Taxes on Roth Conversions:
A Roth conversion may have tax implications in the year of conversion, as assets are moved from one tax treatment to another.
As the dealer for your precious metals IRA, our role is to process the transfer of metals once the conversion is approved by the IRA custodian. We are not financial or tax advisors. We recommend speaking with a financial or tax advisor to evaluate whether a Roth conversion fits your broader financial strategy and to understand any possible tax implications.
How to request an IRA conversion to a Roth account on the platform:
- Establish a Roth account. You can do this by logging into your existing Traditional account on our platform. During the new application when you reach FUND, choose ROLLOVER or the option to skip for now.
- Once you have established a Roth Account, you must complete the Roth Conversion Form for Equity as they will need to approve the conversion. Please contact us for the form so we can assist with the transfer support@goldsilver.com or 888-319-8166.
A Roth conversion can be a complex process, as with any major financial or investment decision. We recommend you give yourself enough time to consult with a financial or tax professional prior to taking next steps!
If you determine you would like to move forward with a conversion, please reach out to us at support@goldsilver.com or 888-319-8166.
Here is a link to Meet with an IRA Specialist
Please note: details above are for client's who currently hold a Traditional precious metals IRA on the GoldSilver platform. If you do not currently have a Traditional IRA with Equity and GoldSilver contact us for more details.
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