Invest solo 401k in Gold and Silver and store with BlueVault Group

QUESTION: I live in San Diego California and would like to open a solo 401k trust for investing in gold bars and coins, but would like to store the metals in a safety deposit box with BlueVault. If I open a solo 401k with your company can I store my metals with Blue Vault instead of Delaware Depository?

ANSWER: Yes precious metals held in a self-directed solo 401k may be held in a vault with a third party such as BlueVault and in any of their locations across the country.  As a result, the metals will be stored by a third party while at the same time the metals (e.g., bars and coins) are segregated from other investors metals since a separate depository box would be assigned to the solo 401k trust.

When purchasing metals, whether gold or silver coins or bars, the purchase order not only must list the self-directed solo 401k trust as the purchaser, but the funds must come directly from the solo 401k bank account. As such, a check made payable to the dealer or a wire from the solo 401k bank account is the compliance method of transmitting the funds from the solo 401k bank account directly to the dealers bank account.

Common gold coins held in self-directed retirement account such as solo 401k or a self-directed IRA LLC include 1oz Gold American Eagles and 1oz Gold Canadian Maple Leafs.  1oz Gold Swiss PAMP Bars are also typical.  With respect to silver, the 1oz Silver American Eagles and Silver Canadian Maple Leafs are common coins held in a solo 401k.

Thanks a lot, Jason in La Jolla, CA

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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