Forums Solo 401k Gold/Precious Metals Metal Storage

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  • #10459

    John Johnson
    Participant

    I currently have a self-directed Checkbook IRA LLC and I purchased American Gold Eagle Coins. I currently have the coins stored in a safe deposit box at a local Federal Credit Union in the name of the LLC. In light of the McNulty decision I am trying to find IRS documentation that this form of storage is permissible. My current IRA Custodian sent me an article citing you, that this was an acceptable storage option for precious metals, but I cannot find this in any IRS regulation or code. The McNulty decision seemed to indicate metals must be stored in a third party depository. Any specific help would be much appreciated. Thank you

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