401k to Gold IRA Rollover Storage Options, Offshore Storage vs Local Storage

by Retirement Advisor | Dec 13, 2022 | Rollover IRA

The IRS allows offshore Gold IRA storage, if the offshore depository is IRS-approved.

Brinks Security is IRS-approved and has an offshore storage option in London.

Regal Assets is IRS-approved and has offshore storage options in Dubai and Singapore.

HSBC is IRS-approved and has offshore storage options in London, Zurich, Singapore, and Hong Kong.

JP Morgan Chase is IRS-approved and has offshore storage options in London and Singapore.

Scotia Mocatta is IRS-approved and has offshore storage options in Toronto, Canada.

Gold IRA investors consider London, Dubai, Zurich, Toronto, Singapore, and Hong Kong politically stable.

A politically stable city (or country) refers to a city and country with minimal risk of confiscation or political turmoil.

Historically, these offshore locations have a lower risk of political turmoil than onshore locations.

Remember that in 1933, Democrat President Franklin D. Roosevelt’s 1933 Executive Order 6102 outlawed much of gold ownership for individuals and companies.

In 1933, Democrat President Franklin D. Roosevelt confiscated gold from citizens and foreigners alike.

Individuals and companies that didn’t obey Roosevelt’s Executive Order 6102 were prosecuted under Executive Orders 6111, 6260, 6261 and the Gold Reserve Act of 1934.

When New Yorker Frederick Barber Campbell withdrew 160kg of his gold, Chase National Bank refused and Campbell’s gold was confiscated.

Democrats’ 1933 executive order 6102 was repealed by Republican President Gerald R Ford December 31, 1974.

Gold IRA retirement investors have been allowed offshore storage since The Taxpayer Relief Act of 1997….(read more)