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Reallocationg precious metals from personal holdings to Solo 401k
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1 Reply
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I have $300,000 in gold that I purchased in the last 18 months with my personal funds as a personal hedge. Now I realized that I should have purchased this and held in my Solo 401k instead. Is there anyway for me to transfer these holdings to my Solo 401k? I would not be personally benefitting from the transaction as I would sell/transfer it at the regular market price that I would receive if I sold elsewhere so not looking to benefit by making any sort of personal profit. The alternative is for me to sell and ship all the gold to a dealer and then repurchase and receive the same amount of gold in the Solo 401k and in doing so I would have to pay a dealer premium again of 7.5% ($22,500) which I would not have to pay or jump through all this hassle if I can transfer my existing holdings to my retirement account. Thank you for the feedback!
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While your intent is to benefit the solo 401k plan, it would be prohibited to deposit, sell or exchange an asset that you own personally to your own solo 401k plan. This transaction would fall under the following prohibited transaction rule:
Sale, exchange, or leasing of property between a plan (e.g., Solo 401k plan) and a party in interest (the solo 401k account holder)
