How do I sell Precious Metals that are in my IRA?

If you have precious metals in your IRA and are considering selling them, the process is straightforward, especially if you are working with a Self-Directed IRA (SDIRA) at American Estate & Trust (AET). Here's a step-by-step guide to help you through the process of selling your precious metals while ensuring you stay compliant with all IRS regulations.

Step 1: Complete the "Metals Buy/Sell Form"

Before initiating the sale of your precious metals, you need to fill out the Metals Buy/Sell Form. This form is essential for the sale and must be saved to your computer for upload when creating your Direction of Investment (DOI).

Step 2: Prepare Your Documents

If you are selling the metals to an external vendor, you will need the following documentation:

• Vendor Invoice: This should be billed to:
  • “YOUR NAME, legal owner via non-trust custodial IRA with AET.”
• Metals Buy/Sell Form: Make sure this form is completed and saved for upload.

If AET is assisting with the sale, contact your advisor prior to starting the DOI process. You will still need to save the Metals Buy/Sell Form to your desktop for later submission.

Step 3: Create a DOI for Metals Sale

To initiate the sale of your precious metals, you will need to log into your AET online portal and create a DOI. Here's how:

1. Login to Your Online Portal:

   • Access your account here.

2. Navigate to the "Invest (DOI)" Tab:

   • Once logged in, go to the Invest (DOI) tab to start the process.

3. Create a New Investment:

   • Click on the “NEW INVESTMENT” button to initiate the sale.

4. Select the Investment Type:

   • Choose “PRECIOUS METALS” as the investment type.

5. Enter Investment Details:

   • Describe Your Investment: Provide a brief description of the precious metals you are selling.
   • Vendor: If you're selling to a vendor, enter their name, or "AET" if we are handling the sale.
   • How Much Is Your Investment: Enter the total amount needed for the sale (use decimals for cents and avoid using dollar signs or commas).

6. Provide Funding Method:

   • Choose your preferred funding method: “WIRE” or “CHECK”.

7. Carrier and Handling Notes:

   • Carrier: If you're selecting "CHECK", specify the carrier (e.g., USPS, FedEx). For "WIRE", select “EMAIL”.
   • Handling Notes: Include any relevant notes or instructions, such as special handling requirements.

Step 4: Upload Supporting Documents

Next, you will need to upload your supporting documents:

• Metals Buy/Sell Form: Upload the completed form.
• Vendor Invoice (if applicable): If you're working with an external vendor, make sure the invoice is billed to your IRA and upload it.

To upload documents:

• Click “Add Document”.
• For Description, write a brief description of the document (e.g., Metals Buy/Sell Form, Vendor Invoice).
• Select Files to Upload: Choose and upload the relevant files from your computer.

Step 5: Review and Submit

Once all the details are filled out and documents are uploaded:

1. Review: Click “REVIEW” to verify that all the information is correct.
2. Submit: If everything looks good, click “SUBMIT” to complete the DOI for the sale of your precious metals.

Step 6: Wait for Review and Approval

Once submitted, AET will review your DOI within 3-5 business days. You will be notified if any additional information is needed to process your request. You can also track the status of your DOI through your online portal.

Additional Notes

• Shipping Fees: If any shipping fees are required, you will be notified during the review process.
• Processing Time: The sale of precious metals may take up to 2 weeks to complete, so please plan accordingly.
• DOI Review: As part of the review process, AET will check to ensure all details are in compliance with IRS regulations, including ensuring the proper documentation is submitted.

Step 7: Follow-Up

After submission, you can check the status of your DOI through the online portal. If any additional information is needed, you will be notified. It's essential to stay informed throughout the process to ensure the sale goes smoothly.

By following these steps, you can successfully sell your precious metals held in an IRA while ensuring full compliance with IRS guidelines. If you have any questions or need assistance with the process, please don't hesitate to contact AET. We're here to guide you every step of the way!