A self directed IRA with New Direction IRA allows account holders to buy the full range of allowable assets, including precious metals. Investors can turn any plan type (Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA) into a self directed IRA as long as the account is held by a self directed IRA custodian. Many people have experience investing their personal funds in precious metals. They are now looking to capitalize on that experience and generate retirement wealth that is tax-deffered or tax-free.
The application process will take about 15 minutes!
Open your New Direction IRA account.Before You Get Started
Choose how to fund New Direction IRA account.
Purchase your precious metals by directing us to send funds to your dealer.
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Reach a precious metals IRA specialist
Call 877-742-1270, ext. 185
New Direction IRA is a trusted provider of investor education for retirement accounts and HSAs. The services provided enable individual investors to take control of their tax-advantaged accounts using alternative asset opportunities ideally suited to each investor’s goals and investment style. New Direction IRA has over a decade of experience in asset acquisitions, leads the self-directed IRA industry in technology, and has a proven track record for providing clients with quality service.
Step 1 — It takes New Direction IRA one to two business days to open your account once your application is submitted. During the application process, you will elect how you would like to fund your account, either by a rollover, transfer, and/or contribution.
Step 2 — Choose a depository - The IRS requires that metals remain in control of the administrator/custodian in order for the asset to maintain a tax-advantaged status.
Step 3 — Complete a Buy Direction Letter and Depository Election Form and submit the forms to NDIRA.
Step 4 — Agree on a purchase with the dealer. The dealer will send an invoice to NDIRA.
Step 5 — NDIRA pays the dealer from your IRA funds. NDIRA sets up an account at the depository in the name of your IRA. The metals are then shipped by dealer to the depository.
Yes, you may email the forms to: firstname.lastname@example.org or fax them to: 303-665-5962; however, if you will be transferring funds in from another retirement account, please check with your current custodian to see if they will accept a faxed transfer request.
A one time IRA set up fee of is due at the time of account establishment.
You may take possession of the precious metals held in your IRA by completing a Distribution Form and distributing the metals from your IRA account. Distributions on all pre-tax retirement accounts are subject to taxes and the IRS may impose an early distribution penalty if you are under the age of 59 ½.
Your IRA's precious metals cannot be held by you individually. You must elect a depository to store your metals. New Direction IRA does not endorse any depository. You are free to choose the depository that best fits your needs. We can work with any depository that you choose.
A truly self-directed IRA is a retirement plan that allows you to invest in any type of asset the IRS allows for an IRA, which includes everything except collectibles and life insurance. The IRS requires that you have a custodian or qualified trustee hold any assets purchased in the IRA on behalf of the IRA holder as well as provide record keeping and IRS reporting for the IRA.
A few factors to consider when determining which type of account to open include: your age, income level, current tax bracket, expected tax bracket when you retire, and whether you or your spouse (if married) are currently enrolled in or are eligible to participate in an employer sponsored retirement plan.
A Traditional IRA is an individual retirement account that allows an individual under the age of 70 1/2 to deposit pre-tax dollars into their account and postpone paying taxes on the funds until the funds are distributed. In most cases, the annual contributions made to your Traditional IRA are tax-deductible in the year the contribution is made, then later, once you've retired and are in a lower income tax bracket, you pay the taxes on your distributions.
A Roth IRA is an individual retirement account that is funded with post-tax dollars. The contributions are not tax deductible, however, the advantages of this type of account is that your contributions and earnings can be distributed tax free as long you are over 59 ½ and your Roth has been opened for at least five years. For Roth IRA holders, there are no minimum distribution requirements that must begin at age 70 ½, and, as long as you are still earning income, you can continue contributing to your Roth IRA.
You may want to consult with a qualified tax professional or financial planner to determine which type of account is best for you. More information can be found on our website at www.NewDirectionIRA.com.
To determine how much you can contribute to your Roth IRA for the current year, please review the Roth contribution table located on the IRS's website:
As long as you earn taxable income and are under the age of 70 ½, the IRS allows you to contribute to a Traditional IRA. However, the amount of your contribution which you are able to deduct may be limited based on your income and whether you or your spouse (if married), are covered by an employer sponsored plan. Deduction limits can be found at:
Current contribution limits for a Roth or Traditional IRA can be found by going to
If you are moving funds from an employer sponsored plan into an IRA, you must request a rollover. However, if you are moving funds between like accounts (Traditional IRA to Traditional IRA or Roth IRA to Roth IRA) and you have not completed a rollover in the past 12 months, then the decision is yours.
A rollover is reportable to the IRS, however, it is not a taxable event if the funds are received by the new custodian within 60 days. A transfer is neither a taxable event, nor is it reported to the IRS. You are allowed only one rollover per 12 months. There is no limit to the number of trustee-to-trustee transfers you can complete in one year.
The IRS limits the number of indirect rollovers, also know as a 60 day rollover, you make to one per twelve months. The IRS does not however, limit the number of direct rollovers you make from your 401k to your IRA.
The difference between an indirect rollover and a direct rollover is that with an indirect rollover, the funds are distributed directly to you and then you are responsible for transferring the funds to your new custodian. The IRS requires that you complete the rollover of funds to your new custodian within 60 calendar days; otherwise, the distribution is treated as a taxable distribution. An important note: when you elect an indirect rollover from your 401k plan, the plan administrator is required to withhold 20 percent for federal income tax. This means when you rollover the amount distributed from your 401k into your IRA, you must make up the 20 percent that was withheld, otherwise, the 20 percent withheld is treated as a taxable distribution.
With a direct rollover, you never take physical receipt of the funds. The funds are moved from your 401k plan directly to your IRA without any taxes being withheld. The IRS does not limit the number of direct rollovers you can do in one year.
