24 hours! Lear Capital will then immediately 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 get invested!
When you open a Precious Metals IRA with Lear Capital, you will be the proud owner of the actual physical metals you purchased. All of your hard assets are securely stored at a state-of-the-art, IRS-approved, insured private storage facility. Once you are age-eligible to take a mandatory distribution, you can choose to either take physical possession of your metals or liquidate your assets (in the appropriate amount, as determined by the IRS rules).
Lear Capital ships (insured) all metals directly to the Delaware Depository IRS-approved depository vault. The Delaware Depository has been the industry leading IRS-approved depository for the safeguarding of precious metals since 1999. DDSC backs it storage services with an impressive, comprehensive insurance policy, underwritten by London Underwriters, one of world's oldest insurance providers. The Delaware Depository's state-of-the-art facility is the ideal solution for safe, secure, private storage of your precious metals.
Each and every client account at the Delaware Depository is 100% insured for the full value of the metals stored. In addition, every package shipped from the Delaware Depository depository also carries full insurance coverage. The Delaware Depository provides an impressive, comprehensive insurance policy, underwritten by London Underwriters, one of the world's oldest insurance providers. The Delaware Depository's insurance policy protects your assets against physical loss or damage arising from any cause, even Acts of God (fire, flood, etc.).
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.
1. The trustee-to-trustee process moves your retirement monies from your current IRA provider directly into the hands of your new Precious Metals IRA provider.
2. If the 60-day rollover method is used, 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 within 60-days, there are no taxes or penalties incurred.
We know this rollover process can seem complicated and we urge our clients to let us do the heavy lifting! With your consent, your IRA team member will assess which method would work best for your portfolio and will handle the entire process on your behalf, filling out the paperwork or making any necessary phone calls. Lear's IRA Department has successfully processed over $1 Billion of these types of transactions and you can rest assured your IRA team member will assist you step-by-step through the entire process.
Opening or rolling over into Precious Metals IRA is a very easy process, thanks to the assistance provided by your IRA team member. We will assist you with filling out a simple IRA application to open your Precious Metals IRA account. You only need to provide your basic contact information and the contact information for one other beneficiary you'd like to list on your account. We accept forms via mail, fax, or email—whichever is easiest for you. In addition, we also use DocuSign to capture electronic signatures making the application process even easier; this means that you don't have to print anything out. Lear's IRA Department has successfully processed over $1 Billion of IRA transactions and you can rest assured your IRA team member will assist you step-by-step through the entire process.
You may only rollover IRAs or other qualified retirement accounts into a Precious Metals IRA. Qualified retirement accounts include: Roth, SEP or a SIMPLE IRA, 401k, 403b, 457b, Pension plans, or Thrift Savings accounts. If you would like to know which account(s) you have that can be rolled over into a Precious Metals IRA account, our IRA team member is happy to help you. You can go over your options with our IRA team member over the phone prior to making any decisions or starting the process.
The fee for the first year is $305 and $225 each subsequent year. This is contingent on choosing electronic statements and non-segregated storage when you set up your account. If you choose different options, your fees may be higher. So pay special attention when completing your paperwork. These fees include the payment for storage of your metals in a state-of-the-art facility with a rigorous insurance policy to keep your metals secure.
Relative to fees often charged in many traditional IRAs and 401ks, the cost of a precious metals IRA is very reasonable. Do you know how much you are paying in fees for your 401k? If the answer is “no”, you’re not alone. According to a MarketWatch article:
“Most workers, despite best efforts by federal regulators and others, seemingly don’t know or care how much they are paying in fees for their 401(k) or similar retirement plan.”
Mercer Bullard, a law professor at the University Of Mississippi School Of Law had this to say about IRA fees: “IRAs, where 401k assets unfortunately end up, have as high if not even higher fees on average.”
So, if you feel strongly about adding gold or silver to your retirement holdings, the fees shouldn’t dissuade you. Compare them to that of your existing retirement account before you make a decision.
It's simple! First, you let your Lear IRA team member know whether or not you want the physical metals shipped straight to your front door, or if you'd like to receive cash instead. We can arrange for the metals to be securely shipped from The Delaware Depository's depository, or we can help you liquidate your metals in exchange for cash. Once liquidated, the distribution can be wired into your desired bank account or mailed to you via check. The choice is yours. It takes only 1 business day to process your distribution and the funds will be sent out immediately!
Unfortunately, if your IRA account is invested in stocks, mutual funds, ETFs, bonds (or other traditional investment vehicles), then it is highly unlikely that your current IRA provider is able or willing to manage a physical asset such as precious metals. The brokerage firms that most people utilize to manage their IRAs are only equipped to buy and sell shares in the stock market and store information digitally. In order to invest your IRA in physical precious metals, you have to open a special type of IRA called a “Self-Directed IRA” and you should work with a company who contracts with an IRS-approved storage facility with experience managing physical assets. We will help you open one of these versatile Self-Directed IRAs so that you may invest in physical precious metals.

The statements made on this Website are opinions only. Past results are no guarantee of future performance or returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same depending on a variety of factors. Lear Capital, Inc. cannot guarantee, and makes no representation, that any metals purchased will appreciate at all or appreciate sufficiently to make customers a profit. Lear is a retail seller of precious metals and its buyback (or bid) prices are lower than its sell (or ask) prices. Metals must appreciate enough to account for this difference in order for customer to make a profit when liquidating the metals. Lear does not provide financial advice or retirement planning services. The decision to purchase or sell precious metals, and which precious metals to purchase or sell, are the customer’s decision alone, and purchases and sales should be made subject to the customer’s own research, prudence and judgment.