From time to time, we receive inquiries about buying precious metals with a so-called “home storage IRA” or “self-storage IRA” that uses an IRA-owned LLC entity. Some proponents of this strategy would lead investors to believe that precious metals held by an IRA-owned LLC can be stored at the IRA owner’s residence. However, this is somewhat misleading since precious metals owned by an IRA (either directly or indirectly through an IRA-owned entity) must meet certain storage requirements. In response to those inquiries, we sought out one of the nation’s leading legal authorities on the IRA LLC structure, Mathew Sorensen, a partner with the law firm of Kyler Kohler Ostermiller & Sorensen LLP, to address this issue. In his white paper, Storage Requirements for IRA-Owned Precious Metals, Mr. Sorensen discusses the complex storage requirements for holding precious metals in an IRA and/or IRA-owned LLC entity. Based upon his discussion, home-storage or self-storage (storing precious metals at a residence or non-approved entity) does not appear to be an option for storing precious metals held within an IRA or IRA-owned LLC entity.
Storage Requirements for IRA-Owned Precious Metals
If you would like more information regarding purchasing precious metals within an IRA, please contact SDIRA at 866.928.9394. SDIRA will process your precious metals investments and store the metals at a depository which meets all storage requirements.