There is no limit to the number of times you can transfer funds between like IRAs as long as you are requesting a trustee-to-trustee transfer and not an indirect rollover. An indirect rollover can only be completed one time per twelve months. There is also no limit on the number of times funds can be rolled into your IRA from a 401k plan as long as you are requesting a direct rollover.
Yes, you may open a self-directed IRA even if you have an existing retirement account. There are a few factors to consider when determining which type of account to open, which include: your age, income level, tax bracket, expected tax bracket at retirement, and whether you or your spouse (if married) are currently enrolled in or are eligible to participate in an employer sponsored retirement plan. If you are unsure of which type of account is best for you, you may want to consult with a qualified tax professional or financial planner to determine the best option.
There are a number of different ways to make a contribution. New Direction IRA accepts personal checks, cashiers checks, or online via ACH. You may login to the www.myDirection.com client portal to make an online deposit. Checks should be made out as follows: NDIRA, Inc. FBO [your name here] IRA and mailed to:
New Direction IRA, Inc.
1070 W. Century Dr. Ste 101
Louisville, CO 80027
Contributions need to be accompanied by a Deposit Coupon. In addition to sending a physical check, contributions can also be made via ACH by accessing your account online at www.myDirection.com, clicking on the tab at the top to "Make a Deposit/Contribution", then completing and submitting the online form.
There is no limit to how often you can contribute, however, there is a limit to how much you can contribute each year. Current contribution limits for a Roth or Traditional IRA can be found by going to:
A Traditional IRA is an individual retirement account that allows tax deductible contributions to be made to the account. SEP and SIMPLE IRAs are retirement plans for small businesses. These plans allow small companies to offer their employees a retirement plan without having the high costs associated with administering a 401K plan. SEP and SIMPLE IRAs both allow employer contributions to be made to the IRA. For more information on these types of plans visit:
Please have the following information ready to begin the application and investment process:
The difference between an indirect rollover and a direct rollover is that with an indirect rollover, the funds are distributed directly to you and then you are responsible for forwarding the funds to your new custodian. The IRS requires that you complete the rollover of funds to your new custodian within 60 calendar days, otherwise, the distribution is treated as a taxable distribution. An important note: if you elect an indirect rollover from a 401k plan, the plan administrator is required to withhold 20 percent for federal income tax. This means when you rollover the amount distributed from your 401k into your IRA, you must make up the 20 percent that was withheld, otherwise, the 20 percent withheld is treated as a taxable distribution. There is no mandatory 20 percent withholding for indirect rollovers between IRA accounts.
With a direct rollover, you never take physical receipt of the funds. The funds are paid directly from your 401k plan directly to your IRA without any taxes being withheld; therefore, there is not a mandatory 20 percent withholding. Moreover, the IRS does not limit the number of direct rollovers you can do in one year.
Rollovers are a reportable event to the IRS; however, a properly completed rollover (direct or indirect) is not a taxable event.
No, the IRS only allows you to complete one IRA-to-IRA rollover per twelve months. However, you may make as many trustee-to-trustee transfers between your IRA accounts as you want.
The IRS gives you 60 calendar days to deposit your distribution into another (or the same) IRA before it is considered a taxable distribution, assuming you have not already made an IRA-to-IRA rollover within the past 12 months.
As long as you have met a triggering event (an event that makes you eligible to make a withdrawal from your qualified plan), you may roll your funds out of your employer sponsored plan into an IRA account. Triggering events generally include:
1. Reaching retirement age (defined by your plan)
2. Termination from service
3. Plan termination
Triggering events differ from plan to plan. For specifics on your employer's plan you must inquire with your plan administrator.
If you elect to take constructive receipt of a distribution from a qualified retirement plan (indirect rollover) instead of having the funds sent directly to your IRA, the plan administrator is required to withhold 20 percent for federal income tax. The IRS gives you 60 calendar days to complete your rollover. When you roll over your distribution, you must make up the 20 percent that was withheld, otherwise, the 20 percent withheld is treated as a taxable distribution.
The term "distribution" is used to denote the withdrawal of cash and/or assets from a retirement plan or IRA. An IRA distribution can be taken at any time, though the IRS imposes a 10% premature distribution penalty if the distribution is taken before the account holder reaches the age of 59 ½ and the distribution does not meet one of the early distribution exceptions allowed by the IRS. Distributions are reported to the IRS and are considered taxable income if the funds were distributed from a pre-tax account.
You must begin taking Required Minimum Distribution (RMD) payments from your pre-tax IRA or retirement plan when you reach age 70 ½. The IRS allows you to delay your first RMD payment until April 1st of the following year. RMDs must be taken by December 31st each year thereafter.
Roth IRAs do not require RMD payments until after the account holder is deceased.
An IRA distribution can be taken at any time, though the IRS imposed a 10% early distribution penalty if the distribution is taken before the account holder reaches the age 59 ½. Distributions are reported to the IRS and are considered taxable income if the funds were distributed from a pre-tax account.
If you want to avoid paying taxes and/or penalties when rolling over funds from a tax-deferred, employer sponsored retirement plan to your self-directed IRA, the best option is to request a direct rollover. With a direct rollover, you never take physical receipt of the funds. The funds are moved from your 401k plan directly to your IRA without any taxes being withheld.
Your are not required to have taxes withheld when you convert your pre-tax Traditional IRA funds to your Roth IRA. However, the converted funds will be reported to the IRS as taxable income in the year the conversion takes place. If you elect not to have withholding applied to your conversion, or if you do not have enough federal income tax withheld from your conversion amount, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient.
The IRS allows IRA and HSA account holders to continue making contributions until April 15th and have them apply to the previous tax year. Plan administrators and custodians have until May 31st to distribute Form 5498 to the IRS as well as to account holders. This delay is to ensure that all contributions made to your account are accurately reported to you and the IRS.